Surimi Market size was valued at USD 3.87 billion in 2022 and is expected to grow to USD 5.97 billion by 2029, at a CAGR of 6.2%.
Surimi Market Overview:
Extensive Surimi Market analysis is carried out by attentively monitoring important product positioning and the market framework’s top competitors. Key competitors are profiled and their tactics are extensively examined to grasp the competitive perspective of the global Surimi market.
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Market Scope:
This research on the Surimi industry is based on a thorough examination of the market, supported by secondary and primary sources. Market volume is determined by a country-by-country model mapping of Surimi utilizing internal and external private information, as well as relevant patent and regulatory sources.
Surimi Market Dynamics:
A strong, lightweight, and recyclable material is Surimi. Additionally, it is used to make materials for food packaging as well as consumer items like CD and DVD cases. It is a low-cost, high-strength plastic that may be recycled into materials for home building, used to insulate structures, and be made into sterile disposable cutlery. The market is anticipated to grow over the course of the projected period as a result of the expanding product application scope across various end-use sectors.
The market is being driven by the expanding end markets for Surimi, which include the electronics and construction sectors. The expansion of the Surimi market is being driven by the rising usage of expanded Surimi in building and insulation. The Surimi industry will benefit from the rising construction market.
Surimi Market Segmentation:
The Surimi Market is divided into General Purpose Surimi, High Impact Surimi, and Expandable Surimi based on the type of resin used. With a sales share of about 34.2% in 2022, the High Impact Surimi sector has become the dominating resin type category. High Impact Surimi, which is exceptionally durable and resistant to cracking, is used in the molding process. Painting and gluing are simple and inexpensive. It is used to make housing and covers, weak structural elements, printed graphics, models and prototypes, fittings, and other things. Other grades include those with ignition resistance, high gloss, and environment stress crack resistance. The market expansion for Surimi in this niche is driven by these significant advantages.
by Type
Frozen surimi
Chilled surimi
Fresh surimi
The surimi market is divided into three categories based on type: frozen, chilled, and fresh. With a 70% market share, the frozen surimi category leads the surimi market and is projected to grow at a 7% CAGR over the forecast period. For consumers who prefer to freeze products for later use, frozen surimi is more handy because it has a longer shelf life than fresh and chilled surimi. Furthermore, frozen surimi is more easily accessible for customers and is more readily available than other varieties in many places. The quality and flavor of frozen surimi products have been preserved thanks to advancements in freezing and packaging technologies, which will support the surimi market’s growth in the upcoming years.
by Source
Tropical
Cold Water
Considering the source There are two segments in the surimi market: Tropical and Cold Water. The market was led by the tropical category in 2022, and this trend is expected to continue during the forecast period. Because it is less expensive than other seafood, this segment draws customers who are searching for an affordable way to enjoy seafood. Furthermore, tropical surimi uses fish species that are common in tropical areas, making it a more sustainable option for seafood than traditional seafood. Consequently, the greater market share of this category is probably due in part to the overall quantity of tropical fish.
by Distribution Channel
B2B
B2C
The Surimi Market is divided into two segments based on the distribution channel: Business to Business (B2B) and Business to Customer (B2C).
Over half of the global market was made up of the Business to Business (B2B) sector, which is predicted to continue dominating the market for the duration of the forecast. This is due to the rising demand from the developing market, the food processing industry, and the expanding popularity of surimi in the HoReCa sector. A wide range of businesses, including food processing, animal feed, and food services, employ surimi extensively. Sushi, seafood salads, soups, and other seafood-based foods are just a few of the many uses for the economical and adaptable surimi.
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Key Players:
A team of research professionals updates and amends our data regularly to reflect the most recent trends and facts. To fulfill the needs of both individual and corporate clients, we have substantial competence in research and consulting for a wide range of business disciplines. Our knowledgeable staff uses proprietary data sources as well as a range of additional approaches. The key players in the Surimi business are…
1. Viciunai Group (Lithuania)
2. Trans-Ocean Products (USA)
3. Seaprimexco Vietnam (Vietnam)
4. Thong Siek Global (Thailand)
5. Gadre Marine (India)
6. Ocean More Foods Co., Ltd. (China)
7. APITOON (Thailand)
8. Luck Union Foods (Thailand)
9. Sugiyo Co., Ltd. (Japan)
10. Aquamar Inc. (Canada)
11. Fujimitsu Corporation (Japan)
12. SeaPak (USA)
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Regional Analysis:
The study presents regional competitive circumstances. These insights help market participants improve their approaches and provide new opportunities to achieve amazing results.
COVID-19 Impact Analysis on Surimi Market:
The spread of the COVID-19 pandemic has had a wide-ranging influence on people’s lives all around the world. Markets have been forced to adopt new norms, trends, and tactics as a result. Essentially, the study report tries to paint a picture of the market’s initial and future projections.
Key Questions Answered in the Surimi Market Report are:
- What will be the CAGR of the Surimi market during the forecast period?
- Which segment emerged as the leading segment in the Surimi market?
- Which are the prominent players in the Surimi market?
- What will be the Surimi market size by 2027?
- Which company held the largest share in the Surimi market?
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