Japan Frozen Seafood Market Insights Forecasts to 2032

• The Japan Frozen Seafood Market Size was valued at USD 747.2 Million in 2022.
• The Market Size is Growing at a CAGR of 2.5% from 2022 to 2032.
• The Japan Frozen Seafood Market Size is Expected to Reach USD 957.3 Million by 2032.

The Japan Frozen Seafood Market Size is Expected to Reach USD 957.3 Million by 2032, at a CAGR of 2.5% during the forecast period 2022 to 2032.

Market Overview

Japan currently represents one of the largest seafood markets globally. Currently, the country ranks second in the world in terms of per capita seafood consumption. Japan's seafood consumption, particularly shrimp consumption, is expected to rise further. The rising demand for healthy food is another major factor driving the growth of Japan's frozen seafood market. Japan's population is aging faster than that of other countries, so demand for frozen seafood products with health benefits such as cholesterol reduction, micronutrients, and essential fatty acids is expected to rise further. Furthermore, the growing number of small and single-person households, as well as the growing number of working women, is boosting the country's frozen seafood industry. Other factors expected to drive market growth include the growing popularity of convenient products such as ready-to-eat meals/semi-processed products/easy-to-prepare fish products, changing lifestyles, new product launches, product premiumization, and rising healthcare expenditures.

Report Coverage

This research report categorizes the market for Japan frozen seafood market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan frozen seafood market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Japan frozen seafood market.

Driving Factors

Increased consumption of seafood drives the growth of the Japan frozen seafood market. The total seafood consumption in the world has consistently increased over the past decades. The rise in consumption has been fueled by rising living standards in developing countries, as well as increased health consciousness in developed countries. Seafood protein is an important nutritional component in many countries, particularly those with low total protein intake. Seafood appeals to health-conscious consumers in a variety of forms, including whole and filleted salmon, tuna, halibut, anchovies, and herring, as well as lobster, scallops, shrimp, crab, clams, and oysters. It is affordable as a result of a thriving seafood trade and aquaculture expansion. Maintaining seafood quality to satisfy these expanding markets necessitates packaging that can increase shelf life by inhibiting freezer burn, enabling rapid freezing, and reducing drip loss. As a result, rising consumption of packaged seafood products influences demand for frozen seafood.

Market Segment

• In 2022, the fish segment accounted for the largest revenue share over the forecast period.

Based on the product type, Japan’s frozen seafood market is segmented into fish, crustaceans, shellfish, mollusks, and others. Among these, the fish segment has the largest revenue share over the forecast period. This is primarily due to increased consumption, the growing popularity of chemical-free fish with longer shelf lives, and a more health-conscious population. Furthermore, large-scale fishing and the growing fish farming trend are both driving demand for segmental growth during the forecast period.

• In 2022, the store-based segment accounted for the largest revenue share over the forecast period.

Based on distribution channel, the Japan frozen seafood market is segmented into store-based, non-store-based. Among these, the store-based segment has the largest revenue share over the forecast period. The performance of specific market segments is driven by the high demand for stored seafood. Furthermore, convenience stores, supermarkets, and hypermarkets are expected to play an important role in boosting Japan frozen seafood market performance during the forecast period. As a result of these features, it has a positive impact on Japan frozen seafood market growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within Japan’s frozen seafood market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

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

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at regional, and country levels from 2021 to 2032. Spherical Insights has segmented Japan’s frozen seafood market based on the below-mentioned segments:

Japan Frozen Seafood Market, By Product Type

• Fish
• Crustaceans
• Shellfish
• Mollusks
• Others

Japan Frozen Seafood Market, By Distribution Channel

• Store based
• Non-store based