Global Processed Seafood Market by Types, Applications, Distribution Channels, and Regions— Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

Global Processed Seafood Market is valued to reach USD 260.2 Billion by 2023, growing at CAGR of 5.6% over the forecast period 2020–2026. Key factors driving the market are continuous rise in the consumption of various processed seafood products, due to its highly perishable nature. Thus making processing pivotal to keep it fresh and apt for consumption.

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Seafood is a highly perishable type of food, hence processing is required to keep it fresh and suitable for consumption even after long intervals of time. Processed seafood can be any value addition done to seafood, and is primarily done in order to preserve it or to extend its shelf life. Processing is also done to improve taste, color, and provide additional nutrients to the seafood. Preservation of seafood can be accomplished in a variety of ways. The most widely used method for seafood processing is drying and salting. Other methods include smoking, salting, curing, gutting, filleting, etc.

Rising demand for processed seafood, coupled with continuous innovations in fishing techniques are major factors driving growth of the global processed seafood market. In addition, inclination towards ready to eat seafood by consumers, and technological advancements in processing equipment are other factors expected to boost growth of the global processed seafood market over the forecast period.

Market Trends, Drivers, Restraints, and Opportunities:

Rise in innovations in fishing techniques and exploration of new fishing grounds, are key factors driving the growth of the market.
Growth in the demand for healthy seafood products is propelling the need for processed seafood.
High capital investment associated with processing technologies is one of the major factors restraining market growth.
Upcoming advancements in the seafood processing technology are projected to create new opportunities in the market.