Wild Pollock Market to Reach Valuation of US$ 12 Bn by 2029

Globally, wild pollock is amongst the top ten, most consumed fish, and it has continued to witness a healthy demand from consumers as a high-protein, low-cholesterol fish variant. Wild pollock has gained significant traction among consumers as an affordable alternative to cod fish.

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Brimming with potential, the wild pollock market is projected to grow at a CAGR of 6% as revealed by Fact.MR. This growth is backed by rigorous initiatives by GAPP (Genuine Alaska Pollock Producers) organization for marketing wild pollock thus increasing its market share in the global cod fish market. Within the supply chain, tier-1 players have also ventured into the production of several ready-to-eat products containing wild pollock as an ingredient.

Key Takeaways from the Wild Pollock Market

• Together North America and Europe have grabbed more than 2/3rd of the market share and consumption in these regions is growing at a higher pace as compared to other regions.
• Vertical integration is the key strategy of manufacturers for gaining more control over supply chain and reducing production costs

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• Over the last three years, the government in Russia has pioneered investments in fleet renewal and has also allocated a fishing quota for new vessels, thereby increasing the wild pollock supply capacity of Russian companies
• Russia is supplying wild pollock to a majority of European countries at a significantly low cost, thereby offering strong competition to North American suppliers
• Leading wild pollock harvesting companies are focused on increasing their harvesting quota and controlling primary processing as part of the value chain at a relatively low cost
• Mergers and acquisitions have been observed in the recent past among European companies, especially for increasing business and vessel fleet renewal

Wild Pollock Market: Key Segmentation

Fact.MR has studied the wild pollock market with detailed segmentation on the basis of species, form, end-use industry, distribution channel, and key regions.

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Species
• Alaska Pollock
• Atlantic Pollock

Form
• Fresh
• Whole
• Fillet
• Frozen
• Whole
• Fillet
• Canned

Europe to Witness Two Fold Growth as Russian Companies Introduce Innovative Variants

Europe is leading the wild pollock market in terms of demand and production. Wild pollock demand in Europe is projected to grow 2X over the forecast period. Russian players are investing in building shore-side processing plants for converting whole fish to other variants such as fillets, surimi, and minced fish. This will help to fulfill the increasing demand from China.

Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/07/05/1878871/0/en/Rainbow-Trout-Farmers-Accelerating-the-Shift-towards-Digital-Health-Monitoring-in-Line-with-Stringent-Seafood-Safety-Regulations-Finds-Fact-MR.html

North American manufacturers are conducting consumer surveys with GAPP for understanding target consumers and preference for wild pollock. The wild pollock market in Latin America is in its growth phase and is anticipated to create lucrative opportunities for manufacturers. Being both a production and a consumption cluster, East Asia is expected to witness moderate growth over the forecast period, where countries including Vietnam and Thailand largely influence demand.

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This release was published on openPR.