The global frozen fish market is experiencing a significant growth, and is expected to experience growth considerably in next few years owing to the rise in demand for traditional food among consumers. It would seem reasonable to think that fresh fish is always better than frozen fish, however that may not always be true. Modern freezing system makes many of the fish in the freezer segment superior to those that are sold as fresh fish in the nearby local market.
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It is because a plenty of fish are now frozen immediately on the boat, just a few minutes after being caught, in flash-freezing units that keep temperatures far below the regular home freezer. As well as farm-raised fishes are frozen on the spot, as freezers are incorporated into the farm. Since more than half of the fish and sea food being consumed are imported, much of these fishes are frozen until it hits the local fish market or grocery store. Many fish labelled as "fresh" are probably frozen beforehand, and while trustworthy fishmongers often disclose this, not all fish markets do.
COVID-19 Scenario Analysis:
The COVID-19 outbreak has caused a decline in the growth of the global industries creating a mass disruption for buyers as well as sellers. There are shutdowns of production units and markets globally which has stopped the production, sale, and marketing of the product. This has also offered an opportunity for the companies to look after their supply chain relationship and business models for the future
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers And Impact Analysis
The major factor contributing toward the growth of the frozen fish market is the rise in consumption of frozen sea food products in the domestic households. The rise in consumption of frozen fish is due to certain benefits such as price, convenience, and taste. Frozen fish is cheaper than a so-called fresh fish.
The busy lifestyle of the people and increasing number of working women has led to the rise in the demand for convenience food such as frozen fish. The long shelf life, nutritional quality and its easiness to cook has increased the demand of the frozen fish.
The global Frozen Fish market trends are as follows:
Companies expanding their distribution channel toward online platforms
As the pandemic occurs the sale of frozen fish has declined due to the restriction of movements of general public in local market and super markets. It became necessary for the suppliers to process the unsold stock of fishes in the refrigerators so that the fish remains fresh till it does not get sold in the market. Moreover, the inclination of consumers toward online shopping has induced business firms to adopt e-commerce platforms to sale the frozen fishes.
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Quality of Cold storage unit hampering the market
Powerful cold-chain infrastructure is considered profitable for frozen fish distribution however the inconsistent quality of cold storage refrigerators continues to create difficulties for the frozen fish making companies. In particular, the complex processing techniques for the production of frozen fish product is expected to challenge the future growth of the bussiness firms engaged in frozen fish market. Furthermore, the lack of uniformity in terms of using freezing temperatures, storing frozen fish products across different levels of refrigeration, and applying proper sea-food preservatives will continue to restrict the worldwide sales of frozen fish products. Prominent brands on the global frozen fish market are implementing advanced processing techniques to enhance resilience of the frozen fish product against adverse factors such as weather changes, mechanical disruption, and freezing temperature fluctuations.
Key benefits of the report:
This study presents the analytical depiction of the global frozen fish industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global frozen fish market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global frozen fish market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global frozen fish market analysis based on competitive intensity and how the competition will take shape in coming years.
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