Growing demand for seafood analogs such as imitation crabs and lobster meat has been driving demand for surimi in the global market. Innovative products such as surimi noodles and efforts by companies to adopt new taste trends to meet consumer demand are also aiding market expansion. As such, the surimi market is expected to experience high growth in terms of volume over the coming decade.
As per Fact.MR analysis, the global surimi market is anticipated to reach a valuation of over US$ 12 billion by 2030, with its growth rate pegged at nearly 6% from 2020 to 2030.
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Key Takeaways from Surimi Market Study
- East Asia accounts for a share of more than 35% in the global surimi market, and is expected to experience growth of 1.8X by 2030 over the value in 2020.
- The surimi market in South East Asia & Oceania is expected to portray the highest growth rate of over 6% during forecast period.
- Based on source, demand for itoyori accounts for the highest share in the market, and is expected to offer the highest absolute dollar opportunity during the forecast period.
- While demand for chilled or fresh surimi is observed to be high at present, frozen surimi is expected to grow 1.9X by 2030 over the value in 2020.
- Demand for surimi through direct sales is higher in comparison with retail sales, and is expected to show higher growth during the forecast period.
- The COVID-19 pandemic is projected to have a low to moderate impact on the global surimi market.
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“Gap between supply and demand for surimi has been driving prices in recent years, and further imposition of sustainable fishing practices is expected to have a high impact on prices in future,” says a Fact.MR analyst.
Surimi Industry Report Scope
|Market Size in 2020||US$ 3 Bn|
|Market Forecasted Value for 2031||US$ 5.8 Bn|
|Global Growth Rate||~6.1|
|Share of Top 10 Companies||30% to 40%|
|Historical Data Available for||2016-2020|
|Market Analysis||MT for Volume and US$ Million for Value|
|Key Regions Covered||North AmericaLatin AmericaEuropeEast AsiaSouth AsiaOceania MEA|
|Key Countries Covered||United StatesCanadaBrazilMexicoRest of LATAMGermanyU.K.FranceSpainItalyBENELUXRussiaRest of EuropeChinaJapanSouth KoreaIndiaIndonesiaMalaysiaSingaporeRest of South AsiaAustraliaNew ZealandSouth AfricaGCC CountriesRest of South Africa|
|Key Market Segments Covered||SpeciesFormSales ChannelApplicationRegion|
|Key Companies Profiled||Aquamar Inc,Viciunia GroupTrident SeafoodsPacific Seafood GroupSeaPakGlacier Fish CompanyBoston Salads & Prepared FoodsArctic Storm Management GroupOceanFood Sales Ltd.Maruha Nichiro GroupRussia Fishery CompaniesThong Siek GlobalTrans-Ocean ProductsGadre MarineOcean More Foods Co. Ltd.American Seafoods GroupOthers|
|Pricing||Available upon Request|
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Key Segments Covered in Surimi Industry Survey
- By Species
- Fish Surimi
- Alaskan Pollock
- Atlantic Cod
- Black Bass
- Meat Surimi
- Pork Surimi
- Beef Surimi
- Fish Surimi
- By Form
- Fresh Surimi
- Processed Surimi
- Fresh Surimi
- By Sales Channel
- Direct Sales of Surimi
- Indirect Sales of Surimi
- Modern Trade
- Convenience Stores
- Specialty Food Stores
- Wholesale Stores
- Discount Stores
- Online Retail
- Other Retail Formats
- By Application
- Food Industry
- Pharmaceutical Industry
- Animal Feed
- Pet Food
- Food Service
After reading the Surimi Market report, readers can:
- Understand the drivers, restraints, opportunities and trends affecting the growth of the global .
- Analyze key regions holding significant share of the total Surimi Market revenue.
- Study the growth outlook of the global Surimi Market scenario, including production, consumption, history and forecast.
- Learn consumption pattern and impact of each end use on the Surimi Market growth.
- Investigate the recent R&D projects performed by each Surimi Market player.
The Surimi Market report answers important questions which include:
- What does the status of the Surimi Market?
- Surimi Market look like after the forecast period?
- Which region has the highest contribution to the global Surimi Market and why?
- Which players remain at the top of the Surimi Market?
- What opportunities are available for the Surimi Market players to expand their production footprint?
- Which segment has the maximum impact on the Surimi Market?
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No PARAGON CHRONICLE journalist was involved in the writing and production of this article.