Processed Fish Market Share, Trends, Regional Forecast to 2031
The Processed Fish Market size was valued at $66.9 billion in 2021, and is estimated to reach $87.2 billion by 2031, growing at a CAGR of 2.8% from 2022 to 2031.The processed fish market is gaining momentum in the global markets due to the growing preference for convenience foods among the population. Rising disposable income, consumers changing lifestyle, and rapid growth in the urban population are expected to foster the global market growth during the forecast period.
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𝐌𝐚𝐣𝐨𝐫 𝐊𝐞𝐲 Players In This Market
The key players operating in the processed fish industry include, Beach Cliff, Brunswick, Channel Fish Processing, Clover Leaf, Gadre Premium Seafood, Golden Prize Canning Co., Ltd., Goya Foods, Inc., MOWI, Oceans Secret, Perdue Farms, Safcol, Safe Catch, True North Seafood Company, Wild Planet Foods, and Young's Seafood.
𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:
Region-wise, North America dominated the market in 2021. North America is the leading consumer of processed fish products, such as canned, frozen, and chilled fishes. The increased consumer awareness regarding the health benefits of seafood, growing demand for organic fish products, huge presence of restaurants and cafes, increased penetration of packaged food and top food processing companies, and increased demand for the convenience food products are the prominent factors that are expected to boost the growth of the North America processed fish market during the forecast period.
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Increase in the adoption of smartphones and internet, and growth in the penetration of online food delivery and grocery platforms are expected to boost the sales of processed meat, especially in emerging markets, such as India, China, Brazil, and Indonesia. The various food delivery apps, such as Zomato, Swiggy, and Uber Eats, and online grocery apps like Big Basket and Grofers drive the sales of the processed meat during the forecast period.
Key findings of the study
The global processed fish market size was valued at $66,879.9 million in 2021, and is estimated to reach $87,172.2 million by 2031, registering a CAGR of 2.8% from 2022 to 2031.
By fish type, the aquaculture segment is estimated to witness the fastest growth, registering a CAGR of 3.5% during the forecast period.
In 2021, depending on product, the frozen segment was valued at $41,023.3 million, accounting for 61.3% of the global processed fish market share.
In 2021, the U.S. was the most prominent market in North America, and is projected to reach $20,451.8 million by 2031, growing at a CAGR of 2.1% during the forecast period
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