Allied Market Research

2024

Herring Market

Herring Market Size, Share, Competitive Landscape and Trend Analysis Report, by Food type, by End Use and, by Type : Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: | Roshan Deshmukh
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The global food sector is growing at a rapid pace, thanks to rising consumer health awareness and the development of nutritious foods that are more focused on health advantages. Herring is one of the world's most prevalent fish species. Herring is a Clupeidae family forage fish with a tiny head and streamlined body. Because they are linked with the Pacific and Atlantic Oceans, these herring are sometimes known as Pacific or Atlantic herring. Herring offers a number of health benefits and is consumed as a nutrient-dense food. Herring has low mercury content, making it a safe fish to consume. Vitamin D, Vitamin B12, omega-3 fatty acids, and other vitamins and minerals can be found in herring. These nutrients work together to keep tissues functioning properly, aid in the creation of red blood cells, and promote strong bones, among other things. Herring contains a significant amount of omega-3 fatty acids, which reduces the risk of heart disease and promotes eye and brain health. Herrings are preserved in a variety of ways, including smoking, pickling, and salting. The majority of herrings are caught in the Pacific Ocean and utilized to make fish oil and meal.

 

COVID-19 Impact Analysis

  • With the spread of COVID-19, rich and developing countries have had to put their economies on hold.
  • This economic downturn has had a significant impact on the market's advancement in terms of its impact on the global food system, which includes the fisheries sector as well as its distribution and consumption interrelationships with political, social, and environmental elements.
  • High-value commodities, particularly perishables like fish, are likely to be hit hard, resulting in significant food waste. However, the industry is fast growing due to the rising popularity of fish intake for its health advantages, protein, and mineral supplies.

Top Impacting Factors

  • Consumers' increasing health concern has increased herring intake, resulting in increased demand for herring.
  • Consumer demand for herring is currently increasing as a result of various nutritional benefits. These variables are predicted to have a significant impact on the worldwide herring market's future.
  • Furthermore, demand for herring will rise in the coming years as a result of an increase in the use of pickled or smoked herring.

Market Trends

The Market is Being Boosted by the Emergence of Online Fish Markets

With the rise of e-grocery and the introduction of new cost-effective freezing technology, the e-commerce fish business has been steadily growing. A growing number of consumers around the world want to buy fish without having to go to a crowded fish market and instead do so from the comfort of their own home. This group of customers is a valuable market that online fish dealers are aggressively pursuing. E-commerce represented between 3.0 percent and 4.0 percent of global food sales in 2018, led by growth in grocery delivery services such as AmazonFresh and Walmart togo, although this percentage is expected to expand dramatically in the future years.

Manufacturers of herring fish throughout the world may progressively benefit from the internet market and access a wider audience, which will enhance the market in the forecast period. Companies in the Herring industry are making steps to increase market share by emphasizing their USP statements, producing appealing product packaging, delivering a varied product portfolio, and presenting items on internet platforms, to name a few major winning methods.

Europe has a Stronghold on the Global Market

The herring market is predicted to be dominated by Europe, followed by North America. Because of the increased presence of herring in Europe, the market in that region is likely to rise faster. The demand for pickled and smoked herring is expanding in North America and Europe, which offers health benefits and is predicted to contribute to the expansion of the herring industry. Europe is the world's largest consumer of herring fish. Herring fish is increasingly captured and consumed in Europe, where it has been considered a staple fish for over 2000 years, due to its abundance in the North Atlantic, Baltic, and North Sea.

Herring, in addition to being affordable, is a good source of omega 3 fatty acids, and it has become a favorite fish in both rich and poor European families due to its relative simplicity of production and prolonged shelf life attained through pickling and marination. The herring fish markets in Europe are dominated by the Netherlands, Denmark, Sweden, and Germany. Surstomming, a delicacy in northern Swedish cuisine, is made from Baltic herring that has been fermented. Overall, the market in this region is well-established and will continue to grow steadily over the projection period.

Key Benefits of the Report

  • This study presents the analytical depiction of the Herring industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Herring Marketshare.
  • The current market is quantitatively analyzed to highlight the Herring Marketgrowth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed Herring Marketanalysis based on competitive intensity and how the competition will take shape in coming years

Questions Answered in the Herring Market Research Report

  • Which are the leading players active in the Herring Market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
  • What is Herring Marketprediction in the future?
  • Which will be the niches at which players profiling with recent advancements should set a presence?
  • What are the driving factors and opportunities in the market?
  • What are the current trends and predicted trends?
  • What are the challenges faced in the Herring Market?

Herring Market Report Highlights

Aspects Details
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By Food type
  • Pickled Herring
  • Smoked Herring
  • Others
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By End Use
  • Residential
  • Restaurants
  • Others
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By Type
  • Atlantic Herring
  • Pacific Herring
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Spain, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

Nergård AS, Barry Group Inc., Botsford Fisheries, Maruha Nichiro Corp., Iceland Seafood International hf, Gold Star, Zila Laguna, TSIALIOS, Cornelis Vrolijk

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Herring Market

Global Opportunity Analysis and Industry Forecast, 2023-2032