Groundfish Market, Size, Share, Global Forecast 2024-2030, Industry Trends, Growth, Insight, Top Companies Analysis
Groundfish Market Outlook
Groundfish are essential contributors to food security, livelihoods, employment, export earnings, and economic growth across the globe. The groundfish fishery is an essential step towards addressing long-term economic sustainability in fisheries worldwide. The growing awareness about the health advantages of ground-fish leads the market to grow significantly in the forthcoming years. There is a worldwide increasing demand for seafood products due to being rich in protein, selenium, and phosphorous. It acts as a critical source of low-fat protein for muscle building from bodybuilders and athletes, driving the ground-fish market. According to Renub Research, the Global Groundfish Market is projected to reach US$ 13.18 Billion by 2027.
Since the past half-decade, consumers have been inclining towards protein-rich fishes such as Alaska Pollock, Blue whiting, Atlantic cod, Hake and Others. Alaska Pollock are highly preferred due to their good selenium, protein, vitamin B12, and phosphorous. Apart from the nutritional abundance, its low risk of environmental toxins and price play a significant part in consumer inclination towards Alaska Pollock.
Moreover, the Atlantic codfish is famous for having a meaty texture, mild flavor, and blistering white flesh. Codfish livers are used to make cod liver oil in the food processing industry. The market is estimated to gain significant market share during the forecast period owing to large size preferences by the consumers. As per our research findings, Worldwide Groundfish Industry is likely to grow at a CAGR of 4.07% during 2020-2027.
Types of Groundfish
It is an umbrella term that refers to many species of fish that dwell near the ocean floor. While there are numerous ground-fish fisheries includes over 50 species of Rockfish, eight species of Sole, and Sablefish (Black Cod), Lingcod, Pacific Cod, Thornyheads, Flounders Skates or Pacific Sanddabs worldwide. In addition, ground-fish exclusively works with the West Coast, encompassing 90+ different species of fish native to the Pacific and abundant off the coast of California, Oregon and Washington State.
Based on the Application
The ground-fish market has been segmented into Grocery Retail, Full Service Restaurant, Quick Service Restaurant, Hotels, and Institutional Foodservice. Grocery Retail holds the largest market share, this support both business-to-business (B2B) and business-to-consumer (B2C) operations. At a B2C level, retailers offer their products on their websites or through established e-commerce sites. Major retailers also provide home delivery or in-store pick up of ground-fish products. As per this research report, Global Ground-fish Market Size was US$ 9.97 Billion in 2020.
Regional Analysis
Besides, North America accounts for the highest market for ground-fish due to the increased production of ground-fish in the region. In Europe, the United Kingdom is one of those critical countries wherein the preferences of ground-fish consumption are mainly with a growing number of restaurants, hotels, and resorts and growing preferences to spend holidays on beach locations have an increasing demand for ground-fish. Mowi ASA, Nomad Foods Ltd, Royal Greenland, Performance Food Group are the key players in the ground-fish market covered in this report
COVID-19 Pandemic
Ongoing outbreak of the COVID-19, the production of the ground-fish market was affected because the food industry's supply chain has been completely disturbed. The foodservice industry is one of the leading applications of ground-fish. However, the ongoing pandemic has led to a decline in foot traffic in various foodservice sectors, affecting the demand for ground-fish. In particular, prices for fresh fish are under pressure, while frozen and packaged products remain the preferred choice among consumers.
Renub Research latest report “Global Groundfish Market by Product (Alaska Pollock, Blue whiting, Atlantic cod, Hake and Others) by Application (Grocery Retail, Full Service Restaurant, Quick Service Restaurant, Hotels, and Institutional Foodservice) by Region (North America, Asia Pacific, Europe, Middle East, South America) Companies (Mowi ASA, Nomad Foods Ltd, Royal Greenland, Performance Food Group)” provides a detailed analysis Worldwide Ground-fish Industry.
