Dried Seafood Market Size, Share, Growth, and Industry Analysis, By Type (Dried Prawns & Dried Fish), By Application (Offline Sales & Online Sales) and Regional Insights and Forecast to 2032

• 

   Request a Free Sample To Get More Information on this Market

DRIED SEAFOOD MARKET REPORT OVERVIEW

The global Dried Seafood Market size was valued at approximately USD 4 billion in 2023 and is expected to reach USD 6.8 billion by 2032, CAGR of 6% during the forecast period.

The market of dried seafood products is one of the perspective segments of the international food markets, which is developed due to the long history of fishing and agriculture and the continuously growing popularity of the products with the long shelf life. Dried seafood products such as dried prawn and fish are very famous among Malaysians because of their strong flavor, rich in nutrients, and ability to be eaten and used in all types of dishes. It is facilitated by the post-hoc barbarian classic type of consumption linked with the coasts as well as the continuously rising global demand for natural, specially processed food. As consumers are increasingly seeking convenient and global dishes, the opportunities of the dried seafood market stay extensive; the offline and online sales both show a rise.

COVID-19 IMPACT

"Market Growth Restrained during Pandemic due to disruptions"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The global market of dried seafood has been affected negatively because of the outburst of COVID-19, which caused disruption of chain supply and low demand among consumers. Controlling the spread of the virus led to constraints in the supply of raw materials and disruption in manufacturing and supply chain, more so in countries that relied on exports. Also, due to many restaurants and food services shutting down and a decrease in tourists, it affected the reduced purchasing of dried seafood products. This period was characterized by immense difficulty in operating in the market to allow businesses to survive.

LATEST TRENDS

"Market growth is driven by sustainability and e-commerce trends"

Ongoing trends that are being observed in the dried seafood market, most especially the increasing trend in the penetration of the premium, sustainable seafood markets. People are becoming conscious about the sources of the products they use and the environmental factors affecting food production, hence pressuring firms to provide details and engage in sustainable fishing. This is even more evident with younger and better-informed customers with a special focus on the sustainability of the consumed products. Also, the market involves growth in e-commerce platforms and other features such as packaging that improves shelf life and consumer convenience.

DRIED SEAFOOD MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Dried Prawns & Dried Fish.

• Dried Prawns: In the sector of dried seafood particularly the dried prawn, the main use is as a condiment in various delicacies especially the Asian kind. It is preferred for its intense meaty flavor, which is very useful when seasoning various types of soups, stews, and sauces. The demand for dried prawns is increasing because of their prolonged shelf life and added use in the preparation of meals in the home as well as institutions.

• Dried Fish: Fish that has been sun- or smoke-dried is consumed in most coastal areas of the globe, and it is very rich in protein and has its own unique tastes depending on the type of fish used. This segment of the dried seafood market is driven by this attribute since one can eat the dried fish as is, use it to prepare meals, include it in the preparation of curry dishes, or even re-boil it in water to be cooked. The market for dried fish continues to be high, thanks to people’s perception of this fish and the current trend towards more traditional and conserved products.

By Application

Based on application the global market can be categorized into Offline Sales & Online Sales.

• Offline Sales: The offline channel for the sale of the dried seafood is constituted primarily by supermarkets, specialty stores, and local markets, where customers have the opportunity to assess the quality of the product before purchasing. This segment is close to customers, and customers trust immediate outlets like the brick-and-mortar stores. Furthermore, the sales through the traditional methods of dried seafood are associated with the culture of buying the products offline, especially in the geographical locations where the consumption is usual.

• Online Sales: The home delivery segment of dried seafood sales is expanding at a fast rate due to the availability of better and a greater variety of products from different markets. E-marketplaces and relevant web sites allow dried seafood to be marketed to domestic and international consumers with ease should this be out of their local reach. The segment is also driven by the growing public assurance of goods bought online and the constantly escalating rates of online grocery shopping.

DRIVING FACTORS

"Market growth is driven by demand for convenient, long-lasting foods"

A major driver created by the need for long-lasting preservative foods that are easily manageable and easy to prepare through the drying process is a major reason consumers consume dried seafood. Given this lateness, consumption is also increasing as the younger generation proceeds to practice what is referred to as the ‘fast-paced’ or ‘hectic’ stressful lifestyle. Dried seafood is readily sold for instant use. This has especially been the case in urban areas because people here hold time dear buying cooking solutions to save it.

"Market growth is driven by global culinary diversity"

The flexibility of dried seafood products in the seasoning of cuisines across the world market is also another factor driving the market growth. Due to increasing awareness of other cultures, especially in relation to food, dried prawns, fish, and other sea foods are now used in traditional as well as fusion meals. This growth in culinary application in turn has driven the demand locally as well as in the export market.

RESTRAINING FACTORS

"Market growth is threatened by overfishing and sustainability concerns"

A major threat to the Dried Seafood Market Growth is the preservation of resources and possible overfishing. These environmental concerns make it possible for governments to agree on stringent measures that could affect the availability and possible high cost of some of these species in the market. However, consumers are now aware of environmental sustainability, which may pull down the demand for products that are associated with negative impacts on the environment.

• 

   Request a Free Sample To Get Analysis on Major Geographic Market

DRIED SEAFOOD MARKET REGIONAL INSIGHTS

"Market growth is led by North America's development and demand"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America holds the largest Dried Seafood Market Share because of the highly developed food processing market and the increased consumer demand for more convenient food products. The developed retail markets in Southeast Asia and developed eCommerce portals help in the distribution of dried seafood products. Also included the interest of North American people in international dishes and high-quality and premium-class seafood. This has been enhanced by the continuous innovation and the invasion of such large players in the market as Amazon and Alibaba in the region.

KEY INDUSTRY PLAYERS

"Key players boost market growth through innovation and sustainability"

Several key movers are enhancing the market of dried sea foods through the development of the various products and increasing the accessibility of the products. They spend resources in getting raw materials from sustainable sources and in the utilization of higher technologies in the preparation of their products to make them superior in quality and durability. Also, the strategic alliances/associations and international marketing activity enhance market conquest, being aware of the latest consumer needs, thus aiding the overall market growth.

List of Top Dried Seafood Companies

• Med Ozsoy (Turkey)
• Gösta Fish & Seafood AB (Sweden)
• Central Sea (India)
• SWC Freshmart (Malaysia)
• LSK Fishery (Malaysia)

INDUSTRIAL DEVELOPMENT

July 1, 2024: Thai Union Group launched their new “Ocean Harvest Premium Dried Seafood Line”. This new product line features a range of high-quality dried seafood items, including shrimp, squid, and fish, processed using advanced dehydration techniques to enhance flavor and extend shelf life. The Ocean Harvest line focuses on premium packaging and sustainability, aiming to meet growing consumer demand for high-quality, responsibly sourced dried seafood products.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.