Increased Health Consciousness During the COVID-19 Pandemic Is Expected to Bolster the Demand for Atlantic Pollock | Fact.MR Report

According to Fact.MR, In recent years, rapid expansion of the foodservice industry across the globe has been significantly contributing to the increased demand for wild pollock.

Globally, wild pollock is amongst the top ten, most consumed fish, and it has continued to witness a healthy demand from consumers as a high-protein, low-cholesterol fish variant. Wild pollock has gained significant traction among consumers as an affordable alternative to cod fish. Brimming with potential, demand for  wild pollock market is projected to grow at a CAGR of 6% as revealed by Fact.MR. This growth is backed by rigorous initiatives by GAPP (Genuine Alaska Pollock Producers) organization for marketing wild pollock thus increasing its market share in the global cod fish market. Within the supply chain, tier-1 players have also ventured into the production of several ready-to-eat products containing wild pollock as an ingredient.

“The global wild pollock market is witnessing significant volatility in prices due to the trade war between United States and China. While Russian companies are banking upon low cost, their U.S. counterparts are highlighting MSC certification as their key value proposition.”, -says the Fact.MR analyst

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Key Takeaways from the Wild Pollock Market

• Together North America and Europe have grabbed more than 2/3rd of the market share and consumption in these regions is growing at a higher pace as compared to other regions.
• Vertical integration is the key strategy of manufacturers for gaining more control over  supply chain and reducing production costs
• Over the last three years, the government in Russia has pioneered investments in fleet renewal and has also allocated a fishing quota for new vessels, thereby increasing the wild pollock supply capacity of Russian companies
• Russia is supplying wild pollock to a majority of European countries at a significantly low cost, thereby offering  strong competition to North American suppliers
• Leading wild pollock harvesting companies are focused on increasing their harvesting quota and controlling primary processing as part of the value chain at a relatively low cost
• Mergers and acquisitions have been observed in the recent past among European companies, especially for increasing business and vessel fleet renewal

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Europe to Witness Two Fold Growth as Russian Companies Introduce Innovative Variants

Europe is leading the wild pollock market in terms of demand and production. Wild pollock demand in Europe is projected to grow 2X over the forecast period. Russian players are investing in building shore-side processing plants for converting whole fish to other variants such as fillets, surimi, and minced fish. This will help to fulfill the increasing demand from China.

North American manufacturers are conducting consumer surveys with GAPP for understanding target consumers and preference for wild pollock. The wild pollock market in Latin America is in its growth phase and is anticipated to create lucrative opportunities for manufacturers. Being both a production and a consumption cluster, East Asia is expected to witness moderate growth over the forecast period, where countries including Vietnam and Thailand largely influence demand.

Find More Valuable Insights on the Wild Pollock Market

Fact.MR, in its new offering, brings to fore an unbiased analysis of the global wild pollock market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the wild pollock market on the basis of form species (alaska pollock and atlantic pollock), form (fresh, frozen and canned), end use industry (household (retail), food services (HORECA), and pharmaceutical & nutraceutical industry), and distribution channels (business to business and business to consumer) across six major regions.

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Wild Pollock Market: Key Segmentation

Fact.MR has studied the wild pollock market with detailed segmentation on the basis of species, form, end-use industry, distribution channel, and key regions.

Species

• Alaska Pollock
• Atlantic Pollock

Form

• Fresh
• Whole
• Fillet
• Frozen
• Whole
• Fillet
• Canned

End-use Industry

• Household(Retail)
• Foodservice (HORECA)
• Pharmaceutical & Nutraceutical Industry

Distribution Channel

• Business to Business
• Business to Customer
• Grocery Stores
• Hypermarket/ Supermarket
• Online Sales Channel

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Regions

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• Middle East & Africa

Prominent Players

• American Seafoods
• Artric Strom Ltd.
• C/P Northern Hawk Ltd.
• Trident Seafood
• Pacific Andes
• Beaver Street Fisheries (Sea Best brand)
• Glacier Fish Company
• Glacialis
• Gidrostroy

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