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Market Introduction:

Whitefish is a commercial fisheries term which is used to denote various edible fish species that possess pure white meat. The whitefish differs from oily fish as it possess oils only in liver while oily fishes also possess oil in gut as well. Whitefish includes various species such as Tilapia, Catfish, Haddock, Cod, Seabass and others which are used in preparing variety of dishes and salads. Asia accounts for approximately 87% of the global production of freshwater whitefish owing to China’s largest contribution in world production. Owing to increasing awareness of health benefits of fishes and taste developed for whitefishes among individuals across the globe is expected to increase the demand for whitefish over the forecast period. Owing to relatively longer shelf life of whitefish species than that of oily fishes, the whitefish market is expected to expand with relatively high CAGR over the forecast period.

Owing to increasing demand for seafood domestically as well as globally, the producers finds a robust opportunity of growth of whitefish market over the forecast period.

Whitefish Market: Segmentation

Whitefish market is segmented on the basis of species, product type, sales channel and region.

On the basis of species, whitefish market is segmented into Tilapia, Catfish, Haddock, Cod, Seabass and others. Tilapia, Cod and Seabass collectively holds the relatively high share and expected to dominate the market over the forecast period.

Whitefish market is segmented on the basis of product type into fresh and processed. The processed segment is further sub-segmented into frozen, canned, smoked and others. The smoked whitefish is exclusively used for salads and dressings.

Whitefish market is further segmented on the basis of sales channel into direct sales and retail sales. Retail sales is further sub-segmented into modern trade, convenience stores, specialty outlets, modern grocery stores, online retailing and other retailing formats. Modern trade segment is expected to exhibit relatively high value CAGR over the forecast period.

Whitefish market: Drivers, Restraints, and Trends

Increasing health consciousness and developing interest for seafood and whitefish among individuals across the globe is expected to drive the growth of whitefish market across the globe. Whitefish possess multiple vitamins, proteins as well as essential fatty acids, owing to which it is preferred by individuals. Whitefish also possess low content of fat and oils which are mainly concentrated in the liver, hence it is an excellent option for individuals looking for healthy food. Millennial demographic of the world is increasingly inclined towards natural source of proteins and snacks which are clean label, which is a factor driving growth of whitefish market. Increasing use of whitefish in salads, stews etc. is also expected to boost the sales of whitefish over the forecast period. Because of all these factors, people are preferring to consume whitefish, which is driving growth of the whitefish market and this is expected to continue over the forecast period.

On the other side, climatic conditions could possibly affect the production of whitefish, hence could be considered as a restraint, impeding the market’s trajectory over the forecast period and affecting the growth of whitefish market.

Whitefish Market: Regional Outlook

On the basis of region, Whitefish market is segmented into five different regions: North America, Latin America, Europe, Asia Pacific and MEA. Among these regions, Asia-Pacific Whitefish market is expected to dominate with relatively high value and volume share. China holds relatively high value share of whitefish market among the Asia-Pacific as well as global whitefish market. Europe and the U.S. is also expected to have the significant value share of whitefish market, as both of these regions accounts for significant consumption of whitefish. The Latin America whitefish market is expected to grow significantly over the forecast period. The MEA whitefish market is also expected to increase with substantial value CAGR over the forecast period.

Whitefish Market: Key Players

Some of the key players in Whitefish market are Selonda Aquaculture S.A., Amacore B.V., Leroy Seafood, American Seafoods Group, Belardi Food Trading, Vinh hoan, Bien dong seafood, Navico, Hung Vuong Corp, Seafood Denmark, Scanfish Danmark A/s, Marine Foods (NZ) Ltd and others.

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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Whitefish Market

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