The global smoked fish market was valued at USD 17 billion in 2016 and is expected to surpass USD 21 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global smoked fish market, under its food portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like High Liner Foods, Lerøy Seafood, MARINE HARVEST, and Thai Union Group.
According to Sharan Raj, a lead analyst for food research at Technavio, “The demand for processed seafood is on the rise on a global scale. The rise in the demand can be attributable to the need for convenience. The demand for processed seafood is especially high in developing countries such as Poland, Hungary, and Turkey.”
Processed seafood products help consumers to save time and energy, and they can use the extra time to perform other activities such as recreation activities, spending more time with family, and business activities. Time-strapped consumers prefer processed seafood as it helps cut down on cooking time, without compromising on health and nutrition.
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Growth prospects in e-commerce
Customers prefer to shop online and pay for their orders using their credit/debit cards, which, in turn, helps them avoid time-consuming journeys and billing queues. This trend is encouraging various fish and seafood vendors to focus on the internet-savvy customer segment and venture into the new online retail format. Such a business model also helps vendors save on the operating costs and overheads.
New packaging for smoked fish
The introduction of new packaging for smoked fish products by different players in the market is a trend that is propelling the growth of the global smoked fish market. Players in the market are introducing new packaging for their products, which will help attract the attention of the consumers and will help increase the shelf life of the products. In December 2016, Marine Harvest launched new packaging for its smoked salmon in Spain; the new packaging highlights the Norwegian provenience of the product. The new packaging has been launched for the brand Olva’s in the Spanish market.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Smoked Fish Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Kefir Products Market 2017-2021
- Global Soy-based Yogurt Market 2017-2021
- Global High-Fiber Biscuit Market 2017-2021
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