South America Frozen Fish & Sea Food Market Outlook, 2029

The number of working women is increasing, living standards are rising, and metropolitan areas are expanding, all of which contribute to the appeal of convenience foods and, in turn, the expansion of the frozen fish and seafood market in South America. South America has seen a steady rise in the demand for frozen fish and seafood. This development has been attributed to elements including evolving eating patterns, growing consumer knowledge of the health advantages of seafood, and the practicality of frozen goods. South America also exports a sizable amount of frozen fish and seafood, and metropolitan areas are expanding, all of which contribute to the appeal of convenience foods and, in turn, the expansion of the frozen fish and seafood market in South America. South America also exports a sizable amount of frozen fish and seafood. Countries like Chile and Argentina have been utilising their advantageous competitive positions and rich marine resources to export frozen seafood to a variety of countries. The variety of products available in the South American frozen fish and seafood market has increased. There has been a surge in value-added items, such as breaded fish, marinated seafood, and ready-to-eat seafood dinners, in addition to conventional frozen fish fillets. Technology continues to play a significant role in the frozen fish and seafood market. Advanced freezing techniques, such as individually quick freezing (IQF), help preserve the texture and flavor of the seafood. Innovations in packaging, such as vacuum-sealed pouches and modified atmosphere packaging (MAP) enhance product shelf life and maintain quality. According to the research report, “South America Frozen Fish and Seafood Market Outlook, 2029", published by Bonafide Research, the market is projected to add more than USD 1.08 Million from 2024 to 2029. South America is blessed with an extensive coastline and rich marine resources. Countries like Chile, Peru, Argentina, and Ecuador have access to a diverse range of fish and seafood species from the Pacific Ocean and the Atlantic Ocean. This abundance allows for a wide variety of frozen fish and seafood options. South America offers a wide range of fish and seafood species, some of which are unique to the region. For instance, Chilean sea bass (also known as Patagonian toothfish), Argentine red shrimp, Ecuadorian shrimp, and Peruvian anchovies are highly sought-after species that are exported worldwide. This variety allows for diverse flavors and culinary experiences. Furthermore, South America has a rich culinary heritage that incorporates fish and seafood into traditional dishes. Ceviche, a popular dish made with raw fish or seafood marinated in citrus juices, originated in South America and has gained international popularity. The cultural diversity and culinary traditions of the region contribute to the unique flavors and preparations of frozen fish and seafood products. The rise of e-commerce and digital platforms has had a significant impact on the frozen fish and seafood market in South America. Online platforms provide consumers with a convenient and accessible way to purchase frozen seafood products. E-commerce offers a wide product selection, competitive pricing, and doorstep delivery, driving market growth and expanding market reach.

Colombia is the largest market of frozen fish and seafood market in South America. Colombia has a lengthy coastline along both the Pacific Ocean and the Caribbean Sea, providing access to a diverse range of fish and seafood resources. This coastal geography allows for a consistent supply of fresh seafood and supports the development of the frozen fish and seafood industry. There is a growing demand for frozen fish and seafood products in Colombia driven by factors such as population growth, urbanization, changing dietary habits, and increasing disposable incomes. Consumers are seeking convenient and high-quality food options, and frozen fish and seafood provide an accessible solution with longer shelf life and year-round availability. Colombian consumers are becoming more conscious of food safety and quality standards. They seek assurances that the frozen fish and seafood products they consume meet the required hygiene and safety standards. Colombian consumers are increasingly interested in exploring different cuisines and incorporating international flavors into their diets. This includes the consumption of seafood dishes inspired by various global cuisines. Based on product type, market includes Shrimp, Salmon, Tuna, Tilapia, Pangasius, and Catfish. The shrimp is positively dominating the market in South America. Shrimp has gained significant popularity and is in high demand in South America. It is widely consumed due to its delicate flavor, versatile cooking options, and nutritional value. The growing consumer preference for shrimp as a seafood choice contributes to its strong market position in the frozen fish and seafood industry. South American countries, such as Ecuador, Peru, and Argentina, are major shrimp exporters. These countries have favourable climate conditions and suitable coastal areas for shrimp the abundance and quality of South American shrimp make it highly sought after in international markets, leading to increased export opportunities and market dominance. Frozen shrimp offers convenience and an extended shelf life compared to fresh shrimp. Frozen shrimp can be stored for longer periods, allowing for year-round availability and reducing the reliance on seasonal harvests. This convenience factor appeals to consumers who desire a consistent supply of shrimp throughout the year. Shrimp is considered a healthy seafood option due to its low-calorie content and high protein levels. Ceviche is a popular dish in several South American countries, particularly in coastal regions. It typically consists of raw fish or seafood that is marinated in citrus juices, such as lime or lemon, along with onions, peppers, and other seasonings. The acidic marinade "cooks" the fish or seafood, giving it a tangy and refreshing flavor. Ceviche is often enjoyed as an appetizer or a light meal. South America is known for its hearty fish stews and soups. Different countries have their own variations of these dishes. For instance, Brazil, Moqueca is a traditional fish stew made with fish, coconut milk, tomatoes, onions, and spices. In Peru, Chupe de Camarones is a shrimp soup made with shrimp, potatoes, milk, and spices. These dishes often incorporate local fish and seafood varieties and are enjoyed for their rich flavors. Furthermore, Grilling seafood is a popular cooking method in South America, especially during social gatherings and outdoor events. Whole fish, shrimp, squid, and other seafood are often marinated, seasoned, and grilled over an open flame or on a barbecue. Grilled seafood is enjoyed for its smoky flavors and is often served with fresh herbs, chimichurri sauce, or a squeeze of citrus juice.

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Manmayi Raval

Research Consultant

The sales channel of the market includes Supermarket /modern retail / hypermarket, Independent Retailers / Departmental /convenience store, On-line Shop. The Supermarket /modern retail / hypermarket are significantly dominating the market of South America. On the other hand On-line Shop is expected to grow positively during the anticipated time period. South America has witnessed a significant increase in internet penetration, with more people gaining access to the internet and using online platforms for shopping. As more consumers become comfortable with online shopping, they are also more likely to explore the option of purchasing frozen fish and seafood products online. Online shopping offers convenience and accessibility to consumers, allowing them to browse and purchase products from the comfort of their homes. This convenience factor is particularly appealing for frozen fish and seafood products, as consumers can access a wide variety of options without having to visit physical stores or fish markets. They can easily compare prices, read product descriptions, and choose from a range of products available online. Online shops often prioritize quality assurance and product traceability. They may collaborate with certified suppliers and implement rigorous quality control measures to ensure that the frozen fish and seafood products they offer meet the required standards. This focus on quality and traceability provides consumers with the assurance that they are purchasing safe and high-quality products. Considered in this report • Geography: South America • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • South America Frozen Fish and Seafood market with its value and forecast along with its segments • Country-wise Frozen Fish and Seafood market analysis • On-going trends and developments • Top profiled companies • Strategic recommendation

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Countries Covered in the report: • Brazil • Argentina • Chile • Colombia By Product Type: • Shrimp • Salmon • Tuna • Tilapia • Pangasius • Catfish • Others By End User: • Residential • Commercial By Sales Channel: • Supermarket /modern retail/ hypermarket • Independent Retailers / Departmental /convenience store • On-line Shop The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Frozen Fish and Seafood industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.