The surimi market has shown moderate growth in the past few years, and is expected to witness a consistent growth in the coming years. As far as supply of surimi is concerned, it has experienced quite a fluctuation in the past few years. Moreover, the demand for surimi has also been increasing in the last decade. Consequently, the prices of surimi raw material and end products was also increased. Investments by companies to enhance penetration, increase consumer expenditure on seafood, and government investments & regulations to enhance sustainable catch are anticipated to drive the expansion of the surimi market size during the forecast period.
COVID-19 Impact analysis
- COVID-19 crisis has had low impact on the surimi market because of lower trade volumes.
- The market has shown fluctuation in the prices in 2nd quarter of 2020, but then recovered in the 3rd quarter of 2020.
- The impact of pandemic on the surimi market was higher in Asian countries and Europe, while it was low in North American countries.
- The households have increased purchasing surimi due to stockpiling by consumers.
Top Impacting Factors
- One of the key reasons for higher growth of surimi market is the use of surimi in value-added products and seafood products.
- It has been experimented that people are quite addictive of taking snacks and it is especially for those who have habit of eating exotic dishes at regular intervals, which is another impacting factor for the surimi market growth.
- It has also been experimented that there is large consumer base that has become quite health conscious, surimi being super healthy increased the growth of the surimi market.
- Usage in salads and assorted snacks is expected to create traction as far as demand for surimi is concerned.
In terms of players operational within the surimi market, this area has witnessed multiple changes in recent years. Players operational within the market are expected to expertise fluctuations because of inorganic methods deployed by them and new rising players entering into the market.
For example, Norwegian Cluster Pescamar Holding is one among the new entrants within the surimi market, with its acquisition of Argentinean Hoki Fishing and surimi process company San Arawa in mid-2019.
In 2019, Vardin, one among the suppliers of body of water fish, declared plans to reconstruct its process facility with the implementation of a surimi process line. This process line is anticipated to be operational in 2020.
Owing to such investments and new entrants during this area, the surimi market is anticipated to expertise outstanding growth during the forecast period.
Key Benefits of the Report
- This study presents the analytical depiction of the SURIMI MARKET industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the SURIMI MARKET share.
- The current market is quantitatively analyzed to highlight the SURIMI MARKET growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed SURIMI MARKET analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Report
- Who are the leading market players active in the SURIMI MARKET?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is “SURIMI MARKET” prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "SURIMI MARKET"
Surimi Market Report Highlights
By Distribution Channel
Key Market Players
Aquamar, Apitoon Group, Viciunai Group., Ocean Food Company Ltd.