According to a recently revised Fact.MR report, sales of surimi are expected to reach a value of US$ 5.8 Bn in 2031, rising at a CAGR of around 6.1%.
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Surimi is manufactured from freshly ground-fish, usually Alaskan Pollock. However, as global fishery resources are declining, there is increasing emphasis on utilizing low-value by-catch fishery species in the production of surimi. Future developments in the imitation crab meat industry are likely to be found in a few key areas. One important area of research has focused on the development of surimi from different kinds of fish. Also, environmental concerns will lead to new technologies that will minimize the amount of waste involved in manufacturing.
The MFRD (Marine Fisheries Research Department) is promoting quality of surimi for domestic consumption as well as export through continuous research and development in the field. The MFRD is supported by funding from the Japanese Trust Fund (JTF).
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Moreover, through improved product development and advances in technological approaches, MFRD has continued to promote greater use of fisheries by-catch and low-value species through training and extension activities, and is providing technical assistance to the market in South East Asia. Primary goals include analyzing the status of demersal fishery resources as surimi raw materials in the region, empowering member countries, as well as future exploration plans of the surimi industry in the region.
Key Takeaways from Market Study
- The U.S. is estimated to account for more than 91% of the North American market in 2021, supported by increased production of Alaska Pollock-sourced surimi.
- According to Fact.MR analysis, China is estimated to account for more than 59% of the East Asian market share in 2021, driven by increased demand from the foodservice industry.
- Spain is one of the prominent countries in the European market with a share of 18.4% in 2021, on the back of increased imports of surimi base.
- Fish surimi is estimated to account for 86.9% market share in 2021, on the back of its nutritional properties and high-quality protein content.
- Fresh surimi reflects approximately 57.8% of the market in 2021, but processed surimi is expected to witness a lucrative growth rate at 7.8% CAGR through 2031.
“Key players operating in the global market are investing in research & development facilities for new product developments. Manufacturers are focusing on sustainable farming of surimi,” says a lead analyst at Fact.MR.
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Key Segments Covered in Surimi Industry Survey
- By Species
- Fish Surimi
- Alaskan Pollock
- Atlantic Cod
- Black Bass
- Meat Surimi
- Pork Surimi
- Beef Surimi
- Fish Surimi
- By Form
- Fresh Surimi
- Processed Surimi
- Fresh Surimi
- By Sales Channel
- Direct Sales of Surimi
- Indirect Sales of Surimi
- Modern Trade
- Convenience Stores
- Specialty Food Stores
- Wholesale Stores
- Discount Stores
- Online Retail
- Other Retail Formats
- By Application
- Food Industry
- Pharmaceutical Industry
- Animal Feed
- Pet Food
- Food Service
Key Country-wise Inclusions
- US Surimi Market
• Canada Surimi Market Sale
• Germany Surimi Market Production
• UK Surimi Market Industry
• France Surimi Market
• Spain Surimi Market Supply-Demand
• Italy Surimi Market Outlook
• Russia & CIS Market Analysis
• China Surimi Market Intelligence
• India Surimi Market Demand Assessment
• Japan Surimi Market Supply Assessment
• ASEAN Surimi Market Scenario
• Brazil Surimi Market Sales Analysis
• Mexico Surimi Market Sales Intelligence
Report Benefits & Key Questions Answered
- Surimi Market Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Surimi Market Historical volume analysis: The report provides a comparison of Surimi Market historical sales and projected sales performance for 2021-2031.
- Surimi Market Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Surimi Market It carefully gauges the impact of changing healthcare needs of key demographics globally
- Surimi Market Consumption by demographics: The report investigates consumer behavior affecting Surimi Market demand outlook for the assessment period. Effect of their keenness for digital trends on Surimi Market is carefully analyzed
- Post COVID consumer spending on Surimi Market Consumption: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Surimi Market growth
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