openPR Logo
Press release

Haddock Market Size Is Expected to Reach $1.1 Bn, Globally, by 2030 at 4.8%

06-29-2022 08:53 PM CET | Health & Medicine

Press release from: Allied Market Research

Haddock Market Size Is Expected to Reach $1.1 Bn, Globally,

Allied Market Research published a report, titled, "Haddock Market by Type (Fresh, Frozen, and Smoked) and Distribution Channel (Retail Stores, Supermarkets/Hypermarkets, Food Services, Online Sales, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030″. According to the report, the global Haddock industry generated $0.6 billion in 2020, and is anticipated to generate $1.1 billion by 2030, witnessing a CAGR of 4.8% from 2021 to 2030.

Prime Determinants of Growth

Rise in fish production to meet food supply, surge in demand for nutritious diet, and technological advancements in the field of fish harvesting/aquaculture drive the growth of the global haddock market. However, adoption of veganism and volatility in the prices of haddock hinder the market growth. On the other hand, high growth potential in developing countries presents new opportunities in the coming years.

According to CXOs, increase in disposable income and dynamic changes in food habits around the world, propels consumer demand for unique cuisines. As a result, customers are more inclined toward premium food products, which propels the market growth.

Currently, Europe is the largest market and has been witnessing huge demand for haddock. One of the major reasons contributing toward growth of the haddock market is health benefits such as it prevents irregular heart beat and combats high blood pressure. Haddock is a rich source of minerals that help to build bone strength and regulate heart rate.

On the other hand, CXOs are concerned about increasing demand-supply gap, which leads to price fluctuation of haddock in the global market. However, CXOs are very optimistic about the rising demand of haddock in the food service sector, such as hotel, restaurants, and Quick service restaurant (QSR). This in turn fosters the market growth.

Request Sample Report at:-

Covid-19 Scenario

The outbreak of the COVID-19 pandemic has had a slight impact on the growth of the global haddock market, owing to reduction in orders from the food service industry.
Also, owing to the global lockdown, fish production was temporarily halted, especially in the initial period, which in turn, had hampered the haddock market growth to some extent.
However, the market is recovering at a steady pace.
The fresh segment to maintain its leadership status throughout the forecast period

Based on type, the fresh segment held the highest market share in 2020, accounting for nearly half of the global haddock market, and is estimated to maintain its leadership status throughout the forecast period. Fresh haddock provides many health benefits such as weight loss, heart health, strong bones and teeth, better mood, and energy level as well as improved memory and brain health, which is one of the growth factors in the haddock market. Moreover, the smoked segment is projected to manifest the highest CAGR of 7.0% from 2021 to 2030. Rise in demand for ready to cook & ready to eat food and popularity for the processed seafood are likely to propel the growth of the smoked haddock.

The retail stores segment to maintain its lead position during the forecast period

Based on distribution channel, the retail stores segment accounted for the largest share in 2020, contributing to one-third of the global haddock market, and is projected to maintain its lead position during the forecast period. This is because retail stores help to build customer loyalty by offering good quality haddock that makes consumers to visit again. However, the online stores segment is expected to portray the largest CAGR of 7.8% from 2021 to 2030, due to rise in adoption of mobile phones and increase in penetration of internet.

Europe, followed by Asia-Pacific & North America, to maintain its dominance by 2030

Based on region, Europe, followed by Asia-Pacific & North America, held the highest market share in terms of revenue 2020, accounting for nearly half of the global haddock market. Rise in health awareness among consumers has fueled the demand for healthy seafood, such as haddock, in the region. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 5.9% during the forecast period, owing to increasing consumer awareness in the region.

For Purchase Enquiry at: -

Leading Market Players

Channel Fish Processing
Channel Seafoods International
CTLE Seafood, Inc.
Holmes Seafood
Hottlet Frozen Foods
Marz Seafood
Ocean More Foods Co., Limited
Polar Seafood Greenland A/S
Seacore Seafood Inc.
The Fish Company.

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975

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 "Market Research Reports" 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 domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Haddock Market Size Is Expected to Reach $1.1 Bn, Globally, by 2030 at 4.8% here

News-ID: 2666925 • Views: 296

More Releases from Allied Market Research

Juniper Berry Market 2021-2030 | Florihana Distillerie, Inovia International, Bi …
Juniper berry oil is derived from the ripe fruit of the juniperus species, which include juniperus communis, juniperus phoenicea, and others. Juniper berry oil is generally employed in the food and beverage business, where it is primarily used as a flavoring in food cuisines, but it is also in high demand for pharmaceutical, cosmetics, and personal care goods due to its antibacterial and therapeutic characteristics. It is used to treat
Frozen Bakery Products Market Size, Share, Industry Growing Rapidly with Recent …
Frozen bakery products market includes bread, cakes, pastries, and donuts, which are derived from corn, rice, wheat, barley, oats, and rye. The consumption of these sources being used as the raw materials for bakery product varies across the world. These are rich in nutrition and taste, exhibit comparatively longer shelf life, and are convenient to use, which drive the demand for these products in the market. Frozen bakery products are
Biodegradable Mulch Film Market Value To Cross $62,039 Thousand By 2023 | Growth …
According to a new report published by Allied Market Research, titled, "Biodegradable Mulch Film Market by Raw Material Type and Crop Type: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global biodegradable mulch film market was valued at $33,699 thousand in 2016, and is projected to reach at $62,039 thousand by 2023, registering a CAGR of 9.3% from 2017 to 2023. Biodegradable mulch film is a mulching technique wherein waste from
Animal Nutrition Chemicals Market | Know About Brand Players: Novozymes, BASF SE …
Animal nutrition chemicals are essential feed additive products to boost the growth of animal and to maintain their health. These are widely used in feed industry to improve the quality of product and improve the results. Increase in domesticated animals and livestock population drive the growth of the animal nutrition chemical market. Moreover, rise in pet health care centers and veterinaries fuel the market growth. Further, rapid industrialization of livestock farming,

All 5 Releases