The smoked fish market size is projected to reach a valuation of USD 5.1 billion by 2023, with expectations to grow to USD 8.0 billion by 2033, driven by an anticipated compound annual growth rate (CAGR) of 4.6% over the forecast period.
The growth of the smoked fish market during the forecast period is fueled by increased awareness of the health benefits of seafood and rising popularity in various cuisines. Smoked fish encompasses a variety of products such as smoked salmon, trout, herring, mackerel, and others.
Furthermore, evolving consumer preferences and a growing demand for convenient and healthy food options have contributed to the uptick in smoked fish demand. Rich in protein, omega-3 fatty acids, vitamins, and minerals, smoked fish aligns with the rising consumer preference for healthier food products, thereby accelerating market growth.
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Other factors expected to fuel the growth of the smoked fish market include an expanding working-class population, rising per capita income levels, and increasing popularity of prepared seafood products.
In North America, the smoked fish market is experiencing growth driven by rising demand for ready-to-eat seafood products. Increased consumption of smoked salmon in the USA and Canada is a significant contributor to market expansion in the region.
Europe is anticipated to lead the smoked fish market, supported by a dense network of convenience stores, hypermarkets, and supermarkets catering to consumer preferences for seafood.
Asia Pacific is poised to capture a substantial share of the smoked fish market and is projected to dominate in the coming years. This growth is attributed to shifting consumer lifestyles towards healthier options and rising demand for high-protein foods. Additionally, increasing adoption of seafood diets in countries like India and China further drives market expansion in the region.
Competitive Landscape
A notable advancement in the global smoked fish industry involves the adoption of innovative smoking methods to enhance consistency and flavor. In 2016, SNV Netherlands, in partnership with the Food and Agriculture Agency, introduced FTT-Thiaroye, a pioneering technology for smoking fish.
This technology enables industry stakeholders to produce innovative products that comply with stringent safety standards and streamline drying and smoking operations, 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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