Cibi e Bevande
Processed Fish Market to Accrue $87.2 Bn, Globally, by 2031 at 2.8% CAGR: Allied Market Research
Rapid growth of fast-food chains as well as restaurant chains business has resulted in large-scale consumption of processed fish globally, thereby driving the global processed fish market trends. Apart from this, huge discounts on sea-foods and cost-effective meal packages have contributed notably towards the growth in size of processed fish industry across the globe. Furthermore, hectic lifestyle has led to massive demand for ready-to-cook, frozen, and ready-to-eat meals, thereby creating new growth opportunities for the global industry. However, growing end-user awareness about health and nutritious diet and carcinogenic features of processed food can hinder the expansion of the global market.
Based on the fish type, the aquaculture segment is set to contribute to the highest market share in 2021, accounting for more than half of the global processed fish market share. Furthermore, the segment is projected to contribute majorly toward the global market share during the forecast period. In addition, this same segment will record the fastest CAGR of 3.5% from 2022 to 2031. The growth of the segment over the forecast timeframe can be attributed to escalating demand for fresh fish meat consumption among consumers in emerging economies. Apart from this, humungous demand for cod, tuna, mackerel, and salmon among consumers and huge penetration of reputed food processing firms in emerging and developed nations will pave a way for the segmental growth over forecasting years. The report also includes other segments such as Capture segment.
On basis of product, the frozen segment contributed to the highest market share in 2021, accounting for more than three-fifths of the global processed fish market share. Furthermore, the same segment is anticipated to dominate the market growth over the forecast period. The growth of the segment over the assessment period is subject to huge demand for frozen fish across the commercial and residential sectors globally. However, the cured segment is predicted to record the highest CAGR of 3.2% over the forecast period. The growth of the segment over the forecast timeline can be attributed to massive nutritive value of the cured fish along with presence of iodine, omega-3 fatty acids, antioxidants, and high protein contents. Moreover, cured fish consists of large amount of proteins and possess low calories.
In terms of application, the commercial segment contributed to the highest market share in 2021, accounting for nearly 90% of the global processed fish market share. Moreover, the same segment is set to make notable contributions toward the global market share in 2031. The growth of the segment over the forecast timeline can be credited to increased penetration of the food processing and food service industry in developed and developing countries around the globe. However, the residential segment is predicted to register the fastest CAGR of 3.5% during the forecast timeline. The segmental growth over the forecast timeframe can be attributed to rising penetration of modern trade distribution channels and easy availability of packaged processed fish along with rise in intake of seafood and convenience food items.
By Region, North America contributed notably toward the global processed fish market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for nearly two-fifths of the global processed fish market share in 2021. The regional market growth over the projected timespan is owing to increased penetration of fast-food chains, cafes, and hotels in the sub-continent. Nonetheless, the Asia-Pacific processed fish market is set to record the highest CAGR of 4.0% during 2022-2031. The growth of the market in the region over the forecast timespan can be credited to a surge in disposable income, an increase in the trend of dining out, and a rise in the number of fast-food restaurants that serve processed fish.
The report analyzes these key players in the global processed fish market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of " " and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
+1-800-792-5285, +1-503-894-6022
+44-845-528-1300
+852-301-84916
+91-20-66346060
+1(855)550-5975
help@alliedmarketresearch.com
https://www.alliedmarketresearch.com/reports-store/life-sciences
https://www.globalhealthcareindustry.com/
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/processed-fish-market-to-accrue-87-2-bn-globally-by-2031-at-2-8-cagr-allied-market-research-301644510.html