Fin Fish Market - Global Industry Analysis

Fin Fish Market By Type (Tropical Fin Fish and Others), By Environment (Fresh Water, Marine Water, and Brackish Water), and By Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2028

Published Date: 25-Mar-2022 Category: Food & Beverage Report Format : PDF Pages: 184 Report Code: ZMR-6979 Status : Published

The size of the global fin fish market is expected to become around USD 29.85 billion in 2028 from USD 20.48 billion in 2021 growing at the rate (CAGR) of 4.81%. This report discusses market research on the fin fish market, its market growth factors, and its challenges.

Description

The size of the global fin fish market is expected to become around USD 29.85 billion in 2028 from USD 20.48 billion in 2021 growing at the rate (CAGR) of 4.81%. This report discusses market research on the fin fish market, its market growth factors, and its challenges. The report also talks about the opportunities available to stakeholders and potential investors for the fin fish market, discussing the recent changes due to the pandemic.

Fin Fish Market: Overview

A fin fish falls under the aquaculture market which deals with farming, breeding, rearing, and harvesting of fishes, and other aquatic products such as plants and animals. Farming of aquatic species such as fin fish, carps, mollusks, crabs, and aquatic plants is known as fin fish farming or aqua farming. This farming method involves interventions in the raising phase to boost output, such as frequent stocking, feeding, and predator protection. Fin fish farming presently encompasses 580 species that are farmed all over the world, demonstrating a richness of genetic variation both within and between species. Fin fish farming is done in poor nations and by international corporations that own the stock being grown. Many people consider fish to be part of their cultural heritage, and it has a good nutritional profile. It's high in protein, omega-3 fatty acids, vitamins, and minerals.

COVID-19 Impact:

COVID-19 impacted the food supply chain negatively and increased the demand for fisheries. Consumers started to pay higher prices for fin fish, while some varieties such as tilapia and other catfish experience a dip in price. But on the other hand finfish producers are losing money. The intermediaries raised their selling rates to balance rising expenses and retain profitability. Producers lowered labor expenses by reducing the number of employees and their compensation to compensate for increased operational costs and lower income. However, this compensating method irritated rural working-class people and imposed significant socio-economic difficulties. Finally, consumer views about fish as a protein source have shifted as a result of economic challenges and a lack of support for processing fish caused by COVID regulations.

Global Fin Fish Market

Fin Fish Market: Growth Drivers

Growth of global population to drive the fin fish market

Global demand for fin fish is expected to increase by a whopping 50% due to the growing affluence and populations, to feed the increasing demand for food sources. The rise in food demands, as a result, will fuel fish farming. Government initiatives are also seen to support the fin fish market that in turn will drive the growth. 

Fin Fish Market: Restraints

Rise in global temperature to restrain the growth of fin fish market

As the global temperatures is rising, depletion is observed in the dissolved oxygen concentration in water bodies. Reduced oxygen causes mortality of fisheries. On the other hand, the metabolism rate also increases simultaneously, increasing the levels of carbon dioxide in the water bodies restricting the growth of the global fin fish market.

Fin Fish Market: Opportunities

Technological innovations in fishing equipment to bring up growth opportunities

Technological advancements are observed in fishing equipment as well as fin fish cultivation. Innovative developments are boosting the fin fish market. Genetic improvements in the fishing industry are providing fin fish varieties with high levels of protein and better nutrients. Parasitic diseases in fishes, which were once a concern can be controlled and prevented by using genetic modification, especially in the shellfish variety. These developments provide opportunities for the fin fish market.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Fin Fish Market: Challenges

Increase in water pollution affects the quality of fin fish production

When a substantial number of contaminants are introduced into any water body, it has an acute effect on the fin fish market, resulting in quick high-scale mortalities and degenerated fish quality. Pollutant discharge at low levels causes pollutants to accumulate in the body composition of fin fish species. Acute and chronic impacts of water pollution in fish species include immunological suppression, metabolic decrease, gill, and epithelial layer damage. The quality is affected due to fin rot, tail rot, gill disease, hepatic tissue damage, and ulceration that negatively affect the market.

Fin Fish Market: Segmentation Analysis

The global fin fish market is divided into tropical fin fish and others based on the type of fish. Pompano, snappers, groupers, salmon, milkfish, tuna, tilapia, catfish, sea bass, and other tropical fin fish are among them (carps, mackerels, sea bream, and trout). Due to an increase in the consumption of mollusks in food with high nutritional value, as well as an increase in the use of luxury pearls extracted by mollusks around the world, tropical fin fish was the leading segment in the global market in 2021.

