Latin America Frozen Seafood Market

Latin America Frozen Seafood Market Growth and Forecast (2023 - 2028):

Latin America Frozen Seafood Market was worth USD 5.31 billion in 2022 and estimated to be growing at a CAGR of 4.79%, to reach USD 6.68 billion by 2028.

Market Overview:

Frozen fish and seafood are food items which are packaged in order to increase the shelf life of the products. Due to the rising urbanisation, there has been an increase in the demand for convenient food products which are easy and quick to make.

Drivers and Restraints:

A rise in the working women population base, improving living standards and the growth of urban settlements are adding to the popularity of convenience food products which in turn drives the growth of the market. However, various health concerns and the need to reduce fish contamination remain key challenges for leading vendors.

Latin America Frozen Seafood Market Segmentation Analysis:

Latin America Frozen Seafood Market Segmentation by distribution channel. By distribution channel the market is analyzed under supermarkets and hypermarkets, independent retailers, convenience stores, speciality retailers and others.  Among these, supermarkets and hypermarkets dominated the market and are expected to retain their leading position over the forecast period. This segment is finding increased acceptance among sellers as a highly attractive retail outlet to sell different types of frozen fish and seafood, because of the accessibility it grants to a vast range of products at discounted prices. Convenience stores and independent retailers are also projected to obtain a considerable market share over the forecast period on account of the growing sales of frozen fish and seafood across different countries.

Region Analysis:

Geographically the Latin America Frozen Seafood Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America.

Key Players in the Market:

Major Key Players in the Latin America Frozen Seafood Market are

• Leroy Seafood
• High Liner Foods
• Marine Harvest
• Iglo Group
• Beijing Princess Seafood International Trading
• Austevoll Seafood
• Fishery Products International
• Clearwater Seafood
• AquaChile
• Sajo Industries
• Lyons Seafoods
• Shanghai Kaichuang
• Hansung Enterprise
• Marine International
• Surapon Foods Public
• Tri Marine International
• Tassal Group
• Toyo Suisan Kaisha