Global Processed Fish Market Expected to Reach $87.2 Billion by 2031

According to a new report published by Allied Market Research, titled, "Processed Fish Market," The processed fish market size was valued at $66.9 billion in 2021, and is estimated to reach $87.2 billion by 2031, growing at a CAGR of 2.8% from 2022 to 2031.

⋙ 𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 https://www.alliedmarketresearch.com/request-sample/17371

The processed fish market is gaining momentum in the global markets due to the growing preference for convenience foods among the population. Rising disposable income, consumers changing lifestyle, and rapid growth in the urban population are expected to foster the global market growth during the forecast period. The hectic lifestyle of working professionals, especially those whowants to spend less time in cooking are highly preferring ready-to-cook and ready-to-eat processed fishes. The ready-to-eat and ready-to-cook food helps in saving time, which is a significant driver propelling the growth of the market.

Increase in popularity of quick-service restaurants chains, hotels, fast-casual restaurants, cloud kitchens, and cafes has led to the growth of the processed fish market in North America and Europe. According to Centers for Disease Control and Prevention (CDC), around 36.6% of adults in the U.S. consume fast-food on regular basis. Hence, the fast-food chains have significantly contributed towards the growth in the consumption of processed fish in the developed markets like North America and Europe. The rapid rise and popularity of fast-food restaurant chains in Asia-Pacific and LAMEA is expected to boost the demand for processed fish in the forthcoming years and hence, provide lucrative growth opportunities to the players operating in the global market.

Increase in the adoption of smartphones and internet, and growth in the penetration of online food delivery and grocery platforms are expected to boost the sales of processed meat, especially in emerging markets, such as India, China, Brazil, and Indonesia. The various food delivery apps, such as Zomato, Swiggy, and Uber Eats, and online grocery apps like Big Basket and Grofers drive the sales of the processed meat during the forecast period.

The use of blockchain technology in the animal meat industry is a trending topic. JBS S.A., in September 2020, has announced the use of blockchain technology to achieve sustainability and conservation of Amazon rainforests in Brazil. The use of this technology improves meat quality, traceability, transparency, and sustainability along the value chain. Therefore, blockchain technology is expected to improve efficiency in animal and aquaculture farming, hence contributing to the growth of processed fish industry.

⋙ 𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟑𝟐𝟎 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) : https://www.alliedmarketresearch.com/checkout-final/291d1fe577b4a22d4f313cda63248403

According to the processed fish market analysis, the market is segmented on the basis of fish type, product, application, distribution channel, and region. By fish type, the market is categorized into capture and aquaculture. Both, the capture and aquaculture segments are specifically further bifurcated into cod, salmon, tuna, sardines, mackerel, and others. Moreover, depending on product, it is segmented into frozen, cured, and prepared and preserved segments. On the basis of application, the market is segmented into commercial and residential. Depending on distribution channel, the processed fish market is categorized into supermarkets and hypermarkets, convenience stores, independent retailers, online sales, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa).

As per the processed fish market forecast, by fish type, the aquaculture segment is the largest and the fastest-growing segment. This segment accounted for 53.3% of the processed fish market share in 2021 and is expected to grow at a CAGR of 3.5% during the forecast period. Aquaculture is emerging as one of the major and sustainable food sources that can provide food to a huge number of population. The surge in penetration of major food processing companies and growing demand for convenience food and ready-to-cook and ready-to-eat food products among consumers in the developed and developing economies are significantly fostering the growth of the global processed fish market across the globe.

As per the processed fish market trends, on the basis of product, the frozen segment dominated the market in 2021. This is attributed to the factors, such as technological advancements pertaining to storage, increasing the shelf life of fish meat, growing preference for convenience and ready-to-cook foods, and growing demand from household and commercial sectors. The growing population of young professionals boosts the demand for the frozen processed fish.

By application, the commercial segment dominated the market in 2021. The huge presence of food processors and foodservice units in developed economies like Europe and North America has led to the huge growth of the commercial segment in the processed fish market. The rising popularity of eating out culture in the developing nations is further expected to fuel the growth of the commercial segment in the forthcoming future.

⋙ 𝐓𝐚𝐥𝐤 𝐭𝐨 𝐨𝐮𝐫 𝐄𝐱𝐩𝐞𝐫𝐭 https://www.alliedmarketresearch.com/connect-to-analyst/A16983

According to the processed fish market opportunities, depending on distribution channel, the online sales channel is expected to be the fastest-growing segment during the forecast period. The online platform serves as a popular medium for the purchase of food ingredients and processed fish. This is attributed to easy availability of desired food products and required information about the attributes of the products, time-saving featuredue to the conveniences of shopping while sitting at home, and the facility of free home delivery provided by the online platform. According to the United Nations Conference on Trade and Development (UNCTAD), the e-commerce sector's proportion of total retail sales increased from 16% to 19% in 2020.

