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Fin Fish Market Growth Analysis, Trends, Demand and Companies | To Garner $238.5 Billion by 2025
Fin Fish Market
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The growth of the global fin fish market is driven by the surge in fish production to meet food supply, rise in global protein demand from livestock and fisheries, and rapid technological advancement in the field of fin fish. However, rise in water temperature and pollution significantly hinders market growth. Nonetheless, the evolution in inland fishing and the adoption of sustainable technology would provide lucrative opportunities to emerging market players in the near future.
Leading Key Companies
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.
Regional Outlook:
Asia-Pacific to dominate the global market in the near future
Asia-Pacific is projected to occupy more than two-thirds of the global market shares by 2025. The region is also anticipated to grow at the highest CAGR of 4.6% during the forecast period, due to the development of efficient aquaculture technology to cater to a large fish consumption market.
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Among all the types of fish, the other segment that includes carps mackerels, sea bream, and trout generated maximum revenue in 2017. Carps, belonging to the Cyprinidae family, is a very large group of fish that is native to Asia and Europe. The hardiness and adaptability of carps has encouraged the domestication of this species globally. They are being considered as highly prized coarse fish that are difficult to hook.
Key Findings of the Study
-> 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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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. Moreover, advanced technology enhances the yield of fin fish. The global market is projected to witness significant growth during the forecast period, owing to increased health awareness among consumers about the intake of balanced nutrient quantities.
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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 domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. 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. 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.
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