The new report by Expert Market Research titled, ‘Global Herring Market Share, Size, Report, Forecast 2023-2028’, gives an in-depth analysis of the Global Herring Market, assessing the market based on its segments like type and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 3%
As part of their development strategies for adult health and child development, developing and impoverished countries are taking such steps. Concerns about food security and climate change have driven the fishing industry to develop more environmentally friendly methods of fishing. The Marine Stewardship Council (MSC) also issues a blue MSC tag to herring items that have been certified for conservation. To reduce bycatches in the pelagic fishing business, regulatory organisations are enacting rigorous regulations.
One of the important herring market trends that will fuel herring market growth in the coming years will be the adoption of sustainable fishing practises by participants in the socially responsible fish value chain, such as governments, politicians, industry groups, and regulatory authorities.
Herring Industry Definition and Major Segments
The herring is a tiny silvery fish that is prevalent in coastal areas and has a vast commercial significance.
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The herring market can be divided based on type into:
- Atlantic Herring
- Pacific Herring
The global regions for herring market include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Herring Market Trends
The high perishability of herring and rising demand for fish in non-coastal locations have increased the value of processed fish in the global market. The increased demand for processed fish is predicted to improve the herring market by reducing loss due to rotting and allowing for the widespread distribution of fish species around the world through the export of processed fish.
Market sellers are progressively automating their processing facilities to handle enormous quantities of pelagic fish, such as herring. Vacuum bags containing brine based on seawater are used to pack processed herring seafood. To maintain a long shelf life and good level of performance, such products are kept at the proper temperature. Consumers are becoming more interested in cured herring fish, which is helping the herring business flourish. The rising demand for processed fish will thus be a major element in the herring market’s growth over the predicted period.
Key Market Players
The major players in the market are Barry Group Inc., Cornelis Vrolijk, Iceland Seafood International hf, Maruha Nichiro Corp. (TYO: 1333), Nergård AS and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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