The latest research study “Fin Fish Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global fin fish market size reached US$ 176.78 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 233.8 Billion by 2027 exhibiting a growth rate (CAGR) of 4.60% during 2022-2027.
A fin fish represents a species of cartilaginous fish characterized by bony spines or rays protruding from the body. It is a rich source of phosphorus, calcium, and other minerals, such as iron, zinc, iodine, magnesium, potassium, etc. Some of the commonly available variants include snappers, milkfish, pompano, seabass, catfish, groupers, tilapia, sea bass, etc. Their production involves regular stocking, feeding, conservation of aquatic life, etc. In line with this, they also assist in improving cardiovascular health, eyesight, brain function, and skin, preventing oxidative stress to the thyroid gland, repairing damaged tissues, etc. A fin fish is cultivated in three types of environments, such as marine water, brackish, and freshwater.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Fin Fish Market Trends and Drivers:
The widespread product adoption for preparing several dishes, such as sandwiches, rice dishes, pasta, etc., is primarily driving the fin fish market. Additionally, the growing consumer health consciousness and the escalating demand for a protein-rich diet are further catalyzing the market growth.
Besides this, numerous technological advancements in fishing equipment that aid in minimizing the complexities in aquafarming are acting as significant growth-inducing factors. Moreover, the rising utilization of various types of fin fish, including salmon, tuna, mackerel, etc., in ready-to-eat (RTE) meals is positively influencing the global market.
Apart from this, the increasing popularity of seafood cuisines and the inflating per capita income levels of individuals are anticipated to fuel the fin fish market over the forecasted period.
The report has been segmented the market into following categories:
Breakup by Fish Type:
- Tropical Fin Fish
Breakup by Environment:
- Marine Water
- Brackish Water
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- 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
List of Major Key Players:
The major players in the market are
- ABB Ltd., Aspen Technology Inc.
- Azbil Corporation
- Emerson Electric Co.
- FLSmidth & Co. A/S
- General Electric Company
- Honeywell International Inc.
- Onto Innovation
- Panasonic Corporation
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Yokogawa Electric Corporation.
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