Press release
Surimi Market is Attribute to Reach US$ 12 Billion Revenues by 2031
Surimi Market
The surimi market witnessed a favourable demand-supply scenario from 2016 to 2020 due to stable global production and rising demand. Demand for surimi is expected to continue to rise from the food service and food manufacturing sector, and also among consumers who prefer to cook at home.
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Key Segments Covered in Surimi Industry Survey
By Species
Fish Surimi
Alaskan Pollock
Atlantic Cod
Tilapia
Black Bass
Others
Meat Surimi
Pork Surimi
Beef Surimi
By Form
Fresh Surimi
Whole
Fillet
Processed Surimi
Canned
Frozen
Whole
Fillet
By Sales Channel
Direct Sales of Surimi
Indirect Sales of Surimi
Modern Trade
Convenience Stores
Specialty Food Stores
Wholesale Stores
Discount Stores
Online Retail
Other Retail Formats
By Application
Food Industry
Pharmaceutical Industry
Animal Feed
Pet Food
Food Service
Retail
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Key Takeaways from Surimi Market Study
East Asia accounts for a share of more than 35% in the global surimi market, and is expected to experience growth of 1.8X by 2030 over the value in 2020.
The surimi market in South East Asia & Oceania is expected to portray the highest growth rate of over 6% during forecast period.
Based on source, demand for itoyori accounts for the highest share in the market, and is expected to offer the highest absolute dollar opportunity during the forecast period.
While demand for chilled or fresh surimi is observed to be high at present, frozen surimi is expected to grow 1.9X by 2030 over the value in 2020.
Demand for surimi through direct sales is higher in comparison with retail sales, and is expected to show higher growth during the forecast period.
The COVID-19 pandemic is projected to have a low to moderate impact on the global surimi market.
Why are Fish Surimi Highly Sought-after across the World?
According to Fact.MR, fish surimi are estimated to account for a major market share in 2021, but sales of meat surimi are expected to witness a significant growth rate at 7.9% CAGR through.
Fish surimi is low in calories and fat, making it an ideal addition to a diet for those attempting to lose weight or shed excess pounds. Low-fat low-cholesterol foods are an option for preventing chronic illnesses such as heart disease.
In fish surimi, itoyori sourced surimi and Pacific whiting sourced surimi are expected to witness lucrative growth in demand owing to their nutritional properties and wide-range application in Asian cuisines.
Which is the Most Attractive Form of Surimi?
In 2021, the fresh surimi segment accounted for high share in the global market, but demand for processed surimi is expected to rise at a CAGR of 7.8% over the forecast period of 2021 to 2031.
Under processed surimi, frozen surimi demand is expected to remain stable, while that for canned surimi is projected to rise faster.
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After reading the Market insights of Surimi Report, readers can:
• Understand the drivers, restraints, opportunities and trends affecting the Sales of market.
• Analyze key regions holding significant share of total Surimi market revenue.
• Study the growth outlook of Surimi market scenario, including production, consumption, history and forecast.
• Learn consumption pattern and impact of each end use & supply side analysis of Surimi market.
• Investigate the recent R&D projects performed by each market player & competitive analysis of Surimi Market Players.
How Fact.MR Assists in Making Strategic Moves For Surimi Market Manufacturer?
• The data provided in the Surimi market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
• The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.
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Competition Landscape
Surimi is commonly used in foodservice and food manufacturing industries to prepare seafood such as crab sticks, fish sticks, and crab flakes, among others. Because of high demand for and application of surimi, top companies in the surimi market are focusing on increasing their distribution networks to reach a bigger consumer base.
This is increasingly prevalent among major manufacturers who want to expand their global footprint. Top frozen brands are focusing on acquiring smaller brands to enhance their distribution network and manufacturing capacity. For instance, the acquisition of Creative Seafood by Viciunai Group was aimed at strengthening its presence in France.
In 2021, The Russian Fishery Company (RFC) signed contracts to supply majority surimi to top Russian producers of surimi products, such as Vichinai Group, Meridian and Santa Bremor, among others
In 2021, Trident Seafoods, based in Seattle, teamed up with celebrity chef Nancy Fullerto to promote the company's newly launched Louis Kemp surimi fish products.
Similar recent developments related to companies offering surimi have been tracked by the team at Fact.MR, which are available in the full report.
Explore Fact.MR’s Comprehensive Coverage on Food and Beverages Landscape
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Animal Feed Probiotics Market- https://www.factmr.com/report/2891/animal-feed-probiotics-market
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