Processed Fish Market to generate $87.2 billion by 2031, with a CAGR of 2.8%
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.
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.
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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.
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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.
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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.
Key findings of the study In Processed Fish Market
The global processed fish market size was valued at $66,879.9 million in 2021, and is estimated to reach $87,172.2 million by 2031, registering a CAGR of 2.8% from 2022 to 2031.
By fish type, the aquaculture segment is estimated to witness the fastest growth, registering a CAGR of 3.5% during the forecast period.
In 2021, depending on product, the frozen segment was valued at $41,023.3 million, accounting for 61.3% of the global processed fish market share.
In 2021, the U.S. was the most prominent market in North America, and is projected to reach $20,451.8 million by 2031, growing at a CAGR of 2.1% during the forecast period.
Processed Fish Market to generate $87.2 billion by 2031, with a CAGR of 2.8%
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.
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.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/A16983
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.
Buy This Research Report: https://www.alliedmarketresearch.com/processed-fish-market/purchase-options
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.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/A16983
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.
Key findings of the study In Processed Fish Market
The global processed fish market size was valued at $66,879.9 million in 2021, and is estimated to reach $87,172.2 million by 2031, registering a CAGR of 2.8% from 2022 to 2031.
By fish type, the aquaculture segment is estimated to witness the fastest growth, registering a CAGR of 3.5% during the forecast period.
In 2021, depending on product, the frozen segment was valued at $41,023.3 million, accounting for 61.3% of the global processed fish market share.
In 2021, the U.S. was the most prominent market in North America, and is projected to reach $20,451.8 million by 2031, growing at a CAGR of 2.1% during the forecast period.
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