The global fin fish market size reached US$ 186.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 242.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028.
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:
- IMARC Group 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 2023-2028. Our report has categorized the market based on fish type, environment and distribution channel.
Breakup by Fish Type:
- Tropical Fin Fish
Breakup by Environment:
- Marine Water
- Brackish Water
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- 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:
- How has the global fin fish market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global fin fish market?
- What are the key regional markets?
- What is the breakup of the market based on the fish type?
- What is the breakup of the market based on the environment?
- What is the breakup of the market based on the distribution channel?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global fin fish market and who are the key players?
- What is the degree of competition in the industry?