The global fin fish market size reached US$ 194.2 Billion in 2023. Looking forward, the market is projected to reach US$ 274.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.90% during 2023-2032.
Fin fish refers to a species of cartilaginous fish characterized by bony spines or rays protruding from the body. They are a rich source of phosphorus, calcium, and other minerals, such as iron, zinc, iodine, magnesium, and potassium. Snappers, salmon, tuna, milkfish, pompano, seabass, catfish, groupers, tilapia, and sea bass are some common fin fish types.
Their regular consumption aids in improving cardiovascular health, brain function, eyesight, and skin, preventing oxidative stress to the thyroid gland, and repairing damaged tissues. Fin fish are cultivated in three types of environments, which include brackish, marine water, and freshwater. Their production also involves feeding, regular stocking, and conservation of aquatic life.
Moreover, the widespread adoption of salmon, tuna, Maine sardines, and mackerel in ready-to-eat (RTE) meals due to the increasing working population, hectic schedules, and busy lifestyles is positively influencing the market growth. Other factors, including the rising demand for seafood cuisines, increasing expenditure capacities of consumers, and the implementation of various government initiatives supporting fish farming, are anticipated to drive the market toward growth.
2. What is the expected growth rate of the global fin fish market during 2024-2032?
3. What are the key factors driving the global fin fish market?
4. What has been the impact of COVID-19 on the global fin fish market?
5. What is the breakup of the global fin fish market based on the fish type?
6. What is the breakup of the global fin fish market based on the environment?
7. What is the breakup of the global fin fish market based on the distribution channel?
8. What are the key regions in the global fin fish market?
9. Who are the key players/companies in the global fin fish market?
Fin fish refers to a species of cartilaginous fish characterized by bony spines or rays protruding from the body. They are a rich source of phosphorus, calcium, and other minerals, such as iron, zinc, iodine, magnesium, and potassium. Snappers, salmon, tuna, milkfish, pompano, seabass, catfish, groupers, tilapia, and sea bass are some common fin fish types.
Their regular consumption aids in improving cardiovascular health, brain function, eyesight, and skin, preventing oxidative stress to the thyroid gland, and repairing damaged tissues. Fin fish are cultivated in three types of environments, which include brackish, marine water, and freshwater. Their production also involves feeding, regular stocking, and conservation of aquatic life.
Fin Fish Market Trends
The significant growth in the food and beverage (F&B) industry across the globe is creating a positive outlook for the market. Fin fish is widely used for preparing various dishes, such as sandwiches, rice dishes, and pasta and are also used in salt herring, salmon, and salmon eggs. In line with this, the rising health consciousness and the increasing demand for protein-rich food among the masses is favoring the market growth. Apart from this, various technological innovations in fishing equipment that helps decrease the complexities and endeavors in fishing and aquafarming are providing an impetus to the market growth.Moreover, the widespread adoption of salmon, tuna, Maine sardines, and mackerel in ready-to-eat (RTE) meals due to the increasing working population, hectic schedules, and busy lifestyles is positively influencing the market growth. Other factors, including the rising demand for seafood cuisines, increasing expenditure capacities of consumers, and the implementation of various government initiatives supporting fish farming, are anticipated to drive the market toward growth.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global fin fish market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on fish type, environment and distribution channel.Breakup by Fish Type:
- Tropical Fin Fish
- Pompano
- Snappers
- Groupers
- Salmon
- Milkfish
- Tuna
- Tilapia
- Catfish
- Seabass
- Others
Breakup by Environment:
- Freshwater
- Marine Water
- Brackish Water
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Blue Ridge Aquaculture Inc., Cermaq Group AS (Mitsubishi Corporation), Eastern Fish Company, Leroy Seafood Group ASA (Austevoll Seafood ASA), Mowi ASA, P/F Bakkafrost, Stehr Group Pty Ltd., Tassal Group Limited, Thai Union Group PCL and Wanchese Fish Company (Cooke Inc.).Key Questions Answered in This Report
1. What was the size of the global fin fish market in 2023?2. What is the expected growth rate of the global fin fish market during 2024-2032?
3. What are the key factors driving the global fin fish market?
4. What has been the impact of COVID-19 on the global fin fish market?
5. What is the breakup of the global fin fish market based on the fish type?
6. What is the breakup of the global fin fish market based on the environment?
7. What is the breakup of the global fin fish market based on the distribution channel?
8. What are the key regions in the global fin fish market?
9. Who are the key players/companies in the global fin fish market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Fin Fish Market
6 Market Breakup by Fish Type
7 Market Breakup by Environment
8 Market Breakup by Distribution Channel
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Blue Ridge Aquaculture Inc.
- Cermaq Group AS (Mitsubishi Corporation)
- Eastern Fish Company
- Leroy Seafood Group ASA (Austevoll Seafood ASA)
- Mowi ASA
- P/F Bakkafrost
- Stehr Group Pty Ltd.
- Tassal Group Limited
- Thai Union Group PCL
- Wanchese Fish Company (Cooke Inc.)
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 194.2 Billion |
| Forecasted Market Value ( USD | $ 274 Billion |
| Compound Annual Growth Rate | 3.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
