Global Groundfish Market 2019-2023 | Growth of Online Market to Boost Growth | Technavio
April 15 2019 - 09:15AM
Business Wire
The global groundfish market is expected to post a CAGR close to
6% during the period 2019-2023, according to the latest market
research report by Technavio.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20190415005256/en/
Technavio has published a new market
research report on the global groundfish market from 2019-2023.
(Graphic: Business Wire)
A key factor driving the growth of the market is the rise in
sustainable fishing practices. Sustainable practices such as
land-based aquaculture, even though expensive, are practiced as it
eliminates many environmental concerns by confining fish to indoor
tanks inside facilities. This practice eliminates interactions
between the farmed fish and the external environment, thereby
increasing the quantity of fish production and improving fish
supply. Apart from sustainable practices, some vendors are also
coming out with products that carry MSC label in stores and
restaurants around the world to spread awareness about
environmental sustainability. In recent years, most of the
fisheries have gained MSC sustainability certification in several
countries. For instance, cod fisheries or suppliers are usually
given a blue MSC label, which signifies that the cod are
sustainable. Such initiatives and movements are expected to drive
the growth of the global groundfish market in the coming years.
As per Technavio, the growth of the online market will have a
positive impact on the market and contribute to its growth
significantly over the forecast period. This global groundfish
market 2019-2023 research report also analyzes other important
trends and market drivers that will affect market growth over
2019-2023.
Global groundfish market: Growth
of online market
Online and e-commerce channels have significantly pervaded the
global groundfish market. These platforms support both
business-to-business (B2B) and business-to-consumer (B2C)
operations. At a B2C level, vendors offer their products on their
websites or through established e-commerce sites. Major retailers
also offer home delivery or in-store pick up of groundfish
products. The growth of e-commerce can drive market growth in the
future. This is because of the rise in the number of customers
preferring to shop online and pay with credit or debit cards. This
trend has encouraged many vendors to target Internet-savvy
customers and venture into the growing online retail format.
Several vendors are also selling groundfish such as cod via
dedicated online channels to capture the rising e-retail
opportunity, thereby driving the growth of the overall global
market.
“Apart from the growth of the online market,
the growing awareness about health benefits of groundfish such as
cod is another major factor that is driving the growth of the
market. Groundfish species such as cod are rich in protein,
selenium, and phosphorus. The increasing demand for seafood
products from athletes and bodybuilders is another criterion that
can positively impact the market during the forecast period as they
are low-fat protein sources for muscle building. Cod also contains
omega-3 fatty acids, proteins, iron, and vitamin B12. These factors
make cod popular, thereby increasing the growth of the overall
global market,” says an analyst at Technavio.
Global groundfish market: Segmentation
analysis
This market research report segments the global groundfish
market by product (Alaska pollock, Blue whiting, Atlantic cod,
Hake, others) and geographical regions (APAC, Europe, MEA, North
America, and South America).
The European region led the market in 2018, followed by North
America, APAC, South America, and MEA respectively. However, during
the forecast period, the APAC region is expected to register the
highest incremental growth because of the rising demand for and the
growing awareness about cod liver oil in the region.
Looking for more information on this market? Request a
free sample report
Technavio’s sample reports are free of charge and contain
multiple sections of the report such as the market size and
forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and
advisory company. Their research and analysis focuses on emerging
market trends and provides actionable insights to help businesses
identify market opportunities and develop effective strategies to
optimize their market positions.
With over 500 specialized analysts, Technavio’s report library
consists of more than 10,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio’s comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
If you are interested in more information, please contact our
media team at media@technavio.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190415005256/en/
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
+1 844 364 1100UK: +44 203 893 3200www.technavio.com