Fin Fish Market Size, Share, Demand Growth - Report 2032

IMARC Group’s report titled “Fin Fish Market Report by Fish Type (Tropical Fin Fish, and Others), Environment (Freshwater, Marine Water, Brackish Water), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, and Others), and Region 2024–2032”. The global fin fish market size reached US$ 194.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 274.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.82% during 2024–2032.

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Factors Affecting the Growth of the Fin Fish Industry:

• Health Awareness:

Fish is highly acclaimed for its health benefits. It is rich in omega-3 fatty acids, which are essential for cardiovascular health, brain function and reduced inflammation. It is also rich in lean protein, vitamins such as vitamin D and B2, and minerals such as iron, zinc, iodine, magnesium and potassium. As more and more people become aware of these health benefits, there is a growing trend to include fish in their diet. Health organizations and dietary guidelines frequently recommend including fish in the daily diet, which also drives demand for fish around the world.

• Aquaculture Growth:

Fish is rich in essential nutrients, including omega-3 fatty acids, protein, vitamins such as vitamin D and B2, and minerals such as magnesium, potassium and zinc. These nutrients are important for heart health, brain function and overall health. Increasing public knowledge about these benefits, highlighted through health campaigns and nutrition education, will encourage more people to include fish in their diet. There is growing evidence that regularly eating fish may reduce the risk of several diseases, including cardiovascular disease, Alzheimer’s disease and type 2 diabetes.

• Technological Advancements:

Innovations in aquaculture, such as recirculating aquaculture systems (RAS), automated feeding systems, and improved water quality management, help improve the yield and health of farmed fish. These systems can also reduce environmental impacts such as water use and waste, making aquaculture more sustainable. Genetic technology and selective breeding methods allow for the production of fish that grow faster, are more resistant to diseases, and can thrive in a range of environmental conditions. This not only increases productivity but also reduces losses due to disease.

Leading Companies Operating in the Global Fin Fish Industry:

• 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.)

Fin Fish Market Report Segmentation:

By Fish Type:

• Tropical Fin Fish
• Pompano
• Snappers
• Groupers
• Salmon
• Milkfish
• Tuna
• Tilapia
• Catfish
• Seabass
• Others

Tropical fin fish represents the largest segment due to its diverse applications in culinary traditions worldwide and its adaptability to aquaculture settings, making them a prevalent choice for both consumers and producers.

By Environment:

• Freshwater
• Marine Water
• Brackish Water

Freshwater accounts for the majority of the market share. Freshwater environments are more abundant and accessible than marine settings for aquaculture, reducing costs and logistical challenges, thus supporting larger production volumes of fin fish.

By Distribution Channel:

• Supermarkets and Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Stores
• Others

Supermarkets and hypermarkets exhibit a clear dominance in the market as they provide a wide range of fish products with effective cold storage facilities, making them convenient one-stop shops for consumers seeking variety and freshness in their seafood purchases.

Regional Insights:

• 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

Asia Pacific enjoys the leading position in the fin fish market on account of its long-standing cultural affinity for seafood, coupled with large-scale aquaculture operations and inflating income levels, driving substantial consumption and production of fin fish.

Global Fin Fish Market Trends:

Increasing consumer preference for convenience is driving the demand for processed and ready-to-eat (RTE) fish products. This includes smoked, frozen and canned fish, which are easy to prepare and consume. To address sustainability issues associated with fishmeal and fish oil traditionally used in aquafeed, there is an increasing shift towards alternative sources such as plant proteins and insect meals, which are more sustainable and environmentally friendly.

Increasing disposable income and urbanization in emerging economies are contributing to the market growth. People in these regions are adopting more diverse diets, thus increasing fish consumption.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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