IMARC Group's report titled "Surimi Market by Packaging (Chilled or Fresh, Source), Source (Alaska Pollock, Pacific Whiting, Silver Carp and Others), Distribution Channel (Direct Sales, Retail Sales, Supermarkets and Hypermarkets, Online Retails, Wet Market), and Region 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the global surimi market share. The global market size reached US$ 6.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 10.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.84% during 2024-2032.
Global Surimi Market Trends:
The growing emphasis on functional and fortified surimi products is offering a favorable market outlook. Recognizing the consumer interest in foods with added health benefits, manufacturers are infusing surimi with vitamins, minerals, and other functional ingredients. This trend is particularly appealing to health-conscious consumers who are looking for more than just basic nutrition from their meals. Functional surimi products are being marketed not only for their taste and versatility but also for their enhanced nutritional profiles, catering to a niche market that prioritizes health and wellness.
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Factors Affecting the Growth of the Surimi Industry:
- Increasing Demand for Seafood Products:
The rising consumption of seafood products among the masses on account of the increasing awareness about the health benefits associated with seafood consumption is impelling the market growth. Seafood is rich in essential nutrients like omega-3 fatty acids, which are known to benefit heart health and cognitive function. Surimi, a processed fish paste, is often served as a base for various seafood analogs, including imitation crab, shrimp, and lobster. The versatility of surimi in mimicking the texture and flavor of more expensive seafood products also makes it an attractive option for consumers looking for affordable yet healthy food choices.
- Advancements in Food Processing Technology:
The rising improvements in food processing technology are bolstering the market growth. These technological advancements are making the production of surimi more efficient and cost-effective, thus increasing its availability and affordability. Innovations in freezing technology are enhancing the quality of frozen surimi, extending its shelf life, and preserving its texture and flavor. Moreover, advancements in extrusion and molding technologies are enabling manufacturers to produce a wide range of surimi-based products with varied textures and shapes, catering to diverse consumer preferences. This technological progression not only supports the supply but also appeals to a broader consumer base, including those interested in culinary diversity and innovative food products.
- Health and Dietary Trends:
The growing preferences for protein-rich and low-fat foods due to the increasing number of people adopting healthier eating habits is offering a favorable market outlook. Surimi fits well into this category as it is a high-protein, low-calorie product that can be a part of various diet plans, including weight loss and muscle-building diets. Additionally, surimi is gluten-free and low in mercury, making it a safe choice for individuals with dietary restrictions or health concerns. The rising prevalence of lifestyle diseases, such as obesity and diabetes, is encouraging consumers to seek healthier food options, and the nutritional profile of surimi makes it an attractive choice for health-conscious consumers.
Leading Companies Operating in the Global Surimi Industry:
- 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
- Seaprimexco Vietnam
- Thong Siek Global
- Trident Seafoods Corporation
- Viciunai Group
Surimi Market Report Segmentation:
By Packaging:
- Chilled or Fresh
- Source
Chilled or fresh holds the biggest market share attributed to consumer preference for the perceived freshness and quality of such products.
By Source:
- Alaska Pollock
- Pacific Whiting
- Silver Carp and Others
Alaska pollock exhibits a clear dominance in the market due to its abundant availability and suitability for surimi production.
By Distribution Channel:
- Direct Sales
- Retail Sales
- Supermarkets and Hypermarkets
- Online Retails
- Wet Market
Direct sales represent the largest segment, as it enables surimi producers to establish direct relationships with buyers, reducing intermediaries.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific dominates the market, driven by the growing seafood consumption and increasing production capacity of surimi in the region.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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