The global surimi by-product market is estimated to be worth US$ 1,200.0 million by 2023 and is projected to reach a value of US$ 2,478.0 million by 2033 reflecting a CAGR of 7.5% over the assessment period 2023-2033
As per Fact.MR, the Japan stock cubes market is expected to reach a valuation of around US$ 302.32 million by 2033. It will therefore hold a prominent value share of 12.2% in the East Asia market. Surimi by-products provide a sustainable solution to utilize fish processing waste. The environmental impact can be reduced by recycling the surimi by-products and it can also promote a circular economy approach. Japanese surimi by-products are known for their quality and nutritional value.
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Surimi, a widely used seafood product, is created by washing, refining, and blending fish meat into a paste-like substance. While surimi itself is highly prized for its versatility in various culinary applications, the surimi by-product market often remains overlooked. However, these by-products, which include fish frames, heads, and viscera, have untapped potential in several industries.
Key Trends Listed by Fact.MR:
- Increasing awareness among consumers regarding the health and nutritional benefits associated with surimi by-products
- Increasing focus on utilizing seafood by-products to reduce waste
- Growing consumer preference for healthy and natural pet food ingredients
- Emergence of new surimi by-product extraction technologies
- Rising demand for surimi by-products in the pharmaceutical industry
- Adoption of surimi by-products as an alternative protein source in human diets
- Growing demand for surimi by-products in the Asian cuisine market
- Expansion of online and e-commerce platforms facilitating the direct-to-consumer sale of Surimi by-products
- Expansion of surimi by-products food trucks and mobile catering services
Key Drivers of the Surimi By-product Market:
Several factors are driving the growth of the surimi by-product market:
- Sustainability: As the seafood industry faces concerns related to overfishing and resource depletion, utilizing surimi by-products aligns with sustainability goals by reducing waste and maximizing the use of harvested fish.
- Nutritional Value: Surimi by-products are rich in nutrients such as calcium, collagen, omega-3 fatty acids, and minerals, making them appealing for various industries.
- Cost Efficiency: Utilizing by-products can reduce the overall cost of surimi production, making it economically attractive for seafood processors.
Competitive landscape:
Leading surimi by-products manufacturers are constantly launching a new range of products to meet consumer demand. They are also using strategies such as mergers & acquisitions, partnerships, distribution agreements, collaborations, advertisements, and celebrity endorsements to gain a competitive edge in the market.
For instance :
- Nissui’s invention of egg-free surimi was driven by customer demand for a vegetarian and allergen-free alternative
Surimi By-product Market by Category:
- By Source :
- Fish Surimi
- Meat Surimi
- By End Use :
- Food Industry
- Pharmaceutical Industry
- Animal Feed
- Pet Food
- Food Service
- Retail
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Challenges and Opportunities:
The surimi by-product market is poised for growth, but it also faces certain challenges:
- Market Awareness: Limited awareness about the potential value of surimi by-products hampers their widespread adoption.
- Regulatory Compliance: Compliance with food safety and quality regulations is essential for ensuring the safety of products derived from surimi by-products.
- Supply Chain Complexity: Developing efficient supply chains for the collection and processing of surimi by-products can be challenging.
Questionnaire answered in the Market outlook Report of Surimi By-product include:
- What is the key strategy deployed by large players to maximize Surimi By-product Market growth?
- What are the main challenges faced by players in the Surimi By-product market Demand?
- With the advent of technological advancement, how will the Surimi By-product market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Surimi By-product market size?
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