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Global Groundfish Market, Forecast, Impact of COVID-19, Industry Trends, by Product, Application, Growth, Opportunity Company Analysis

  • ID: 5411852
  • Report
  • August 2021
  • Region: Global
  • 110 pages
  • Renub Research
The Global Groundfish Market is Projected to Reach US 13.18 Billion by 2027

FEATURED COMPANIES

  • Mowi ASA
  • Nomad Foods Ltd
  • Performance Food Group
  • Royal Greenland
Groundfish are essential contributors to food security, livelihoods, employment, export earnings, and economic growth across the globe. The groundfish fishery is an essential step towards addressing long-term economic sustainability in fisheries worldwide. The growing awareness about the health advantages of ground-fish leads the market to grow significantly in the forthcoming years. There is a worldwide increasing demand for seafood products due to being rich in protein, selenium, and phosphorous. It acts as a critical source of low-fat protein for muscle building from bodybuilders and athletes, driving the ground-fish market. According to the publisher, the Global Groundfish Market is projected to reach US$ 13.18 Billion by 2027.



Since the past half-decade, consumers have been inclining towards protein-rich fishes such as Alaska Pollock, Blue whiting, Atlantic cod, Hake and Others. Alaska Pollock are highly preferred due to their good selenium, protein, vitamin B12, and phosphorous. Apart from the nutritional abundance, its low risk of environmental toxins and price play a significant part in consumer inclination towards Alaska Pollock.

Moreover, the Atlantic codfish is famous for having a meaty texture, mild flavor, and blistering white flesh. Codfish livers are used to make cod liver oil in the food processing industry. The market is estimated to gain significant market share during the forecast period owing to large size preferences by the consumers. As per our research findings, Worldwide Groundfish Industry is likely to grow at a CAGR of 4.07% during 2020-2027.

Types of Groundfish

It is an umbrella term that refers to many species of fish that dwell near the ocean floor. While there are numerous ground-fish fisheries includes over 50 species of Rockfish, eight species of Sole, and Sablefish (Black Cod), Lingcod, Pacific Cod, Thornyheads, Flounders Skates or Pacific Sanddabs worldwide. In addition, ground-fish exclusively works with the West Coast, encompassing 90+ different species of fish native to the Pacific and abundant off the coast of California, Oregon and Washington State.

Based on the Application

The ground-fish market has been segmented into Grocery Retail, Full Service Restaurant, Quick Service Restaurant, Hotels, and Institutional Foodservice. Grocery Retail holds the largest market share, this support both business-to-business (B2B) and business-to-consumer (B2C) operations. At a B2C level, retailers offer their products on their websites or through established e-commerce sites. Major retailers also provide home delivery or in-store pick up of ground-fish products. As per this research report, Global Ground-fish Market Size was US$ 9.97 Billion in 2020.

Regional Analysis

Besides, North America accounts for the highest market for ground-fish due to the increased production of ground-fish in the region. In Europe, the United Kingdom is one of those critical countries wherein the preferences of ground-fish consumption are mainly with a growing number of restaurants, hotels, and resorts and growing preferences to spend holidays on beach locations have an increasing demand for ground-fish. Mowi ASA, Nomad Foods Ltd, Royal Greenland, Performance Food Group are the key players in the ground-fish market covered in this report.

COVID-19 Pandemic

Ongoing outbreak of the COVID-19, the production of the ground-fish market was affected because the food industry's supply chain has been completely disturbed. The foodservice industry is one of the leading applications of ground-fish. However, the ongoing pandemic has led to a decline in foot traffic in various foodservice sectors, affecting the demand for ground-fish. In particular, prices for fresh fish are under pressure, while frozen and packaged products remain the preferred choice among consumers.

This latest report “Global Groundfish Market by Product (Alaska Pollock, Blue whiting, Atlantic cod, Hake and Others) by Application (Grocery Retail, Full Service Restaurant, Quick Service Restaurant, Hotels, and Institutional Foodservice) by Region (North America, Asia Pacific, Europe, Middle East, South America) Companies (Mowi ASA, Nomad Foods Ltd, Royal Greenland, Performance Food Group)” provides a detailed analysis Worldwide Ground-fish Industry.

Product - Global Ground-Fish Market has been covered from 5 Viewpoints:

1. Alaska Pollock
2. Blue whiting
3. Atlantic cod
4. Hake
5. Others

Application - Global Ground-Fish Market has been covered from 5 Viewpoints:

1. Grocery Retail
2. Full Service Restaurant
3. Quick Service Restaurant
4. Hotels
5. Institutional Foodservice

Region- Global Ground-Fish Market has been covered from 5 Viewpoints:

1. North America
2. Europe
3. Asia Pacific
4. Middle East
5. South America

Company Insights:

  • Overview
  • Company Initiatives
  • Sales Analysis

Companies Covered:

1. Mowi ASA
2. Nomad Foods Ltd
3. Royal Greenland
4. Performance Food Group
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Mowi ASA
  • Nomad Foods Ltd
  • Performance Food Group
  • Royal Greenland
1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges

5. Global Groundfish Market

6. Market Share - Global Groundfish Analysis
6.1 By Product Type
6.2 By Application
6.3 By Region

7. Product - Global Groundfish Market
7.1 Alaska Pollock
7.2 Blue whiting
7.3 Atlantic cod
7.4 Hake
7.5 Others

8. Application - Global Groundfish Market
8.1 Grocery Retail
8.2 Full Service Restaurant
8.3 Quick Service Restaurant
8.4 Hotels
8.5 Institutional Foodservice

