According to the latest report by IMARC Group, titled “Japan Frozen Seafood Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the Japan frozen seafood market size experienced 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.
- On the basis of the type, the market has been divided into pacific salmon, tuna (bigeye), mackerel, tuna (yellowfin), octopus, crabs, trout, cuttlefish, jack and horse mackerel, and other frozen fish. Among these, pacific salmon currently represents the most preferred segment.
- Based on the distribution channel, the market has been divided into supermarkets and hypermarkets, convenience stores, specialty retailers, online and others. At present, supermarkets and hypermarkets exhibit a clear dominance in the market.
- On the basis of the sector, the market has been bifurcated into retail and institutional. Currently, the institutional sector accounts for the majority of the overall market share.
- The competitive landscape of the market has been studied in the report, with the detailed profiles of the key players operating in the market. Some of these players include Kibun Foods Inc., Nippon Suisan Kaisha, Ltd., Marudai Food Co. Ltd., and Maruha Nichiro Corporation.
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