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Japan Frozen Seafood Market: Cost Module, Size, Share, Report and Forecast by 2024

Press release   •   Mar 17, 2020 08:09 EDT

According to the latest report by IMARC Group, titled “Japan Frozen Seafood Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the Japan frozen seafood market sizeexperienced steady growth during 2011-2018. Seafood products, particularly fishes, play a key role in Japanese cuisine and represent one of the leading sources of animal protein. They are also rich in micronutrients and essential fatty acids and their regular consumption is widely associated with numerous health benefits. They aid in maintaining healthy eyesight, stimulating brain growth, promoting heart health and improving the overall immune system. Owing to their perishable nature, they are processed using advanced techniques like cryofreezing to lock in their authentic flavor and improve the overall shelf life. The frozen products are then packaged using high-quality packaging solutions to minimize dehydration and oxidation. This reduces the chances of parasitic growth on the food while also enabling easy product transportation.

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Japan Frozen Seafood Market Trends:

The frozen seafood market in Japan is primarily driven by a significant increase in the geriatric population, which has accelerated the demand for easy to make foods. As frozen products are convenient to prepare, it has majorly contributed to their widespread popularity among the elderly population. Additionally, the rising trend of ready-to-eat frozen meals in the country, along with the increasing number of nuclear families and single-person households, has provided a boost to the market growth. Furthermore, the introduction of authentic Japanese meals and side-dishes, made with high quality ingredients, has helped in expanding the consumer base. The growing popularity of online retail stores, owing to the variety offered by these platforms, is further creating a positive outlook for the market. On account of the aforementioned factors, the market is expected to grow at a CAGR of 2.5% during 2019-2024.

Market Breakup by Type:

  • Pacific Salmon
  • Tuna (Bigeye)
  • Mackerel
  • Tuna (Yellowfin)
  • Octopus
  • Crabs
  • Trout
  • Cuttlefish
  • Jack
  • Horse Mackerel
  • Other frozen fish

Among these, pacific salmon currently represents the most preferred segment.

Market Breakup by Distribution Channel:

  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Specialty Retailers
  • Online

At present, supermarkets and hypermarkets exhibit a clear dominance in the market.

Market Breakup by Sector:

  • Retail
  • Institutional

Currently, the institutional sector accounts for the majority of the overall market share.

Competitive Landscape with Key Player:

  • Kibun Foods Inc.
  • Nippon Suisan Kaisha Ltd.
  • Marudai Food Co. Ltd.
  • Maruha Nichiro Corporation

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