Project Report For Frozen Fish
Project report for Frozen Fish is as follows.
Frozen fish is stored or preserved at a freezing temperature to extend shelf life by restricting microbial development. Frozen Fish is in high demand in areas remote from sources of water. The global market is expected to grow as a result of ongoing growth and innovation in cold chain transportation.
Furthermore, there is a growth in demand for frozen seafood as a thickening agent since frozen condition, clarity and flavour, and PH, all of which impact the choice of thickeners, are all given in a balanced manner by frozen fish. As a consequence, demand from various end-users has supported global market growth, and market revenue contribution is predicted to increase considerably during the forecast period.
Total frozen fish sales over worldwide is expected to reach US$ 27.2 billion in 2021, in which North America accounts for about 34% of worldwide sales. The region’s Year -On -Year growth for the product was roughly 2.8 percent in 2020, and this is predicted to climb at a CAGR of 3.2 percent in the following years.
Consumers in India are seeking multi-component items that are easily available on the market while also accommodating their fast-paced lifestyle. As there is a greater demand for nutrient-rich health food, there is a greater need for the production of food with better components.
Market potential & Strategy
Fact’s most recent industry study on frozen fish. As per MR, the worldwide market is presently valued at US$ 27.2 billion and is predicted to increase at a CAGR of 5% to reach a worth of US$ 43.3 billion by 2031.
The worldwide frozen fish industry is expanding rapidly and is likely to expand even further in the coming years as consumer demand for traditional foods increases. It might seem fair to believe that fresh fish is always preferable to frozen fish, however, this may not always be the case. Many of the fish in the freezer sector are superior to those offered as fresh fish in the neighbouring local market due to modern freezing systems.
It’s because many fish are now flash-frozen on the boat, only a few minutes after being caught, in flash-freezing equipment that hold temperatures much below the average home freezer.
Additionally, farm-raised fish are frozen on the spot, as freezers are integrated within the farm. Because more than half of the fish and marine food consumed is imported, much of it is frozen until it reaches the local fish market or grocery store. Many “fresh” fish is certainly frozen beforehand, and while trustworthy fishmongers typically reveal this, not all fish stores do.