LeapZipBlog: Steve Blade's blog: Wild Pollock Market to register a healthy CAGR for the forecast period 2018 2028

Wild Pollock Market to register a healthy CAGR for the forecast period 2018 2028

October 16, 2019 by Steve Blade  

Amid the growing rigorous competition in wild Pollock market, stakeholders have shifted their focus towards deploying various growth strategies to gain an extra edge in the market. Growing favorable funding by organizations and associations backed by rising fish prices continue to help several companies in Wild Pollock Market to expand their business growth. For instance, the US-based GAPP (Association of Genuine Alaska Pollock Producers) has provided funding to True North Seafood and Trident Seafoods brands for projects focused on promoting new wild Alaska Pollock products. Unique marketing strategies coupled with the growing awareness about the benefits of eating fish continues to fuel growth in the wild Pollock market.

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The competition in wild Pollock market is likely to grow further, with leading players creating awareness about the health benefits of eating rich in heart-healthy omega 3 fatty acid, wild Pollock fish. Furthermore, growing consumer traction for healthy, organic, and protein-rich eatables is adding considerably to the growth in wild Pollock market.

Fishery of wild Pollock is landed in specific months which has been impeding the growth in the market during off seasons. However, companies are increasingly investing in frozen wild Pollock products to keep their sales flowing during the off seasons. Consumption of frozen wild Pollock products continues to grow on the back of the growing trend of ready-to-cook and ready-to-eat foods.

Wild Pollock Market Overview

The wild Pollock or walleye Pollock is a marine fish species of the cod family Gadidae whose scientific name is Gadus Chalcogrammus. Wild Pollock has been a standard choice for a white, mild and flaky fish. Wild Pollock is one of the major groundfish resources of the world, and by far the most important groundfish species harvested in the North Pacific. Originally marketed as a less expensive alternative to cod and haddock, this abundant fish now has a well-established market and is the world’s most consumed whitefish.

Wild Pollock is a mild-flavored white fish with a delicate and flaky texture. Due to its adaptability, wild Pollock is consumed in a variety of forms that includes fresh and frozen fillets, fish sticks and other breaded and battered fish products, and “surimi” products. Surimi is a stable frozen intermediate ingredient that is used to produce traditional Japanese “kamaboko” products that are formulated to imitate crab, shrimp and scallop meat. Wild Pollock has consistently been one of the top five seafood species consumed in the U.S. All Pollock is wild-caught in the ocean. There is no commercial aquaculture for this species.

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Wild Pollock Market Dynamics

The key driving factor for wild Pollock market is the growing demand for whitefish. Moreover, a considerable rise in the consumption of seafood will create a significant opportunity for the global wild Pollock market over the forecast period. Pollock is low in saturated fat and is an excellent source of protein, vitamin B12, phosphorus, and selenium, which will likely boost the consumption of wild Pollock as a healthy food. The significant increase in sales of wild Pollock owing to the rise in consumer preference regarding healthy food in developed & in developing economies is highly anticipated to drive the global wild Pollock market. Also, wild Pollock is preferred by the athlete & sportsperson as wild Pollock is a rich source of protein. Demand for wild Pollock rises as it contains heart-healthy omega 3 fatty acid which is likely to boost the global market for wild Pollock.

Pollock fish is only caught in the ocean as a wild fishery, and there is no commercial aquaculture for this species, which will hinder the growth of wild Pollock market. Fishery of wild Pollock is landed from January to March in the season A and June to October in the season B, which will affect the growth of wild Pollock market during off seasons.

Wild Pollock market Segmentation

Global wild Pollock market is segmented on the basis of product type, end users type & their sales channel. On the basis of the product type, wild Pollock is segmented as fresh whole, fresh fillets, frozen whole, frozen fillets & others. On the basis of end users, the global market for wild Pollock is segmented as household & commercial. On the basis of sales channel, wild Pollock is segmented as direct & indirect sales. Indirect sales in further segmented as modern stores such as hypermarket/supermarket and convenience stores, specialty food stores, E-commerce & others.

Wild Pollock Market Regional Overview

Global seafood production continues to grow at a faster rate than the world population, driven by increased aquaculture production. Total global production of seafood increased by 74% from 97.3 million metric tons (MT) in 1990 to 169.2 million MT in 2015. The growth in total supply was driven by increased aquaculture production. Aquaculture grew at an average annual rate of 7.4% from 13.1 million MT in 1990 to 76.6 million MT in 2015.

The global market for wild Pollock is divided on the basis of regions into North America, Latin America, Europe, CIS 7 Russia, Japan, APEJ (the Asia Pacific excluding Japan) & MEA (the Middle East & Africa). Out of which, North America dominates in global wild Pollock market & hold a significant market share. The Alaska Pollock fishery is the largest food fish fishery in the United States and has a worldwide distribution of a wide range of products. Europe is the second largest consumer of wild Pollock, which creates significant opportunities for the wild Pollock in European countries. APEJ is anticipated to witness a high growth in the global wild Pollock market owing to its growing economy & the highest population base, which is likely to spend more amount of money on healthy seafood. MEA also witness positive outlook for wild Pollock as the demand for wild Pollock raises in the last few years, which is likely to gain traction in the growth of global wild Pollock market in the forecast period.

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