9. Region - Global Groundfish Market
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Middle East
9.5 South America

10. Company Analysis
10.1 Mowi ASA
10.1.1 Overview
10.1.2 Recent Development
10.1.3 Revenue
10.2 Nomad Foods Ltd
10.2.1 Overview
10.2.2 Recent Development
10.2.3 Revenue
10.3 Royal Greenland
10.3.1 Overview
10.3.2 Recent Development
10.3.3 Revenue
10.4 Performance Food Group
10.4.1 Overview
10.4.2 Recent Development
10.4.3 Revenue

List of Figure:
Figure-01: Global Ground-fish Market (Billion US$), 2016 - 2020
Figure-02: Forecast for - Global Ground-fish Market (Billion US$), 2021 - 2027
Figure-03: Product - Alaska Pollock Market (Million US$), 2016 - 2020
Figure-04: Product - Forecast for Alaska Pollock Market (Million US$), 2021 - 2027
Figure-05: Product - Blue Whiting Market (Million US$), 2016 - 2020
Figure-06: Product - Forecast for Blue Whiting Market (Million US$), 2021 - 2027
Figure-07: Product - Atlantic Cod Market (Million US$), 2016 - 2020
Figure-08: Product - Forecast for Atlantic Cod Market (Million US$), 2021 - 2027
Figure-09: Product - Hake Market (Million US$), 2016 - 2020
Figure-10: Product - Forecast for Hake Market (Million US$), 2021 - 2027
Figure-11: Product - Hake Others (Million US$), 2016 - 2020
Figure-12: Product - Forecast for Others Market (Million US$), 2021 - 2027
Figure-13: Application - Grocery Retail Market (Million US$), 2016 - 2020
Figure-14: Application - Forecast for Grocery Retail Market (Million US$), 2021 - 2027
Figure-15: Application - Full Service Restaurant Market (Million US$), 2016 - 2020
Figure-16: Application - Forecast for Full Service Restaurant Market (Million US$), 2021 - 2027
Figure-17: Application - Quick Service Restaurant Market (Million US$), 2016 - 2020
Figure-18: Application - Forecast for Quick Service Restaurant Market (Million US$), 2021 - 2027
Figure-19: Application - Hotels Market (Million US$), 2016 - 2020
Figure-20: Application - Forecast for Hotels Market (Million US$), 2021 - 2027
Figure-21: Application - Institutional Food Service Market (Million US$), 2016 - 2020
Figure-22: Application - Forecast for Institutional Food Service Market (Million US$), 2021 - 2027
Figure-23: North America - Global Ground-fish Market (Million US$), 2016 - 2020
Figure-24: North America - Forecast for Global Ground-fish Market (Million US$), 2021 - 2027
Figure-25: Europe - Global Ground-fish Market (Million US$), 2016 - 20203
Figure-26: Europe - Forecast for Global Ground-fish Market (Million US$), 2021 - 2027
Figure-27: Asia Pacific - Global Ground-fish Market (Million US$), 2016 - 2020
Figure-28: Asia Pacific - Forecast for Global Ground-fish Market (Million US$), 2021 - 2027
Figure-29: Middle East - Global Ground-fish Market (Million US$), 2016 - 2020
Figure-30: Middle East - Forecast for Global Ground-fish Market (Million US$), 2021 - 2027
Figure-31: South America - Global Ground-fish Market (Million US$), 2016 - 2020
Figure-32: South America - Forecast for Global Ground-fish Market (Million US$), 2021 - 2027
Figure-33: Mowi ASA - Global Revenue (Million US$), 2016 - 2020
Figure-34: Mowi ASA - Forecast for Global Revenue (Million US$), 2021 - 2027
Figure-35: Nomad Foods Ltd. - Global Revenue (Million US$), 2016 - 2020
Figure-36: Nomad Foods Ltd. - Forecast for Global Revenue (Million US$), 2021 - 2027
Figure-37: Royal Greenland - Global Revenue (Million US$), 2016 - 2020
Figure-38: Royal Greenland - Forecast for Global Revenue (Million US$), 2021 - 2027
Figure-39: Performance Food Group - Global Revenue (Million US$), 2016 - 2020
Figure-40: Performance Food Group - Forecast for Global Revenue (Million US$), 2021 - 2027

List of Tables:
Table-01: Global Ground-fish Market Share by Product (Percent), 2016 - 2020
Table-02: Forecast for - Global Ground-fish Market Share by Product (Percent), 2021 - 2027
Table-03: Global Ground-fish Market Share by Application (Percent), 2016 - 2020
Table-04: Forecast for - Global Ground-fish Market Share by Application (Percent), 2021 - 2027
Table-05: Global Ground-fish Market Share by Region (Percent), 2016 - 2020
Table-06: Forecast for - Global Ground-fish Market Share by Region (Percent), 2021 - 2027
Note: Product cover images may vary from those shown
  • Mowi ASA
  • Nomad Foods Ltd
  • Royal Greenland
  • Performance Food Group
Note: Product cover images may vary from those shown

In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.

Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.

Primary Research

The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develop the analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth, and forecast

The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:

  • Chief executives and VPs of leading corporations specific to the industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
  • Key opinion leaders (KOLs)

Secondary Research

The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, webcasts, and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
 

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