The global surimi market size is expected to reach USD 10.64 billion by 2032, expected to grow at a CAGR of 5.90% during the forecast period.
The Surimi Market focuses on the production, distribution, and application of surimi, a processed fish paste derived primarily from white fish such as pollock, hake, and whiting. Surimi is widely used to produce imitation seafood products like crab sticks, fish balls, and shrimp substitutes. Its popularity stems from its versatility, cost-effectiveness, and adaptability to various culinary applications.
Market Growth Drivers
- Increasing Demand for Seafood-Based Protein:
As consumers seek healthier protein alternatives, surimi products offer a low-fat, high-protein option. - Rising Popularity of Convenience Foods:
Pre-packaged surimi-based products such as crab sticks and fish balls align with busy lifestyles and growing demand for ready-to-eat meals. - Expanding Asian Cuisine Popularity:
Surimi, a key ingredient in Asian dishes, is gaining global recognition as Asian cuisine becomes mainstream.
Some of the major players operating in the global market include:
- American Seafoods Group
- Apitoon Group
- Aquamar Inc (Lm Foods LLC)
- Gadre Marine Pvt. Ltd.
- Glacier Fish Company LLC
- Ocean Food Company Ltd.
- OceanFood Sales Ltd.
- Pacific Seafood Group
- Russian Fishery Company LLC
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Key Trends
- Introduction of Plant-Based and Alternative Surimi:
The rise of plant-based diets has led to the development of vegan surimi alternatives, catering to a broader consumer base. - Enhanced Product Innovation:
Manufacturers are exploring flavored and fortified surimi products to attract health-conscious consumers. - Growing Demand for Frozen Surimi:
The preference for frozen over chilled products is growing due to longer shelf life and global trade expansion.
Recent Developments
- In December 2021, Shining Ocean completed the acquisition of the True World Group by the Aquamar. True World Foods, a company owned by the TWG that distributes fish to food-service venues, has locations in the US, Canada, the UK, & Spain.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
The research report categorizes the market into various segments and sub-segments. The primary segments covered in the study include type, application, end use and region. The splitting of the market into various groups enables businesses to understand market preferences and trends better. Also, stakeholders can develop products/services that align with the diverse needs of consumers in the industry. Besides, the research study includes a thorough examination of all the major sub-segments in the market.
Surimi, Source Outlook (Revenue – USD Billion, 2019-2032)
- Alaska Pollock
- Pacific Whiting
- Silver Carp
- Others
Surimi, Packaging Outlook (Revenue – USD Billion, 2019-2032)
- Chilled or fresh
- Frozen
Surimi, Distribution Channel Outlook (Revenue – USD Billion, 2019-2032)
- Direct Sales
- Retail Sales
- Supermarkets and Hypermarkets
- Online Retails
- Wet Market
- Other
The Surimi Market is positioned for growth as consumers seek nutritious, versatile, and affordable seafood alternatives. Innovations in processing technologies, the introduction of plant-based surimi, and increasing awareness of sustainable practices are shaping the market’s future. As global demand for convenience foods and seafood continues to rise, surimi is set to remain a key player in the processed seafood industry.
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