Surimi Market Growth or Demand Increase or Decrease for what contains ?
The growth or decline in the Surimi Market can be influenced by several factors. Surimi, a seafood product made from fish protein, has gained popularity globally due to its versatility and nutritional benefits. Increasing consumer awareness of healthy eating habits and protein-rich diets has driven demand for surimi-based products, such as imitation crab meat and fish balls, across various cuisines.Market growth is also propelled by the rising consumption of convenience foods and ready-to-eat seafood products, where surimi serves as a cost-effective and sustainable protein source. Additionally, technological advancements in processing techniques have improved the quality and texture of surimi products, expanding their appeal to a wider consumer base.Conversely, challenges such as fluctuations in fish stocks, environmental concerns related to overfishing, and regulatory changes in fisheries management can impact the supply and pricing of surimi. Economic factors affecting consumer spending power and shifts in dietary preferences towards plant-based alternatives may also influence market demand.
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Surimi Market CAGR Estimation:
The Surimi Market was valued at USD 4.10 billion in 2023 and is expected to grow to USD 6.26 billion by 2030, at a CAGR of 6.2%.
Surimi Market Market Segmentation:
by Type
Frozen surimi
Chilled surimi
Fresh surimi
The surimi market is divided into three categories based on type: frozen, chilled, and fresh. With a 70% market share, the frozen surimi category leads the surimi market and is projected to grow at a 7% CAGR over the forecast period. For consumers who prefer to freeze products for later use, frozen surimi is more handy because it has a longer shelf life than fresh and chilled surimi. Furthermore, frozen surimi is more easily accessible for customers and is more readily available than other varieties in many places. The quality and flavor of frozen surimi products have been preserved thanks to advancements in freezing and packaging technologies, which will support the surimi market’s growth in the upcoming years.
by Source
Tropical
Cold Water
Considering the source There are two segments in the surimi market: Tropical and Cold Water. The market was led by the tropical category in 2023, and this trend is expected to continue during the forecast period. Because it is less expensive than other seafood, this segment draws customers who are searching for an affordable way to enjoy seafood. Furthermore, tropical surimi uses fish species that are common in tropical areas, making it a more sustainable option for seafood than traditional seafood. Consequently, the greater market share of this category is probably due in part to the overall quantity of tropical fish.
by Distribution Channel
B2B
B2C
Over half of the global market was made up of the Business to Business (B2B) sector, which is predicted to continue dominating the market for the duration of the forecast. This is due to the rising demand from the developing market, the food processing industry, and the expanding popularity of surimi in the HoReCa sector. A wide range of businesses, including food processing, animal feed, and food services, employ surimi extensively. Sushi, seafood salads, soups, and other seafood-based foods are just a few of the many uses for the economical and adaptable surimi.
Conversely, it is anticipated that the B2C segment will expand over the projected time. Convenience stores, online, hypermarkets & supermarkets, and others make up B2C. The supermarket and hypermarket industry made for over 30% of the B2C market in 2023. This is
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Surimi Market Market Overview:
The Maximize Market Research report assists clients in gaining a comprehensive understanding of the competitive landscape, serving as a valuable resource for strategic planning purposes. The comprehensiveSurimi rMarket market overview furnishes extensive information regarding market size, trade statistics, prominent participants, and a range of market indicators, encompassing aspects such as life cycle, prevailing trends, and more.
Surimi Market Growth or Demand in which regions?
The Surimi Market exhibits varying growth patterns across different regions globally, driven by diverse factors influencing consumer preferences, dietary habits, and economic conditions. In Asia-Pacific, particularly in countries like Japan, South Korea, and Thailand, surimi holds a long-standing culinary tradition and enjoys robust demand. The popularity of sushi, seafood salads, and processed seafood products fuels steady consumption of surimi in these markets. Moreover, rapid urbanization and increasing disposable incomes in emerging economies such as China and Southeast Asia contribute to the expanding market for surimi-based snacks and ready-to-eat meals.In North America and Europe, there is growing interest in healthy eating and seafood alternatives, which has boosted the demand for surimi as a protein-rich ingredient in salads, sandwiches, and seafood spreads. The convenience and versatility of surimi appeal to consumers seeking nutritious and easy-to-prepare meal options.Latin America and Africa show emerging opportunities for the surimi market, driven by urbanization, changing dietary habits, and the expansion of seafood processing industries. Government initiatives promoting aquaculture and sustainable fisheries management also play a role in fostering growth in these regions.
Surimi Market Market Scope Methodology:
The competitive landscape of theSurimi Market market encompasses aspects like technology adoption, financial strength, portfolio, mergers and acquisitions, joint ventures, and strategic alliances. A comprehensive report delves into the drivers, limitations, opportunities, and challenges inherent in theSurimi Market market. The report employed a bottom-up approach to ascertainSurimi Market market estimations and growth rates.To gain insights intoSurimi Market market penetration, pricing dynamics, demand analysis, and competitive panorama, the report executed regional analysis at local, regional, and global levels. Essential details about theSurimi Market market, including stakeholders, investors, and new entrants, are presented to facilitate the development of marketing strategies and investment plans.Both primary and secondary data gathering techniques were employed for theSurimi r Market Market. Primary approaches involved surveys, questionnaires, and interviews with industry leaders and business proprietors, while secondary data encompassed sources like press releases, annual and financial reports, white papers, etc. SWOT analysis was leveraged to pinpoint market vulnerabilities and weaknesses, while the PORTER framework was applied to gauge industry competitiveness within theSurimi Market Market.
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Surimi Market Market Key Players:
1. Viciunai Group (Lithuania)
2. Trans-Ocean Products (USA)
3. Seaprimexco Vietnam (Vietnam)
4. Thong Siek Global (Thailand)
5. Gadre Marine (India)
6. Ocean More Foods Co., Ltd. (China)
7. APITOON (Thailand)
8. Luck Union Foods (Thailand)
9. Sugiyo Co., Ltd. (Japan)
10. Aquamar Inc. (Canada)
11. Fujimitsu Corporation (Japan)
12. SeaPak (USA)
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Key questions answered in theSurimi Market Market are:
- What is Surimi Market ?
- What is the growth rate of the Surimi Market Market?
- Which are the factors expected to drive the Surimi Market market growth?
- What are the different segments of the Surimi rMarket Market?
- What are the factors restraining the growth of the Surimi Market Market?
- What is the demand pattern of the Surimi Market Market?
- What major challenges could the Surimi Market Market face in the future?
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Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size Forecast by different segment |
- Market Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape Profiles of selected key players by region from a strategic perspective
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