The surimi market, valued at USD 6.34 billion in 2023, is expected to reach USD 6.58 billion in 2024 and USD 10.64 billion by 2032, registering a CAGR of 5.90% during the forecast period 2024–2032. Asia Pacific accounted for the largest regional share in 2022. Prominent companies include American Seafoods Group, Apitoon Group, Aquamar, Gadre Marine, Glacier Fish Company, Ocean Food Company, OceanFood Sales, Pacific Seafood Group, Russian Fishery Company, Seaprimexco Vietnam, Thong Siek Global, Trident Seafoods, and Viciunai Group.

Chilled or Fresh Surimi Holds the Packaging Lead

By packaging, the market is divided into chilled or fresh and frozen formats. Chilled or fresh surimi held the largest share in 2022, as it is processed and packaged immediately after the fish is caught, which helps the product retain its quality and freshness. It is convenient for consumers seeking a quick and easy source of protein and can be eaten as is or used as an ingredient in a variety of dishes. The report also describes it as a healthier option than other processed meats, being low in fat, calories, and carbohydrates and high in protein, which makes it well suited to people who want to maintain a healthy diet.

Frozen Surimi and Regional Production Activity

Frozen surimi remains the second packaging format tracked within the surimi market. According to the National Surimi Association, nearly 967 tonnes of frozen surimi were produced in Hokkaido in December 2022, illustrating the scale of production in Asia Pacific, the region that is the world’s largest consumer of surimi. Growing awareness of the product is a prime factor driving regional growth. India saw its first surimi beneficiation project, introduced by Keshav B. Koli, CMD of SMSSL, under the company’s Nakhwa brand.

Browse Full Insights:

https://www.polarismarketresearch.com/industry-analysis/surimi-market

Supermarkets and Hypermarkets Dominate Distribution

The report segments distribution into direct sales, retail sales, supermarkets and hypermarkets, online retail, wet markets, and others. In 2022, supermarkets and hypermarkets held the largest global share in terms of both volume and value, owing to convenience, a large product selection, and other benefits. Consumers are drawn to these outlets by promotional activities such as sales and discounts, which raise awareness of and demand for surimi. They also offer a wide range of brands, flavors, and packaging options, reinforcing their position in the surimi market.

Crab Sticks and Recyclable Packaging Developments

Recent developments highlight product transparency and sustainability. In October 2024, Nihon Surimi Co. disclosed the composition of its crab sticks, highlighting the use of Alaska pollock and compliance with international food safety standards. In December 2022, Mondi supplied Angulas Aguinaga with supplementary recyclable packaging made of paper for its Krissia brand chilled surimi sticks, aiming to decrease plastic use and increase recyclability. Such initiatives show how producers are responding to consumer expectations while competing for share across retail channels.

Online Retail, Direct Sales, and Wet Markets

Beyond supermarkets, the channel mix includes direct sales, retail sales, online retail, and wet markets, each analyzed by region over 2019–2032 in the Polaris Market Research report. The study also examines COVID-19 effects on distribution, noting that restaurant and food service closures cut demand through those channels. Value chain, PESTEL, and Porter’s Five Forces analyses accompany the segmentation, rating rivalry among existing firms as high, the bargaining power of suppliers and buyers and the threat of substitutes as moderate, and the threat of new entrants as low.

Market Outlook and Challenges

Usage in salads and assorted snacks is cited among the market’s drivers, while increased prices of raw materials and end products are identified as a restraint. The COVID-19 pandemic produced a mixed impact, with greater demand for shelf-stable foods offset by restaurant closures that reduced food service demand. Looking ahead, the surimi market is forecast to reach USD 10.64 billion by 2032. Asia Pacific remains the largest consumer of surimi, supported by abundant raw material supplies, while North America holds a significant share on the back of technological advancements.

More Trending Latest Reports By Polaris Market Research:

Gynecological Examination Chairs Market

Fluoropolymers Market

Safari Tourism Market

Enterprise Content Management Market

Automotive Ceramics Market

Mass Flow Controller Market

Hemophilia A Treatment Market

AI Trust, Risk and Security Management Market