Halibut Market Scope
Halibut is the common name for three flatfish highly regarded as a food fish as well as a sport fish. The Atlantic halibut is one of the largest flatfishes and these are commonly used in food industries for exotic seafood servings. These are full of protein content and reduced B vitamin content (per 100 grams) additionally include magnesium, phosphorus, and selenium. Halibut contains 80% water and hence has a dense and firm texture with a clean taste. The rising popularity of fish sports has caused an upsurge in the halibut market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Pacific Seafood Group (United States), Polar Seafood Greenland A/S (Greenland), Van der Lee Seafish B.V. (The Netherlands) and Sprestine Sea Inc. (Canada) |
CAGR | 20.3% |
The global market for halibut is consolidated by the global players owing to the rising demand for the exotic seafood preparation and rising popularity of the fish sports. The market players should focus on harvesting the halibut in farms for conservative measures and comply to government restrictions over wild caught halibut for business development. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Halibut market throughout the predicted period.
Pacific Seafood Group (United States), Polar Seafood Greenland A/S (Greenland), Van der Lee Seafish B.V. (The Netherlands) and Sprestine Sea Inc. (Canada) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Halibut market by Type , by Application (Household and Commercial) and Region with country level break-up.
On the basis of geography, the market of Halibut has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In October 2022, Pacific Seafood Group acquires Canada seafood processing company
In May 2021, Now that COVID-19 outbreaks are under control at Pacific Seafood, the supplier is turning its attention to launching unique value-added seafood items with partners such as Amazon and Pac-12 university football and basketball.
The North Pacific Fishery Management Council and the International Pacific Halibut Commission authorizes annual transfers of commercial halibut IFQ as guided angler fish (GAF) to charter halibut permit holders for harvest in the charter halibut fishery. and The International Pacific Halibut Commission section 26 states the prohibition of recreational (sport) fishing including tools above permitted grades like a spear and Any halibut size limit promulgated under IPHC or NOAA Fisheries regulations should be measured in a straight line passing over the pectoral fin of halibut from the tip of the lower jaw with the mouth closed
Influencing Trend:
Enhancement in Harvesting Techniques and Innovation in Recipes to Cater the Vast Taste Differences
Market Growth Drivers:
Rise in Changing Food Habits and Popularity of Diverse Seafood Amongst Youth
Challenges:
Rising Awareness and Adoption of The Vegan Diet Hampers the Market Growth and Availability of Other Sea Food Substitutes and Easier Fishery Harvesting Options then Halibut
Restraints:
Growth in the Severe Law Executed Against Sea Animals Brutality
Opportunities:
Rise in Popularity Rich Protein Diet in Fitness Industry and Increasing Awareness about Species Conservation and Cutting-Edge Fishery Technology and Processes for Growth of Halibut
Key Target Audience
Halibut Suppliers, Fishery Farms, Research Institutes, End User Industry and Others