The global frozen seafood market is markedwith the presence of a high level of competitions among leading market players,observes Transparency Market Research.
Companies such as Beijing Princess Seafood International Trading, NomadFoods Europe, Marine Harvest ASA, The Union Frozen Products,AquaChile, andGrupo Pescanova are someof the names to reckon with in the global frozenseafood market. These market leaders are presently challenging each other onthe basis of product innovation and price differentiation.
The report on global frozen seafood market states that in theforthcoming years, the sellers of frozen seafood are likely to take upstrategic partnerships and collaborations as a means to expand their productportfolio and their geographical reach.In the near future, it is anticipatedthat the leading companies making frozen seafood products will be targetingstrategic tie-ups with multinational food chain services.
In its report on global frozen seafood market,Transparency MarketResearch forecasts that the marketis likely to rise at a sluggish 3.7%CAGRduring forecastperiod. Such sluggish rate of growth is mainly ascribed tothe complicated nature of the techniques that are used in the processing of thefrozen seafood products
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Innovative and Unique Packaging Solutions EscalatesMarket Demand
Vendors producing frozen seafood products make use of various strategiesto gain competitive edge over other producers in the global frozen seafoodmarket. Efforts to enhance the shelf life and quality of frozen seafoodproducts with certain technological innovations are made. Innovative pouchpackaging is one such solution used by producers to prevent loss of nutrientsin frozen seafood products.
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Crustaceans Products to Emerge as the Top Seller inthe Market
Several types of products are being sold in the global frozen seafoodmarket, namely crustaceans, fishes, molluscs and other frozen seafood products.The product type of crustaceans is estimated to emerge as the top seller in theglobal seafood market over the period of forecast.
High profit margins are associated with the crustaceans food type andrising demand for exotic seafood products together are likely to skyrocket thegrowing sales of frozen crustaceans product market. The report on global frozenseafood market also makes a projection that sales of frozen fish products arelikely to account for around 30% of the total global frozen seafood salesthroughout the timeframe of forecast. In addition to that, storage of frozenfish is comparatively less complicated and as such, it is expected to boost itsdistribution. Consumers are expected to remain inclined towards cookingthose frozen fish whose preparation techniques remain simple and the level ofthawing nascent.
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On the other hand, the global frozen seafood market is also expected tobe restrainedowing to the absence of standardization, lack of application ofproper seafood preservatives, difficulty in finding proper and technologicallyadvanced cold storage facilities. Poor quality of cold storage services islikely to hamper the growth of global frozen seafood market to a great extent,states the report.
Widespread Availability of Cold Storage Services inFuels Market in Europe
On the basis of geography, the frozen seafood market is analyzed acrossAsia Pacific except Japan,Europe, Latin America, Japan,the Middle East andAfrica, andNorth America. Among all of these region, Europe holds the topmostposition and is estimated to continue with its dominance in the forthcomingyears. Europe substantially makes use of varieties of fish in their cuisines,which has escalated the demand for frozen seafood products in the region.Another factor that encourages the frozen seafood market in Europe is thepresence of large number of technologically advanced cold storage facilitiesacross the continent.
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