Global Smoked Fish Market 2018-2022| Rising Demand for Processed Seafood to Boost Demand| Technavio
LONDON--(BUSINESS WIRE)--Nov 22, 2018-- analysts forecast the global smoked fish market to grow at a CAGR of close to 7% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global smoked fish market from 2018-2022. (Graphic: Business Wire)
Innovative techniques of smoking fish to enhance quality and flavor is one of the major trends being witnessed in the . In 2015, SNV Netherlands, in association with the Food and Agriculture organization, introduced a new technology for smoking fish called FTT-Thiaroye. This technology would enable market players to create new products that meet new safety requirements and aid drying and smoking operations irrespective of the weather conditions. Furthermore, in 2015, scientists at the Nigerian Stored Product Research Institute, Donn, and National Institute for Fresh Water Fisheries Research, New Bussa, developed an improved fish smoking kiln, which can be dismantled into eight parts and has a temperature gauge to monitor the drying temperature and an oil collector unit to collect oil from fish. Thus, with such innovative techniques, the market is expected to register a positive outlook during the forecast period,
According to Technavio analysts, one of the key factors contributing to the growth of the global smoked fish market is the rising demand for processed seafood:
Global smoked fish market: Rising demand for processed seafood
The popularity of processed seafood, such as smoked salmon, mackerel, whitefish, and haddock, has been increasing as these products do not need much preparation time. Rising disposable income and working-class population in APAC, Eastern Europe, Africa, and Latin America has led to an increased demand for RTE packaged processed seafood products because of their convenience. Additionally, the growing demand for seafood products in regions such as Western Europe and North America has increased the demand for processed products. The global smoked fish market has witnessed growth in demand and popularity in countries such as Germany, Portugal, Australia, France, the US, Nigeria, Italy, and Spain. The wide range of seafood available in ready-to-eat packaging format saves time as well as effort.
According to a senior analyst at Technavio for research on food, “Apart from rising demand for processed food, other factors that are boosting the growth of the global market are online retailing and increasing number of organized retail outlets. These channels are enhancing vendor profitability as well as improving sales, thus contributing to the growth of the global smoked fish market.”
Global smoked fish market: Segmentation analysis
The global smoked fish market research report provides market segmentation by product (smoked salmon, smoked mackerel, smoked herring, smoked trout and other smoked fish), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The EMEA region held the largest share of the market in 2017, accounting for over 70% share, followed by the Americas and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period, followed by the Americas.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 11/22/2018 11:20 AM/DISC: 11/22/2018 11:20 AM