The
word fish is associated with eatable aquatic species such as finfish,
crustaceans, and mollusk. Fish is one of the delicate food which
demands proper handling for a long shelf life so that it do not lose
its nutritional value and desired quality, the primary concern from
which fish is to be protected is the deterioration issue. Many
contributors are involved in fish processing such as fishermen, fish
sourcing suppliers, seafood processors, manufacturers, logistics and
distribution, marketing & sales, and end-use industries or
consumers. Hence processed fish or fish products are obtain by
undergoing series of operations from the time fish were harvested;
till the time fish or fish products are delivered to the consumers.
Mostly, big business in fish processing operates their own fish
farming operations. Earlier fishery products were dependent upon very
simple methods majorly on knives and salt, this hinder quality of the
fish product when reached to the consumers at distant places. In 1980
market price of fish products totally liberalized, this brought a
great change in seafood industry; all modern techniques adopted while
giving the variety of processed fish food globally.
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Processed
Fish Market: Market Dynamics
The
growth in the processed fish market is primarily attributed to the
increasing demand for processed seafood among consumers and economic
growth landing to rising disposable income are driving the growth of
the processed fish market. Besides, change in lifestyle pattern,
particularly in the developing countries, are increasing demand for
processed fish. Due to hectic lifestyle, time-strapped people prefer
processed fish products over others as it provides healthy food
options which are convenient to cook and minute ready to eat. On the
other hand, the major factor restraining the growth of processed fish
market is the increase in the price of raw material used for
manufacturing processed fish.
Processed
Fish Market: Regional Outlook
Regarding
geography, the processed fish market has been categorized into seven
key regions including North America, Latin America, Eastern Europe,
Western Europe, Asia-Pacific excluding Japan, Japan, and the Middle
East & Africa. The Processed Fish market is expected to register
healthy CAGR during the forecast period. Asia Pacific excluding Japan
is experiencing the rapid increase in the production capacity of
processed fish market as a demand ready to eat seafood as a
substitute for protein is rising in developing countries such as
China, India, and South Korea. The Eastern and Western Europe are
projected to register healthy growth in countries such as UK,
Portugal, Italy, France, Germany shows increment in the usage of
marine food in catering while demanding processed seafood. North and
Latin America is also witnessing steady growth in processed food
market.
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Processed
Fish Market: Key players
Some
of the key player’s global processed fish market are Iglo Group,
High Liner Foods, Norway Pelagic ASA - Pesconova S.A., Royal
Greenland A/S, Leroy Seafood Group, Thai Union Frozen Products Public
Company Limited, Marine Harvest, Dong Won Fisheries, Nippon Suisan
Kaisha, Ltd., Leroy Seafood Group ASA, Empresas Aqua Chile, Beijing
Princess Seafood International Trading, Findus Group, Faroe Seafood,
Kverva, Hansung Enterprise, Maruha Nichiro Corporation, and Charoen
Pokphand Foods PCL among others.
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