The global Surimi By-product Market (Marché des sous-produits du surimi) is currently valued at US$ 1,200.0 million in 2023 and is projected to grow significantly, reaching a market valuation of US$ 2,478.0 million by 2033. This growth reflects a compound annual growth rate (CAGR) of 7.5% over the forecast period. The rising global demand for versatile and nutrient-dense seafood components is driving the expansion of the surimi by-product industry. During the forecast period, demand for surimi by-products will also be driven by the increasing acceptance of sustainable sourcing. The market is anticipated to grow over the next ten years because of creative promotional strategies used by major surimi by-product manufacturers.

Different innovative strategies such as product diversification, where manufacturers develop a wide range of surimi-based products to cater to different consumer preferences. This includes ready-to-eat surimi snacks, surimi-based seafood spreads, and surimi-based seafood alternatives. By offering diverse product options, manufacturers can target a broader consumer base and tap into new market segments.

Emphasizing the sustainability and eco-friendliness of surimi by-products which involves highlighting the responsible sourcing of surimi from sustainable fisheries and promoting the use of by-products to reduce waste and environmental impact. Manufacturers use eco-friendly packaging materials or promote recycling initiatives to align with consumers' growing focus on sustainability.

Collaborations with chefs and influencers that involve partnering with renowned chefs and food influencers, manufacturers can create buzz around surimi by-products, showcase their versatility in gourmet recipes, and reach a wider audience through cooking shows, recipe collaborations, and social media campaigns.

List of Key Companies Profiled in The Report

• Aquamar Inc.
• Trident Seafoods
• Pacific Seafood Group
• SeaPak
• Glacier Fish Company
• Boston Salads & Prepared Foods
• Arctic Storm Management Group
• OceanFood Sales Ltd.
• Others

Key Takeaways from the Surimi By-products Report

The global surimi by-products market (Mercato dei sottoprodotti del surimi) is projected to reach a valuation of $2,478.0 million by 2033, driven by a robust compound annual growth rate (CAGR) of 7.5% over the forecast period. This growth is largely fueled by the increasing global demand for versatile and nutrient-dense seafood components. Within this market, the fish surimi by-products segment is particularly noteworthy, anticipated to achieve a valuation of US$ 1,660.26 million by 2033. This segment's prominence underscores the broader trend towards utilizing fish by-products in various applications, highlighting their economic and nutritional value.

In terms of end-use applications, the feed industry is expected to be a significant driver of market growth. The feed industry surimi by-products segment is projected to exhibit a robust CAGR of 8.4% during the forecast period, reflecting the growing incorporation of nutrient-rich surimi by-products in animal feed formulations. Regionally, the United States surimi by-products market is anticipated to reach a valuation of US$ 651.71 million by 2033, indicative of strong demand in North America. Meanwhile, the Indian market is expected to grow at a CAGR of 5.2%, reflecting increasing recognition of the benefits of surimi by-products in emerging markets. These regional insights highlight the global nature of market expansion and the varied applications driving demand across different geographies.

Demand for Fish Surimi as a source Remain High in the Market

During the evaluation period, the market is expected to maintain a strong demand for surimi sourced from fish. According to Fact.MR, the surimi derived from fish, holding approximately 67% of the market share, is anticipated to achieve a valuation of US$ 1,660.26 million by 2033.

Fish surimi stands as a crucial source for producing surimi by-products. Its production involves processing the flesh of white-fleshed fish into a paste-like consistency, resulting in a versatile ingredient known for its high protein content. Renowned for its mild flavor and excellent gel-forming properties, surimi serves as a fundamental element in various surimi-based food products.

The adaptability and cost-effectiveness of surimi have led to its extensive utilization in crafting seafood products such as crab sticks, fish cakes, fish balls, and more. This appeal has propelled its popularity within the global market, establishing it as a favored choice for both manufacturers and consumers.

Competitive Landscape

In the dynamic surimi by-product market, key manufacturers are consistently introducing innovative product ranges to cater to evolving consumer demands. Employing a spectrum of strategies such as mergers, acquisitions, partnerships, distribution agreements, collaborations, advertisements, and celebrity endorsements, these industry leaders strive to maintain a competitive edge.

Example:

Nissui, a prominent player in the market, responded to consumer demand for a vegetarian and allergen-free alternative by introducing an egg-free surimi. This inventive solution showcases the industry's commitment to meeting diverse consumer needs through creative product development.