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Global Groundfish Market: Overview

Groundfish contribute significantly to global food security, economic growth, export profits, employment, and livelihoods. The groundfish fishery is a critical step in ensuring the long-term economic viability of fisheries across the world. The industry is expected to rise considerably in the future years as people become more aware about the health benefits of consuming groundfish. Seafood products are in high demand globally due to their high protein, phosphorus, and selenium content. It serves as a vital source of low-fat protein for athletes and bodybuilders, thereby propelling global groundfish market forward.

This comprehensive analysis of the global groundfish market includes the primary vendors' effective business approaches. Because the groundfish industry is fragmented, providers are employing a variety of organic as well as inorganic expansion methods to stay competitive. Market players need to focus more on the growth possibilities in the rapidly growing sectors, whilst retaining their positions in the sluggish segments, to reap benefits from the possibilities and recover from the post-COVID-19 effect. The global groundfish market study delves deeper into major vendor profiles and provides information in great detail. The profiles provide information on the major firms' output, sustainability, and future prospects.

This study from Transparency Market Research (TMR) provides a complete insight of the global Groundfish Market. It provides well-researched data on a variety of market aspects in order to provide useful business input for profit generation.

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Global Groundfish Market: Notable Developments

The noted players that are operational in the global groundfish market are Global Seafoods North America LLC., Youngs Seafood Ltd., AS More Codfish Co., Greenland Seafood Europe GmbH, Nomad Foods Ltd., and High Liner Foods Inc.

Global Groundfish Market: Key Trends

Below-mentioned market trends and opportunities mark the global groundfish market:

High Nutrient Content Sea Fishes are Likely to Spell Growth for the Market

Protein-rich fishes such as Hake, Atlantic cod, Blue Whiting, Alaska Pollock, and many others have been popular amongst customers over the last few years. Alaska Pollock is chosen because of its rich vitamin B12, protein, selenium, and phosphorus content. Apart from its nutritional value, Alaska Pollock's minimal toxicity risk and low price are important factors in consumer preference.

Furthermore, mild taste, the meaty texture, and searing white flesh of the Atlantic codfish are well-known. Cod liver oil is made from codfish livers in the food processing sector. In the food processing business, codfish livers are utilized to produce cod liver oil. Due to customer preferences for big sizes, the industry is expected to gain substantial market share throughout the projected period.

According to our findings, there has been a positive influence on the market during and after the COVID-19 epoch. Although issues such as the risk of overfishing may hamper growth of the global Groundfish market, launch of new product are likely to propel the market forward. Our experts analyzed historical data to determine the major market drivers and the impact of the COVID-19 pandemic on the groundfish business.

This groundfish market study also includes details on key forthcoming trends and obstacles that will have a significant impact on market growth. Companies will be able to assess and build growth plans using the actionable information on trends and obstacles.

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Global Groundfish Market: Geographical Analysis

Europe is likely to account for a large chunk of the global Groundfish Market during the forecast period, from 2021 to 2031. The Netherlands, the UK, and Spain are Europe's top groundfish markets. The pace of market growth in Europe, on the other hand, is likely to be slower than in other areas.

This market research study includes extensive information on competition intelligence, marketing gaps, and geographical prospects for suppliers, all of which is likely to aid in the development of effective business plans.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Groundfish Market