Press release
Herring Market Size to Grow at a CAGR of 3% in the Forecast Period of 2024-2032
Herring, a small-sized fish predominantly found in the North Atlantic and North Pacific oceans, is a vital component of various global cuisines. Being a rich source of omega-3 fatty acids, vitamins D3 and B12, protein, and other essential minerals, herring offers myriad health benefits, including the promotion of heart health, reduced inflammation, and enhanced brain functionality. In addition to its health advantages, herring boasts a unique flavour profile, making it a preferred choice for various dishes, smoked products, and pickled preparations.
A major factor driving the herring market growth is the escalating consumer inclination towards foods enriched with omega-3 fatty acids. As awareness regarding the health implications of omega-3 fatty acids like combating depression, improving eye health, and reducing risk factors for heart disease spreads, there is a marked shift towards herring consumption. This transition is bolstered by the increasing health consciousness among global consumers and a burgeoning demand for nutritional food products.
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As per the herring market analysis, beyond its direct consumption, herring finds substantial utility in various food industries. It serves as a foundational element in several dishes, including sushi, salads, sandwiches, and traditional dishes in many European countries. Furthermore, herring oil and meal are considered valuable components in the animal feed industry, particularly in aquaculture, to enhance the nutritional profile of feed.
Another critical factor propelling the herring market demand is the growth of sustainable fishing practices. With the mounting concerns about overfishing and its impact on marine ecosystems, there's an amplified emphasis on sustainable herring fisheries. Certifications from bodies like the Marine Stewardship Council (MSC) assure consumers of sustainable fishing practices, subsequently fuelling the demand for certified herring products.
The North American region, particularly the US and Canada, has seen an upsurge in herring consumption. The primary drivers here include rising health consciousness, the popularity of seafood diets, and a substantial Scandinavian diaspora that brings its culinary traditions, like pickled herring, which further contribute value to the herring market size.
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Market Segmentation
The market can be divided based on type and region.
Market Breakup by Type
• Atlantic Herring
• Pacific Herring
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global herring market. Some of the major players explored in the report by Expert Market Research are as follows:
• Barry Group Inc.
• Cornelis Vrolijk B.V.
• Iceland Seafood International hf
• Nergard AS
• Others
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