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Australia Frozen Fish and Seafood Market Size, Share: By Product Type: Molluscs, Shellfish, Shrimps, Fishes, Crustaceans; By End Use: Animal Feed, Food Processing Industry, Retail/ Household, Pet Food, Food Service Provider; By Distribution Channel; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Australia Frozen Fish and Seafood Market Outlook
The Australia frozen fish and seafood market size was valued at USD 338.52 million in 2023. The market is further projected to grow at a CAGR of 3.1% between 2024 and 2032, reaching a value of USD 445.15 million by 2032.
Key Takeaways
- Australia's seafood exports amount to approximately USD 1.2 billion annually, with the total value of imports increasing by 3% to USD 2.4 billion each year. The country's seafood imports mainly consist of lower-value products like frozen fillets, frozen prawns, and canned fish.
- As per industry reports, the nominal value of Australian fisheries and aquaculture production expected to rise to USD 3.56 billion in 2024.
- Aquaculture is the country’s fastest-growing primary industry, contributing to 40% of the total gross value of seafood production.
- In terms of employment, the fishery sector provided approximately 17,000 direct jobs in 2021, with 41% of these positions being in aquaculture.
The growing consumer preference for convenience and ready-to-cook solutions is driving the demand for frozen seafood products that offer ease of preparation and storage. Additionally, advancements in freezing technologies and cold chain logistics have improved the quality and preservation of frozen fish and seafood, enhancing their appeal to consumers. Moreover, the rising awareness of the nutritional benefits of fish and seafood, increasing trade levels, along with the growing popularity of seafood-rich diets, contributes to the Australia frozen fish and seafood market development. For instance, in 2022, the total value of exports for fish and fishery products from Australia amounted to USD 1.1 billion, whereas imports were valued at USD 1.8 billion.
Other drivers aiding the Australia frozen fish and seafood market growth include the increasing consumer demand for high-quality seafood products at affordable prices, driving retailers to enhance their offerings to meet consumer standards. Consumers are placing importance on the origin and source of seafood, with a preference for products associated with freshness and quality, such as fish from Alaska. The trend towards wild-caught fish is also a significant driver, as consumers perceive wild-caught seafood as tastier, healthier, and fresher, leading to a boost in market growth.
Aquaculture production in Australia is primarily dominated by Atlantic salmon constituting 68% of share, followed by molluscs with 13% of total share. The frozen fish segment has witnessed growth due to the availability of frozen fish, such as sardines, trout, salmon, bream, and eels in various cuts and forms, including fillets and portions, provides flexibility in cooking and menu planning. The demand for frozen fishes is further influenced by their nutritional value, versatility in recipes, and the convenience of long-term storage, appealing to households, restaurants, and food processors.
Market Segmentation
Australia Frozen Fish and Seafood Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type
- Molluscs
- Shellfish
- Shrimps
- Fishes
- Crustaceans
Market Breakup by End Use
- Animal Feed
- Food Processing Industry
- Retail/ Household
- Pet Food
- Food Service Provider
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Speciality Stores
- Online Channels
- Others
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
Competitive Landscape
Players are concentrating on providing high-quality seafood at competitive prices, emphasising the origin and source of the seafood to meet consumer preferences for freshness and quality.
- KB Seafood Company
- A. Raptis and Sons Pty Ltd.
- WestState Seafoods
- Oceanic Foods
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by End Use |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Australia Frozen Fish and Seafood Market Overview
8.1 Key Industry Highlights
8.2 Australia Frozen Fish and Seafood Historical Market (2018-2023)
8.3 Australia Frozen Fish and Seafood Market Forecast (2024-2032)
9 Australia Frozen Fish and Seafood Market by Product Type
9.1 Molluscs
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Shellfish
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Shrimps
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Fishes
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.5 Crustaceans
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
10 Australia Frozen Fish and Seafood Market by End Use
10.1 Animal Feed
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Food Processing Industry
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Retail/ Household
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Pet Food
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Food Service Provider
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
11 Australia Frozen Fish and Seafood Market by Distribution Channel
11.1 Supermarkets and Hypermarkets
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Speciality Stores
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Online Channels
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 Australia Frozen Fish and Seafood Market by Region
12.1 New South Wales
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Victoria
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Queensland
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Australian Capital Territory
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Western Australia
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Value Chain Analysis
15 Trade Data Analysis (HS Code - 030489)
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 KB Seafood Company
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 A. Raptis and Sons Pty Ltd.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 WestState Seafoods
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Oceanic Foods
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Australia Frozen Fish and Seafood Market: Key Industry Highlights, 2018 and 2032
2. Australia Frozen Fish and Seafood Historical Market: Breakup by Product Type (USD Million), 2018-2023
3. Australia Frozen Fish and Seafood Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4. Australia Frozen Fish and Seafood Historical Market: Breakup by End Use (USD Million), 2018-2023
5. Australia Frozen Fish and Seafood Market Forecast: Breakup by End Use (USD Million), 2024-2032
6. Australia Frozen Fish and Seafood Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
7. Australia Frozen Fish and Seafood Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
8. Australia Frozen Fish and Seafood Historical Market: Breakup by Region (USD Million), 2018-2023
9. Australia Frozen Fish and Seafood Market Forecast: Breakup by Region (USD Million), 2024-2032
10. Major Importing Countries by Volume
11. Major Exporting Countries by Volume
12. Major Importing Countries by Value
13. Major Exporting Countries by Value
14. Australia Frozen Fish and Seafood Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 338.52 million.
The market is expected to grow at a CAGR of 3.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 445.15 million by 2032.
The market is being driven due to the growing consumer preference for convenience and ready-to-cook solutions, shift towards sustainability and responsible sourcing of fishes, and availability of a wide range of seafood options.
Key trends aiding the market expansion include the increasing consumer demand for high-quality seafood products at affordable prices, trend towards wild-caught fish, and focus on healthy food offerings by food companies.
Regions considered in the market are New South Wales, Victoria, Queensland, Western Australia, and Australian Capital Territory, among others.
Based on end use, the market segmentations include animal feed, food processing industry, retail/ household, pet food, and food service provider.
Molluscs, shellfish, shrimps, fishes, and crustaceans are considered in the report.
Key players in the market are KB Seafood Company, A. Raptis and Sons Pty Ltd., WestState Seafoods, and Oceanic Foods, among others.
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