Fresh Fish Market By Product (Pelagic & Demersal), By Form (Fresh & Frozen), By Distribution Channel (Offline & Online), Region, Segmentation, and Forecast to 2029.
Pune India, Dec. 13, 2022 (GLOBE NEWSWIRE) — For North America, Europe, Asia, South America, and the Middle East & Africa, the market has been studied for the following segmentation and the following regional analysis. These are the main areas to include fresh fish market is currently operating and is expected to expand in the near future. Manufacturers and suppliers involved fresh fish market in different countries in the above regions.
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The report provides a detailed understanding of the market segments created by combining different perspectives such as product, form, distribution channel and region. Apart from this, key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the following paragraphs.
Important players operating globally fresh fish market Mowi, Thai Union Group PCL, Cermaq Group AS, Huon Aqua, Stolt Sea Farm, Stehr Group, Leigh Fisheries, True World Foods, Priory Fishery Ltd. manufacturers pursue expansion methods such as existing developments, mergers and acquisitions, product innovations, partnerships, and joint ventures.
Fish have gills and are aquatic vertebrates, but they lack fingers and toes. They are also vertebrates. Any animal that has a spine running through its body is considered a vertebrate. Most fish have aerodynamically designed bodies. More than 34,000 different species of fish, which are vertebrate animals that live in both fresh and salt water, are found in the phylum Chordata. There are many living species, from the jawless leeches and fishes found in ancient ecosystems to the crabs, skates and rays found in modern oceans to the numerous and diverse bony fishes. Increasing demand and consumption of fresh fish products in developed and developing countries will drive the market. According to the Food and Agriculture Organization (FAO), worldwide fish consumption has increased at a rate that has significantly outpaced population growth. Additionally, the market is expected to grow faster during the forecast period as people become aware of the health benefits of fresh fish, which include reducing the risk of chronic diseases and regulating hormone levels.
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New Fish Market Report Area
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Metric Report |
Information |
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Study Period |
2021-2029 |
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Base year |
2021 |
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The Age of Anticipation |
2022-2029 |
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Market Share Unit |
Billion USD |
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Covered Sections |
Product, Form, Distribution Channel and Territory |
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Covered Areas |
North America, Europe, Asia-Pacific, South America, and the Middle East and Africa |
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Major Players |
Mowi, Thai Union Group PCL, Cermaq Group AS, Huon Aqua, Stolt Sea Farm, Stehr Group, Leigh Fisheries, True World Foods, Priory Fishery Ltd. |
Segmentation Analysis
Pelagic The 2021 episode is expected to be the earliest episode.
The product category is Pelagic and Demersal. The pelagic segment is expected to witness the highest growth rate during the forecast period. The market will grow during the forecast period as consumers become aware of the health benefits of eating fish. Due to the sharp decline in protein and vitamin levels caused by the increased consumption of pelagic fish, the market has expanded. The industry is also growing as consumption and production of pelagic fish is booming in developing countries like China, Indonesia and India, where costs are lower.
Cloud computing is expected to be the fastest growing segment in 2021.
The form section includes Fresh and Frozen. The cloud segment of the form is expected to witness the highest growth rate during the forecast period. Sector: Eating fresh fish has many health benefits, including a reduced risk of developing chronic diseases. The demand for this category is also greatly increased by the consumer preference for fish dishes that are high in protein.
Offline It is expected to be the fastest growing segment in 2021.
The distribution channel segment includes Offline and Online. The offline segment is expected to witness the highest growth rate during the forecast period. Fresh fish suppliers use the traditional sales channel to increase sales. Consumers prefer brick-and-mortar stores because they can physically inspect items, food, and fish feed before purchasing. The category may also be influenced by the easy access and search of various fish products through traders. Offline channels are expected to continue to dominate during the forecast period due to the growth of global distribution channel networks.
Regional Analysis
Regional analysis provides a comprehensive understanding of regions and countries. Some of the major countries analyzed for fresh fish are USA, Canada, Mexico, Germany, France, UK, Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia .
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The European region witnessed a large share. Market expansion in this area is driven by increasing demand for environmental products and increasing awareness of their positive effects on health. Additionally, due to concerns about premature aging of the skin, bone health, and the incidence of cardiovascular diseases, there is a growing demand for fish products in the European region. The market is also expected to grow during the forecast period due to increasing consumer demand for quality fish products due to freshness, variety and ease of use for food safety. This demand is thought to be the primary market driver.
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Country Analysis
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Germany
Germany’s fresh fish market size was valued at USD 2.29 billion in 2021 and is expected to reach USD 2.85 billion by 2029, at a CAGR of 2.8% from 2022 to 2029. Expanding interest in sustainability and growing awareness of its health benefits are driving the expansion of this market. The demand for fish products in Germany is also increasing due to the increasing incidence of cardiovascular diseases, as well as increasing concerns about premature aging of the skin, bone health, and other difficulties.
China’s fresh fish market size was valued at USD 1.7 billion in 2021 and is expected to reach USD 2.07 billion by 2029, at a CAGR of 2.5% from 2022 to 2029. The 2020 FAO report states that in 2018, catches from inland fisheries reached a record high of 12.0 million tonnes. The top seven producers account for almost half of all catches, with China accounting for 15% of the total, followed by Indonesia (7%), Peru (7%), and India (6%). However, the potential of aquaculture to emerge as a major business in the country is hindered by the fact that the average income of fishermen in the country, which was USD 2,685 in 2018, was lower than the industry wage. China produces the most fish in the world, but it also consumes the most fish, thanks to the country’s rapidly increasing GDP and wealth.
The size of India’s fresh fish market was valued at USD 1.4 billion in 2021 and is expected to reach USD 1.66 billion by 2029, at a CAGR of 2.2% from 2022 to 2029. Due to increased production of fish products worldwide as well as improvements in cold chain, transportation and distribution systems, consumer demand for fish-based products has increased. However, increased government assistance and improvements in the transportation system have increased the importance of foreign trade in the past few years. The Marine Products Export Development Authority (MPEDA) in India has launched an initiative to build a GPS-based database of exported aquaculture farms to guarantee traceability and quality control of products from these farms.
The impact of Covid-19
Covid-19 has had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobiles, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences for technological services. In addition, the pandemic has led to the growth of technology across developed and developing countries.
Moreover, the growth of this market is mainly driven by the growth of fish.
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