The fin fish market is divided into three categories based on the environment: freshwater, marine water, and brackish water. Freshwater was the dominant segment in the worldwide fin fish market in 2021

Recent Developments

  • In 2019, Cermaq farming offered new True Arctic salmon, were using cold water reservoirs resulting in slow growth of salmon. This provides distinct product attributes since consumers are paying greater attention to the origin of the food.
  • In September 2019, Cooke Inc. acquired Invergordon fish feed mills, increasing salmon output making it one of the top producers of fin fish in the global market.

Fin Fish Market: Regional Landscape

Asia Pacific region is the current largest market in terms of fin fish. Mostly due to the high population, and cuisine culture that prioritized fisheries as a staple diet, this region is expected to stay dominant during the forecast period as well. North America has been observed to be an emerging market, given the rise of population and increased demand for food sources to feed the growing population.

Fin Fish Market: Competitive Landscape

Key players in the global fin fish market that are giving tough competition to newcomers are Cermaq Group AS, Marine Harvest ASA, Thai Union Group PLC, Tassal Group Limited, Alpha Group Ltd.,  Cooke Aquaculture, and Aquaculture Technologies Asia Limited.

The global fin fish market is segmented as follows:

By Type

  • Tropical
  • Others

By Environment

  • Fresh Water
  • Marine Water
  • Brackish Water

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

 

Table Of Content

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Fin Fish Market, (2022 - 2028) (USD Billion)
    • 2.2 Global Fin Fish Market : snapshot
  • Chapter 3. Global Fin Fish Market - Industry Analysis
    • 3.1 Fin Fish Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Growth of global population to drive fin fish market
    • 3.3 Market Restraints
      • 3.3.1. Rise in global temperature to restrain the growth of fin fish market
    • 3.4 Market Opportunities
      • 3.4.1. Technological innovations in fishing equipment to bring up growth opportunities
    • 3.5 Market Challenges
      • 3.5.1. Increase in water pollution affects the quality of fin fish production
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Environment
  • Chapter 4. Global Fin Fish Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Fin Fish Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Fin Fish Market - Type Analysis
    • 5.1 Global Fin Fish Market overview: By Type
      • 5.1.1 Global Fin Fish Market share, By Type, 2021 and 2028
    • 5.2 Tropical
      • 5.2.1 Global Fin Fish Market by Tropical, 2022 - 2028 (USD Billion)
    • 5.3 Others
      • 5.3.1 Global Fin Fish Market by Others, 2022 - 2028 (USD Billion)
  • Chapter 6. Global Fin Fish Market - Environment Analysis
    • 6.1 Global Fin Fish Market overview: By Environment
      • 6.1.1 Global Fin Fish Market share, By Environment, 2021 and 2028
    • 6.2 Fresh Water
      • 6.2.1 Global Fin Fish Market by Fresh Water, 2022 - 2028 (USD Billion)
    • 6.3 Marine Water
      • 6.3.1 Global Fin Fish Market by Marine Water, 2022 - 2028 (USD Billion)
    • 6.4 Brackish Water
      • 6.4.1 Global Fin Fish Market by Brackish Water, 2022 - 2028 (USD Billion)
  • Chapter 7. Fin Fish Market - Regional Analysis
    • 7.1 Global Fin Fish Market Regional Overview
    • 7.2 Global Fin Fish Market Share, by Region, 2021 & 2028 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Fin Fish Market, 2022 - 2028 (USD Billion)
        • 7.3.1.1 North America Fin Fish Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 North America Fin Fish Market, by Type, 2022 - 2028
      • 7.4.1 North America Fin Fish Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 North America Fin Fish Market, by Environment, 2022 - 2028
      • 7.5.1 North America Fin Fish Market, by Environment, 2022 - 2028 (USD Billion)
    • 7.4. Europe
      • 7.4.2 Europe Fin Fish Market, 2022 - 2028 (USD Billion)
        • 7.4.2.1 Europe Fin Fish Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Europe Fin Fish Market, by Type, 2022 - 2028
      • 7.4.1 Europe Fin Fish Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 Europe Fin Fish Market, by Environment, 2022 - 2028
      • 7.5.1 Europe Fin Fish Market, by Environment, 2022 - 2028 (USD Billion)
    • 7.5. Asia Pacific
      • 7.5.3 Asia Pacific Fin Fish Market, 2022 - 2028 (USD Billion)
        • 7.5.3.1 Asia Pacific Fin Fish Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Asia Pacific Fin Fish Market, by Type, 2022 - 2028
      • 7.4.1 Asia Pacific Fin Fish Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 Asia Pacific Fin Fish Market, by Environment, 2022 - 2028
      • 7.5.1 Asia Pacific Fin Fish Market, by Environment, 2022 - 2028 (USD Billion)
    • 7.6. Latin America
      • 7.6.4 Latin America Fin Fish Market, 2022 - 2028 (USD Billion)
        • 7.6.4.1 Latin America Fin Fish Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Latin America Fin Fish Market, by Type, 2022 - 2028
      • 7.4.1 Latin America Fin Fish Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 Latin America Fin Fish Market, by Environment, 2022 - 2028
      • 7.5.1 Latin America Fin Fish Market, by Environment, 2022 - 2028 (USD Billion)
    • 7.7. The Middle-East and Africa
      • 7.7.5 The Middle-East and Africa Fin Fish Market, 2022 - 2028 (USD Billion)
        • 7.7.5.1 The Middle-East and Africa Fin Fish Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 The Middle-East and Africa Fin Fish Market, by Type, 2022 - 2028
      • 7.4.1 The Middle-East and Africa Fin Fish Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 The Middle-East and Africa Fin Fish Market, by Environment, 2022 - 2028
      • 7.5.1 The Middle-East and Africa Fin Fish Market, by Environment, 2022 - 2028 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 Cermaq Group AS
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Marine Harvest ASA
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Thai Union Group PLC
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Tassal Group Limited
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Alpha Group Ltd.
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Cooke Aquaculture
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Aquaculture Technologies Asia Limited.
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments

Table Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Fin Fish Market, 2022 - 2028 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Fin Fish Market attractiveness, By Type
  • 6. Global Fin Fish Market attractiveness, By Environment
  • 7. Global Fin Fish Market share by Type, 2022 and 2028 (USD Billion)
  • 8. Global Fin Fish Market by Tropical, 2022 - 2028 (USD Billion)
  • 9. Global Fin Fish Market by Others, 2022 - 2028 (USD Billion)
  • 10. Global Fin Fish Market share by Environment, 2022 and 2028 (USD Billion)
  • 11. Global Fin Fish Market by Fresh Water, 2022 - 2028 (USD Billion)
  • 12. Global Fin Fish Market by Marine Water, 2022 - 2028 (USD Billion)
  • 13. Global Fin Fish Market by Brackish Water, 2022 - 2028 (USD Billion)
  • 14. Global Fin Fish Market share, by Region, 2022 and 2028
  • 15. North America Fin Fish Market, 2022 - 2028 (USD Billion)
  • 16. Europe Fin Fish Market, 2022 - 2028 (USD Billion)
  • 17. Asia Pacific Fin Fish Market, 2022 - 2028 (USD Billion)
  • 18. Latin America Fin Fish Market, 2022 - 2028 (USD Billion)
  • 19. The Middle-East and Africa Fin Fish Market, 2022 - 2028 (USD Billion)

Table Of Tables

  • 1. Global Fin Fish Market: Snapshot
  • 2. Drivers of the Fin Fish Market: impact analysis
  • 3. North America Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 4. North America Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 5. U.S. Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 6. U.S. Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 7. Canada Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 8. Canada Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 9. Europe Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 10. Europe Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 11. Germany Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 12. Germany Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 13. France Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 14. France Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 15. U.K. Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 16. U.K. Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 17. Italy Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 18. Italy Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 19. Spain Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 20. Spain Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 21. Rest of Europe Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 22. Rest of Europe Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 23. Asia Pacific Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 24. Asia Pacific Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 25. China Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 26. China Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 27. Japan Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 28. Japan Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 29. India Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 30. India Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 31. South Korea Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 32. South Korea Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 33. South-East Asia Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 34. South-East Asia Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 35. Rest of Asia Pacific Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 36. Rest of Asia Pacific Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 37. Latin America Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 38. Latin America Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 39. Brazil Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 40. Brazil Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 41. Mexico Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 42. Mexico Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 43. Rest of Latin America Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 44. Rest of Latin America Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 45. The Middle-East and Africa Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 46. The Middle-East and Africa Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 47. GCC Countries Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 48. GCC Countries Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 49. South Africa Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 50. South Africa Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)
  • 51. Rest of Middle-East Africa Fin Fish Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 52. Rest of Middle-East Africa Fin Fish Market revenue, By Environment, 2022 - 2028 (USD Billion)

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FrequentlyAsked Questions

Global demand for fin fish is expected to increase by a whopping 50% due to the growing affluence and populations, to feed the increasing demand for food sources. The rise in food demands, as a result, will fuel fish farming. Government initiatives are also seen to support the fin fish market that in turn will drive the growth.

 

According to the report by Zion Market Research, the size of the global fin fish market is expected to become around USD 29.85 billion in 2028 growing at the rate (CAGR) of 4.81% during the forecast period.

Asia Pacific region is the current largest market in terms of fin fish. Mostly due to the high population, and cuisine culture that prioritized fisheries as a staple diet, this region is expected to stay dominant during the forecast period as well

Key players in the global fin fish market that are giving tough competition to newcomers are Cermaq Group AS, Marine Harvest ASA, Thai Union Group PLC, Tassal Group Limited, Alpha Group Ltd.,  Cooke Aquaculture, and Aquaculture Technologies Asia Limited.

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