Region-wise, North America dominated the market in 2021. North America is the leading consumer of processed fish products, such as canned, frozen, and chilled fishes. The increased consumer awareness regarding the health benefits of seafood, growing demand for organic fish products, huge presence of restaurants and cafes, increased penetration of packaged food and top food processing companies, and increased demand for the convenience food products are the prominent factors that are expected to boost the growth of the North America processed fish market during the forecast period.

The key players operating in the processed fish industry include, Beach Cliff, Brunswick, Channel Fish Processing, Clover Leaf, Gadre Premium Seafood, Golden Prize Canning Co., Ltd., Goya Foods, Inc., MOWI, Oceans Secret, Perdue Farms, Safcol, Safe Catch, True North Seafood Company, Wild Planet Foods, and Young's Seafood.

📍𝐏𝐫𝐨𝐜𝐞𝐬𝐬𝐞𝐝 𝐟𝐢𝐬𝐡 𝐫𝐞𝐟𝐞𝐫𝐬 𝐭𝐨 𝐟𝐢𝐬𝐡 𝐭𝐡𝐚𝐭 𝐡𝐚𝐬 𝐮𝐧𝐝𝐞𝐫𝐠𝐨𝐧𝐞 𝐬𝐨𝐦𝐞 𝐟𝐨𝐫𝐦 𝐨𝐟 𝐚𝐥𝐭𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐚𝐟𝐭𝐞𝐫 𝐢𝐭 𝐢𝐬 𝐜𝐚𝐮𝐠𝐡𝐭. 𝐓𝐡𝐢𝐬 𝐜𝐚𝐧 𝐢𝐧𝐜𝐥𝐮𝐝𝐞 𝐚 𝐯𝐚𝐫𝐢𝐞𝐭𝐲 𝐨𝐟 𝐦𝐞𝐭𝐡𝐨𝐝𝐬, 𝐬𝐮𝐜𝐡 𝐚𝐬:

• Canning: Fish is cooked and sealed in a can, often with additional liquids like oil, water, or tomato sauce. Canned fish is shelf-stable and convenient.
• Smoking: Fish is cured with smoke, which gives it a distinctive flavor and helps to preserve it. Smoked salmon is a popular example.
• Salting: Salt is added to fish to draw out moisture and inhibit bacterial growth. Salt cod and lox are examples of salted fish.
• Pickling: Fish is preserved in a brine or vinegar solution. Pickled herring is a common type.
• Fermenting: Fish is fermented with bacteria, which produces lactic acid and enhances flavor. Examples include fermented fish sauce and lutefisk.

📍𝐏𝐫𝐨𝐜𝐞𝐬𝐬𝐞𝐝 𝐟𝐢𝐬𝐡 𝐜𝐚𝐧 𝐛𝐞 𝐚 𝐡𝐞𝐚𝐥𝐭𝐡𝐲 𝐚𝐧𝐝 𝐜𝐨𝐧𝐯𝐞𝐧𝐢𝐞𝐧𝐭 𝐰𝐚𝐲 𝐭𝐨 𝐢𝐧𝐜𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐬𝐞𝐚𝐟𝐨𝐨𝐝 𝐢𝐧𝐭𝐨 𝐲𝐨𝐮𝐫 𝐝𝐢𝐞𝐭. 𝐇𝐨𝐰𝐞𝐯𝐞𝐫, 𝐢𝐭 𝐢𝐬 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐭𝐨 𝐛𝐞 𝐚𝐰𝐚𝐫𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐩𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐝𝐨𝐰𝐧𝐬𝐢𝐝𝐞𝐬 𝐨𝐟 𝐩𝐫𝐨𝐜𝐞𝐬𝐬𝐞𝐝
𝐟𝐢𝐬𝐡, 𝐬𝐮𝐜𝐡 𝐚𝐬:

• Sodium content: Many processed fish products are high in sodium, which can be a concern for people with high blood pressure or other health conditions.
• Loss of nutrients: Some processing methods can lead to the loss of certain nutrients, such as vitamins and omega-3 fatty acids.
• Added ingredients: Some processed fish products may contain added sugars, unhealthy fats, or artificial preservatives.

When choosing processed fish, it is important to read the label carefully and choose products that are low in sodium and free of unhealthy additives. Opting for canned fish packed in water is a good way to limit sodium intake.

📞𝐂𝐨𝐧𝐭𝐚𝐜𝐭

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📝 𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

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 of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.

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