Rise in awareness about healthy diet fuel the growth of Fin Fish industry
The global Fin Fish Market size was valued at $164,836 million in 2017, and is expected to reach $238,520 million by 2025, growing at a CAGR of 4.5% from 2018 to 2025. The others segment consist of carps, mackerels, sea bream, and trout is expected to retain its dominant position, in terms of revenue generation, throughout the forecast period. Currently, fin fish is an absolute necessity to meet the food demand and supply. This industry provides high-quality and disease-free fish by rearing fish in an environment that meets the hygiene standards. Fin fish activity is also utilized by industries to conserve the species on the verge of extinction.
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Key Players Included
Major players in the industry have adopted strategies such as acquisition, partnership & agreement, merger, and geographical expansion, to expand their market share and increase profitability. The key player in the market include Cermaq Group AS (Mitsubishi Corporation), Cooke Fin fish Inc., Grupo Farallon Fin fish, Leroy Sea Food Group, Marine Harvest ASA, P/F Bakkafrost, Selonda Fin fish S.A., Stolt Sea Farm, Tassal Group Limited, and Thai Union Group Public Company Limited.
Key findings of the Fin Fish Market:
Asia-Pacific is expected to continue to lead the global market, growing at the highest CAGR of 4.68%, in terms of revenue, from 2018 to 2025.
Based on environment, the fresh water segment occupied around 60.0% of fin fish market share of the total market in 2017.
Based on fish type, the others segment that includes craps mackerels, sea bream, and trout occupied a major share of the global market in 2017, in terms of revenue followed by salmon.
China is the largest country, in terms of revenue, in the global market, and is expected to grow at a CAGR of 5.31% from 2018 to 2025.
Tilapia fish type is expected to witness significant growth of 4.62%, in terms of revenue, in the fin fish market forecast period.
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