Product - Global Ground-Fish Market has been covered from 5 Viewpoints:
1. Alaska Pollock
2. Blue whiting
3. Atlantic cod
4. Hake
5. Others
Application - Global Ground-Fish Market has been covered from 5 Viewpoints:
1. Grocery Retail
2. Full Service Restaurant
3. Quick Service Restaurant
4. Hotels
5. Institutional Foodservice
Region- Global Ground-Fish Market has been covered from 5 Viewpoints:
1. North America
2. Europe
3. Asia Pacific
4. Middle East
5. South America
Company Insights:
• Overview
• Company Initiatives
• Sales Analysis
Companies Covered:
1. Mowi ASA
2. Nomad Foods Ltd
3. Royal Greenland
4. Performance Food Group
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Groundfish Market
6. Market Share – Global Groundfish Analysis
6.1 By Product Type
6.2 By Application
6.3 By Region
7. Product – Global Groundfish Market
7.1 Alaska Pollock
7.2 Blue whiting
7.3 Atlantic cod
7.4 Hake
7.5 Others
8. Application – Global Groundfish Market
8.1 Grocery Retail
8.2 Full Service Restaurant
8.3 Quick Service Restaurant
8.4 Hotels
8.5 Institutional Foodservice
9. Region – Global Groundfish Market
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Middle East
9.5 South America
10. Company Analysis
10.1 Mowi ASA
10.1.1 Overview
10.1.2 Recent Development
10.1.3 Revenue
10.2 Nomad Foods Ltd
10.2.1 Overview
10.2.2 Recent Development
10.2.3 Revenue
10.3 Royal Greenland
10.3.1 Overview
10.3.2 Recent Development
10.3.3 Revenue
10.4 Performance Food Group
10.4.1 Overview
10.4.2 Recent Development
10.4.3 Revenue
List Of Figures:
Figure-01: Global Ground-fish Market (Billion US$), 2016 – 2020
Figure-02: Forecast for – Global Ground-fish Market (Billion US$), 2021 – 2027
Figure-03: Product – Alaska Pollock Market (Million US$), 2016 – 2020
Figure-04: Product – Forecast for Alaska Pollock Market (Million US$), 2021 – 2027
Figure-05: Product – Blue Whiting Market (Million US$), 2016 – 2020
Figure-06: Product – Forecast for Blue Whiting Market (Million US$), 2021 – 2027
Figure-07: Product – Atlantic Cod Market (Million US$), 2016 – 2020
Figure-08: Product – Forecast for Atlantic Cod Market (Million US$), 2021 – 2027
Figure-09: Product – Hake Market (Million US$), 2016 – 2020
Figure-10: Product – Forecast for Hake Market (Million US$), 2021 – 2027
Figure-11: Product – Hake Others (Million US$), 2016 – 2020
Figure-12: Product – Forecast for Others Market (Million US$), 2021 – 2027
Figure-13: Application – Grocery Retail Market (Million US$), 2016 – 2020
Figure-14: Application – Forecast for Grocery Retail Market (Million US$), 2021 – 2027
Figure-15: Application – Full Service Restaurant Market (Million US$), 2016 – 2020
Figure-16: Application – Forecast for Full Service Restaurant Market (Million US$), 2021 – 2027
Figure-17: Application – Quick Service Restaurant Market (Million US$), 2016 – 2020
Figure-18: Application – Forecast for Quick Service Restaurant Market (Million US$), 2021 – 2027
Figure-19: Application – Hotels Market (Million US$), 2016 – 2020
Figure-20: Application – Forecast for Hotels Market (Million US$), 2021 – 2027
Figure-21: Application – Institutional Food Service Market (Million US$), 2016 – 2020
Figure-22: Application – Forecast for Institutional Food Service Market (Million US$), 2021 – 2027
Figure-23: North America – Global Ground-fish Market (Million US$), 2016 – 2020
Figure-24: North America – Forecast for Global Ground-fish Market (Million US$), 2021 – 2027
Figure-25: Europe – Global Ground-fish Market (Million US$), 2016 – 20203
Figure-26: Europe – Forecast for Global Ground-fish Market (Million US$), 2021 – 2027
Figure-27: Asia Pacific – Global Ground-fish Market (Million US$), 2016 – 2020
Figure-28: Asia Pacific – Forecast for Global Ground-fish Market (Million US$), 2021 – 2027
Figure-29: Middle East – Global Ground-fish Market (Million US$), 2016 – 2020
Figure-30: Middle East – Forecast for Global Ground-fish Market (Million US$), 2021 – 2027
Figure-31: South America – Global Ground-fish Market (Million US$), 2016 – 2020
Figure-32: South America – Forecast for Global Ground-fish Market (Million US$), 2021 – 2027
Figure-33: Mowi ASA – Global Revenue (Million US$), 2016 – 2020
Figure-34: Mowi ASA – Forecast for Global Revenue (Million US$), 2021 – 2027
Figure-35: Nomad Foods Ltd. – Global Revenue (Million US$), 2016 – 2020
Figure-36: Nomad Foods Ltd. – Forecast for Global Revenue (Million US$), 2021 – 2027
Figure-37: Royal Greenland – Global Revenue (Million US$), 2016 – 2020
Figure-38: Royal Greenland – Forecast for Global Revenue (Million US$), 2021 – 2027
Figure-39: Performance Food Group – Global Revenue (Million US$), 2016 – 2020
Figure-40: Performance Food Group – Forecast for Global Revenue (Million US$), 2021 – 2027
List Of Tables:
Table-01: Global Ground-fish Market Share by Product (Percent), 2016 – 2020
Table-02: Forecast for – Global Ground-fish Market Share by Product (Percent), 2021 – 2027
Table-03: Global Ground-fish Market Share by Application (Percent), 2016 – 2020
Table-04: Forecast for – Global Ground-fish Market Share by Application (Percent), 2021 – 2027
Table-05: Global Ground-fish Market Share by Region (Percent), 2016 – 2020
Table-06: Forecast for – Global Ground-fish Market Share by Region (Percent), 2021 – 2027
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