The demand for Surimi in global market has been increasing due to the growing demand for seafood analogs such as imitation crabs and lobster meat. The market expansion is aided by the innovative products such as Surimi noodles and efforts by companies to adopt new taste trends to meet the demands of the consumers. In such a growth rate the Surimi market is expected to reach a higher place in the upcoming decades.
As per Fact.MR analysis, the global surimi market is anticipated to reach a valuation of over US $ 12 billion by 2030, with its growth rate pegged at nearly 6% from 2020 to 2030. A Fact.MR analyst says that “Gap between supply and demand for surimi has been driving prices in recent years, and further imposition of sustainable fishing practices is expected to have a high impact on prices in future”.
The Surimi market study reveals us with some impeccable points about its growth in the forecast period. The surimi market in South East Asia & Oceania is expected to portray the highest growth rate of over 6% during forecast period. 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. It is expected to offer the highest absolute dollar opportunity during the forecast period, as the demand for itoyori accounts for the highest share in the market as per the source. Demand for surimi is higher through direct sales when compared with retail sales. It will definitely show a higher growth rate during the forecast period. And also, the pandemic situation regarding the Covid-19 is expected to have a low to moderate impact over the global surimi market.
With the top players accounting for nearly one fifth of the market share, the surimi market is highly fragmented in nature. High tendency for acquisitions and mergers to increase the revenue share were shown by the players in the market, because of this fragmented nature. One example for this is, the acquisition of Creative Seafood France by Viciunai Group in 2018, aiming at increasing the presence of the company in France, as CSF France holds 10 to 15% of the French surimi market. Many companies are carrying out similar acquisitions. Till the end of the forecast period the surimi market is expected to remain fragmented.
The surimi market report discloses compelling insights into the demand for surimi based on source, packaging, end use and distributing channel across several different regions. An unbiased analysis of the global surimi market, is provided by Fact.MR in its new offering. It is with historical data on demand (2015-2019) and expected projections for the period (2020 – 2030). The food and beverage team at Fact.MR helps clients from all over the world with their unique business intelligence with their expert analysis, actionable insights and strategic recommendations. Over a decade, this team has analyzed 50+ countries with a repertoire of over 1000 reports and 1 million plus data points.