About Fin Fish
Growing awareness about protein produces will help to boost global finfish market. Finfish refers to bony fish such as a salmon. Finfish also includes cartilaginous fish, such as a shark, particularly in contrast to a shellfish or other aquatic animal. The global market is projected to witness significant growth during the forecast period, owing to advanced technology develops the yield of finfish, upsurge in government rules and regulations in different nations that encourage fish farming. Finfish are cultivated in three types of environment, such as freshwater, brackish, and marine water.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Million) |
CAGR | 4.5% |
As with all technology, Fin Fish will evolve time. Competition among existing players is due to the stiff market share occupied by leading players. The companies are implementing strategic activities such as acquisition and mergers along with collaboration with companies in other industries to help them in improving sustenance and maintaining their competitive advantages. Analyst at AMA Research estimates that Norway Vendors will contribute the maximum growth to Global Fin Fish market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Alpha Group Ltd. (Kenya), Aquaculture Technologies Asia Limited (Hong Kong), Cermaq Group AS (Norway), Cooke Aquaculture (Canada), Leroy Seafood Group ASA (Norway), Marine Harvest ASA (Norway), Nippon Suisan Kaisha, Ltd. (Japan), P/F Bakkafrost (Denmark), Tassal Group Limited (Australia) and Thai Union Group PLC. (Thailand) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Empresas AquaChile S.A. (Chile) and Beijing Princess Seafood International Trading (China).
Segmentation Overview
AMA Research has segmented the market of Global Fin Fish market by , Application (Food and Non-Food) and Region.
On the basis of geography, the market of Fin Fish 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). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Fin Fish market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Environment, the sub-segment i.e. Freshwater will boost the Fin Fish market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fish, the sub-segment i.e. Pompano will boost the Fin Fish market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Government Supports For Fish Farming and Aquaculture and High Demand Due To Intensive Salmon Farming Using Open-Net Cages
Market Growth Drivers:
Changing Consumer Preference towards Protein Products and Growing Technological Revolution in Fishing Equipment
Challenges:
Growing Concern about Water Pollution
Restraints:
Increase in the Temperature
Opportunities:
Advancement in Inland Fishing and Use of More Sustainable Technology In Aquaculture, Hug Demand Due To Innovations in Breeding Processes and The Upsurge in Use of Technologically In Modern Fishing and Fish Farming
Market Leaders and their expansionary development strategies
In March 2019, Cooke Inc. a New Brunswick company and parent of Cooke Aquaculture Inc., has acquired All Seas Wholesale, Inc. of California, a distributor of up to forty species of fresh seafood, live shellfish, and frozen seafood products.
In October 2022, The South African Bureau of Standards (SABS) has published a new national standard that has ensure that consumers have access to fresh and quality fish, marine molluscs and crustaceans.
The Food and Drug Administration (FDA) is adopting final regulations to ensure the safe and sanitary processing of fish and fishery products (hereinafter referred to as seafood), including imported seafood. The regulations mandate the application of Hazard Analysis Critical Control Point (HACCP) principles to the processing of seafood. HACCP is a preventive system of hazard control that can be used by processors to ensure the safety of their products to consumers. FDA is issuing these regulations because a system of preventive controls is the most effective and efficient way to ensure that these products are safe.
Key Target Audience
Seafood Producers/ Processors, Commercial Research & Development (R&D) Institutions, Associations and Industrial Bodies, Hotels and Restaurants, Retailers, Supermarket, and Hypermarket, Traders, Exporters, and Importers, Government Regulatory Bodies, Government and Private Research Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.