The smoked fish market is projected to reach a valuation of USD 5.1 billion in 2023 and is expected to grow to USD 8.0 billion by 2033, reflecting a compound annual growth rate (CAGR) of 4.6% throughout the forecast period.
Rising awareness of seafood’s health benefits and the increasing popularity of smoked fish across various cuisines are driving the growth of the smoked fish market throughout the forecast period. This market encompasses a diverse array of products, including smoked salmon, trout, herring, mackerel, and other fish varieties.
Additionally, shifting consumer preferences and the growing demand for convenient and nutritious food options are boosting the popularity of smoked fish. Known for its high protein content, omega-3 fatty acids, vitamins, and minerals, smoked fish is increasingly favored as a healthy food choice, further accelerating market growth.
Several factors are anticipated to drive the growth of the smoked fish market, including an increase in the working-class population, rising per capita income, and the growing popularity of prepared seafood products.
In North America, the market is expanding due to heightened demand for ready-to-eat seafood items, with the consumption of smoked salmon surging in both the USA and Canada.
Europe is expected to capture the largest share of the smoked fish market, bolstered by a high concentration of convenience stores, hypermarkets, and supermarkets.
The Asia Pacific region is projected to hold a significant share and lead the market in the coming years. This growth is driven by changing consumer preferences towards healthier lifestyles and a rising demand for high-protein foods. Additionally, the expanding consumer base for seafood in developing countries like India and China is contributing to the market’s dominance in the region.
Competitive Landscape
A significant advancement in the global smoked fish industry is the adoption of innovative smoking techniques aimed at enhancing consistency and flavor. In 2016, SNV Netherlands, in partnership with the Food and Agriculture Agency, introduced FTT-Thiaroye, a groundbreaking technology for smoking fish.
This new technology allows industry players to create innovative products that meet modern safety standards while optimizing drying and smoking processes regardless of weather conditions.
Some of the leading manufacturers and suppliers of smoked fish are-
- Kraft Heinz
- Unilever
- Leroy Seafood Group
- Marine Harvest
- 2 Sisters Food Group
- General Mills
- Nestle
- Epermarket
- The Hain Celestial Group
- Conagra Foods
- Others.
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Key Segmentation of Smoked Fish Market
By Product:
- Smoked salmon
- Smoked mackerel
- Smoked herring
- Smoked trout
- Other smoked fish
By Method:
- Hot smoked fish
- Cold smoked fish
By Region:
- North America
- USA & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
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