Surimi Market Size & Supplier Analysis - Growth Trends, Forecasts, and Share Analysis (2023-2028)
Global Surimi Market is expected to reach US$ 8.5 billion by 2030, registering a CAGR of over 2.9% , a report by RationalStat
Wilmingtob,Delaware, Aug. 22, 2023 (GLOBE NEWSWIRE) -- *Global Surimi Market* is valued at *US$ 6.8 billion in 2022* and is expected to grow at a significant *CAGR of over 2.9%* over the forecast period of 2023-2030, according to the latest market report by *RationalStat*
*Market Definition, Market Scope, and Report Overview*
A number of seafood-based goods are manufactured from surimi, a processed seafood product made from fish meat that is commonly minced or pureed. Products made from surimi are frequently promoted as healthier substitutes for conventional fish dishes. They can entice health-conscious consumers because they are low in fat and a solid source of lean protein.
Products made from surimi are practical and simple to utilize in a variety of meals. Surimi-based goods match this trend as busy lifestyles continue to increase demand for ready-to-eat or simple-to-prepare cuisine.
· According to a deep-dive market assessment by RationalStat, the global surimi market has been analyzed *on the basis of market segments, including source, form, application, and distribution channel, and geography/regions (incl. North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific)*. The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
· Market intelligence for the global surimi market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units/Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
· In addition, the long-term sector and products/services 10-year outlook and its implications on the global Surimi market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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*Global* *Surimi Market: Segmental and Market Share Analysis*
· On the basis of form, frozen surimi is dominating the global surimi market. Frozen surimi is a product that can be readily sent and preserved frozen, making it an excellent choice for online shops.
· On the basis of application, food industry division is expected to surge at a CAGR of 5.0% during the forecast period of 2023 to 2030.
· On the basis of distribution channel, in 2022, the hypermarkets and supermarkets segment retained a considerable proportion of roughly 30%. This is due to a bigger product assortment compared to other retail locations.
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*Period Covered include data for 2019-2028 along with year-wise demand estimations*
The surimi market report analyzes the market on the basis of global economic situations, regional geopolitics, import-export scenarios, trade duties, market developments, organic and inorganic strategies, mergers and acquisitions, product launches, government policies, new capacity addition, technological advancements, R&D investments, and new market entry, replacement rates, penetration rates, installed base/fleet size, global and regional production capacity, among others.
RationalStat offers market analysis and consulting studies on the basis of dedicated and robust desk/secondary research supported by a strong in-house data repository. In addition, the research leverages data based on the real-time insights gathered from primary interviews. Market estimations and insights are based on primary research (covering more than 240 entities) and secondary research by leveraging international benchmarking.
The global surimi market report also covers value chain and supply chain analysis that provides in-depth information about the value chain margins and the role of various stakeholders across the value chain. Market dynamics provided in the market study include market drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period.
In the competition analysis section, the global surimi market provides a detailed competition benchmarking analysis based on the market share of the leading companies/ brands/producers/suppliers, a market structure overview with detailed company profiles of more than 25 players with their financials, product/service offerings, major developments, business models, etc. This enables, clients and report buyers to make strong, precise, and timely decisions.
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*Macroeconomic Scenario and the Impact of COVID-19 on Regional Economic Sentiment *
In the latest RationalStat analysis, geopolitical conflicts and inflation are the cited economic risks, while concerns about the volatility across energy sectors prevail in Europe and other parts of the world. Some of the potential risks to the economic growth in the leading regions, including Asia Pacific, Europe, North America, the Middle East & Africa, and other developing regions, are inflation, volatile energy prices, supply chain disruptions, geopolitical instability, labor shortages, rising interest rates, and COVID-19 pandemic.
