Surimi Market Growth or Demand Increase or Decrease for what contains ?
The Surimi Market’s growth or decline is influenced by several key factors. Demand for surimi, a versatile seafood product, often fluctuates based on consumer preferences, dietary trends, and economic conditions. Increasing health consciousness among consumers has driven demand for surimi as a low-fat, high-protein alternative in various cuisines, including sushi and seafood salads.Market growth is also supported by technological advancements in processing techniques that enhance the quality and flavor of surimi-based products. Innovations in packaging and distribution have further expanded market reach, making surimi accessible to a broader audience globally.Conversely, factors such as fluctuations in fish stocks, changes in fishing regulations, and environmental concerns affecting marine ecosystems can impact the availability and cost of raw materials used in surimi production. Economic downturns or shifts in consumer spending habits may also influence demand patterns within the market.
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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 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 Growth or Demand in which regions?
The Surimi Market exhibits varying demand patterns across different regions, influenced by local culinary traditions, economic factors, and seafood consumption preferences. In Asia-Pacific, particularly in countries like Japan, South Korea, and Thailand, surimi enjoys high demand due to its integral role in traditional cuisines such as sushi, sashimi, and various seafood dishes. The region’s strong seafood culture and preference for healthy, protein-rich foods contribute significantly to market growth.North America and Europe also represent substantial markets for surimi, driven by increasing consumer awareness of healthy eating habits and a growing appetite for seafood alternatives. These regions often witness innovative product developments and marketing strategies aimed at promoting surimi-based products as convenient and nutritious options.In emerging markets across Latin America and parts of Africa, surimi consumption is growing as urbanization progresses and dietary habits evolve. The rise in disposable incomes and expanding middle-class populations in these regions contribute to rising demand for processed seafood products, including surimi.
Surimi 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 Market r . 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 .
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Surimi 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 are:
- What is Surimi Market ?
- What is the growth rate of the Surimi Market ?
- Which are the factors expected to drive the Surimi Market market growth?
- What are the different segments of the Surimi Market ?
- What are the factors restraining the growth of the Surimi Market ?
- What is the demand pattern of the Surimi Market ?
- What major challenges could the Surimi Market face in the future?
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Key Offerings:
- Past Size and Competitive Landscape
- Past Pricing and price curve by region
- Size, Share, Size Forecast by different segment
- Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- 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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