Valued at USD 6.34 billion in 2023, the surimi market is projected to reach USD 6.58 billion in 2024 and USD 10.64 billion by 2032, growing at a CAGR of 5.90% during the forecast period 2024–2032. Escalating popularity of surimi across countries, driven by its low cost, versatility, and lower fat and calorie content than other processed meats, underpins the outlook. Key players profiled by Polaris Market Research 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.

Seafood Consumption Supports the Surimi Market

Rising seafood consumption is described as one of the primary factors bolstering the surimi market. According to the UN Food and Agriculture Organization, fish and other marine animals are crucial for nutrition and food security worldwide. Portugal, South Korea, and Japan are cited as fish enthusiasts, whereas landlocked nations such as Afghanistan, Ethiopia, and Tajikistan record annual per capita intake of less than one kilogram. Increasing demand for fish-based food is intensifying growth, and many countries are opting for surimi because of its health benefits. In February 2022, Russia indicated plans to expand its fish processing industry by increasing surimi production to compete with the United States in the worldwide market.

Alaska Pollock Leads the Source Segment

The report segments the surimi market by source into Alaska pollock, Pacific whiting, silver carp, and others. Alaska pollock held the largest share in 2022, as it is a healthy and sustainable source of protein, supports local economies, and serves as a versatile ingredient across many cuisines. It is a major commercial fishery in the United States and an important source of revenue for fishing communities, with the surimi industry providing jobs across fishing, processing, and distribution. In December 2021, Aquamar, described as one of the top surimi producers in North America, launched a brand makeover to highlight the benefits of wild-caught Alaska pollock. Pacific whiting and silver carp complete the named source categories alongside other species.

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Competitive Strategies Shaping the Surimi Market

Enhanced market strategies by participating companies are another major support for growth. Businesses are focusing on expanding their revenue streams to tap a large global consumer base, and many are investing in research and development. The competitive landscape features seafood processors such as American Seafoods Group, Glacier Fish Company, Pacific Seafood Group, and Trident Seafoods. The COVID-19 pandemic had a mixed impact: consumer demand shifted toward shelf-stable, long-lasting foods such as surimi, but the closure of restaurants reduced demand through food service channels, and supply disruptions led manufacturers to make cautious, cost-cutting decisions.

Regional Perspective

Asia Pacific accounted for the largest share in 2022, as the region is the largest consumer of surimi and has abundant supplies of raw materials, including Alaska pollock, the most commonly used fish for surimi production. North America holds a significant share, supported by technological advancements in the region and by the Association of Genuine Alaska Pollock Producers (GAPP) annual meeting in October 2022, which unveiled fifteen new partners from three nations across retail, convenience, out-of-home, and new product innovation channels.

Segmentation and Regional Scope of the Surimi Market

The surimi market is segmented by source, packaging, distribution channel, and region, giving stakeholders a structured view of demand. Regional coverage spans North America (the US and Canada), Europe (France, Germany, the UK, Italy, the Netherlands, Spain, and Russia), Asia Pacific (Japan, China, India, Malaysia, Indonesia, and South Korea), Latin America (Brazil, Mexico, and Argentina), and the Middle East and Africa (Saudi Arabia, the UAE, Israel, and South Africa). Historical data covers 2019 to 2022, and the forecast period runs from 2024 to 2032, with revenue reported in USD billion.

Conclusion

Supported by a forecast rise from USD 6.34 billion in 2023 to USD 10.64 billion by 2032, the surimi market gives processors and distributors a clear case to align sourcing, branding, and partnerships with growing demand for fish-based protein.

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