The global economy experienced heavy headwinds, throughout 2019-2021, as some countries witnessed subdued growth, while other countries continued to grapple with economic slowdowns. The COVID-19 pandemic has levied undue pressure across the majority of industries globally and has caused a major economic crisis in the US, India, Italy, the UK, Germany, India, Japan, South Korea, the UK, and many others. Besides, the exit of the UK from the European Union earlier in 2020 and the Russo-Ukraine war in 2022 exacerbated the ever-heightened global uncertainty.
In addition to this, the global economic growth slowed in 2022 to 3.3%, weaker than expected at the end of 2021, mainly weighed down by Russia’s war in Ukraine and the associated cost-of-living crisis in many countries. However, improvement in economic activities during the forecast period is expected. Growth is projected to remain at lower rates in 2023 and 2024, at 2.6% and 2.9% respectively.
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*Competition Analysis and Market Structure *
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global surimi market include,
· In January 2023, Santa Bremor announced that it will relocate the production of surimi sticks to its Russian Sea plant in Noginsk.
· In September 2020, The Crab Tsumami line of surimi-based foods was introduced by the Japanese seafood firm Maruha Nichiro. Real crab flesh and surimi paste are combined to make these.
Some of the prominent players and suppliers operating and contributing significantly to the global surimi market growth include *HAI THANH CO LTD, MEENA Brand Surimi, APITOON GROUP, Starfish Co Ltd, Java Seafood, PT INDO SEAFOOD, Southern Marine, SEAPRIMEXCO, Zhejiang Longsheng Aquatic Products Co Ltd, PT Indonesia Bahari Lestari **among others.*
*RationalStat has segmented the global **surimi* *market based on source, form, application, and distribution channel** and region*
· *Global **Surimi* *Market ***Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Source**
· Tropical
· Cold Water
· Alaska Pollock
· Pacific Whiting
· Others
· *Global **Surimi* *Market **Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Form*
· Frozen
· Fresh
· *Global **Surimi* *Market **Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Application*
· Food Industry
· Pharmaceutical Industry
· Animal Feed
· Pet Food
· Food Services
· *Global **Surimi* *Market **Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Distribution Channel*
· Hypermarkets & Supermarkets
· Convenience Stores
· Online
· *Global **Surimi* *Market **Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Region*
· North America SurimiMarket
· US
· Canada
· Latin America SurimiMarket
· Brazil
· Mexico
· Rest of Latin America
· Western Europe SurimiMarket
· Germany
· UK
· France
· Spain
· Italy
· Benelux
· Nordic
· Rest of Western Europe
· Eastern Europe SurimiMarket
· Russia
· Poland
· Hungary
· Other CIS Countries
· Rest of Eastern Europe
· Asia Pacific SurimiMarket
· China
· Japan
· India
· South Korea
· Australia
· ASEAN
· Indonesia
· Thailand
· Philippines
· Vietnam
· Malaysia
· Rest of ASEAN
· Rest of Asia Pacific
· Middle East & Africa SurimiMarket
· GCC
· Saudi Arabia (KSA)
· United Arab Emirates (UAE)
· Rest of the GCC
· South Africa
· Nigeria
· Turkey
· Rest of the Middle East & Africa
· **Leading Companies and Market Players**
· HAI THANH CO LTD
· MEENA Brand Surimi
· APITOON GROUP
· Starfish Co Ltd
· Java Seafood
· PT INDO SEAFOOD
· Southern Marine
· SEAPRIMEXCO
· Zhejiang Longsheng Aquatic Products Co Ltd
· PT Indonesia Bahari Lestari
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*Key Questions Answered in the Surimi Report:*
· What will be the market value of the global surimi market by 2030?
· What is the market size of the global surimi market?
· What are the market drivers of the global surimi market?
· What are the key trends in the global surimi market?
· Which is the leading region in the global surimi market?
· What are the major companies operating in the global surimi market?
· What are the market shares by key segments in the global surimi market?
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*Research Methodology*
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
· Defining the problem by understanding the type of market and data required by the client.
· Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
· Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
· Evaluating and analyzing the data by referring to data sources utilized and leveraged.
· Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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*About RationalStat LLC *
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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