The smoked fish market share is expected to increase by USD 4.51 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.9%. This smoked fish market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The smoked fish market report also offers information on several market vendors, including Acme Smoked Fish Corp., Foppen, Gottfried Friedrichs, Guyader Gastronomie, High Liner Foods Inc., Leroy, Maisadour, Marine Harvest, Tassal Group Ltd., and Thai Union Group PCL among others. Furthermore, this report extensively covers smoked fish market segmentation by product (smoked salmon, smoked mackerel, smoked herring, smoked trout, and others), type (hot smoked fish and cold smoked fish), and geography (Europe, North America, APAC, MEA, and South America).

What will the Smoked Fish Market Size be During the Forecast Period?

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Smoked Fish Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The rising demand for processed seafood is notably driving the smoked fish market growth, although factors such as distribution challenges may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the smoked fish industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Smoked Fish Market Driver

The rising demand for processed seafood is a major factor driving the global smoked fish market share growth. The popularity of processed seafood, such as smoked salmon, mackerel, whitefish, and haddock, has been increasing as these products do not need much preparation time. Rising disposable income and working-class population in APAC, Eastern Europe, Africa, and Latin America have led to an increased demand for RTE packaged processed seafood products because of their convenience. Additionally, the growing demand for seafood products in regions such as Western Europe and North America has increased the demand for processed products. The global smoked fish market has witnessed growth in demand and popularity in countries such as Germany, Portugal, Australia, France, the US, Nigeria, Italy, and Spain. The wide range of seafood available in ready-to-eat packaging format saves time as well as effort. Therefore, Technavio forecasts that the market will grow significantly.

Key Smoked Fish Market Trend

The online retailing is another factor supporting the global smoked fish market share growth. Online and e-commerce channels   both business-to-business (B2B) and business-to-consumer (B2C) operations. With the growth in e-commerce businessessupport globally, vendors have the potential to enhance their profitability. The average amount of money spent online per transaction and online transactions are increasing globally. The growing internet user base and the "buy it now" attitude of the users are contributing to the growth in the online retail channel. The increasing number of online shoppers globally is expected to improve the online sales of smoked fish products. Online shopping portals help consumers avoid the time-consuming journey to retail stores and billing queues. In addition to customer-friendly website designs offering enhanced product visibility, online shopping portals have incorporated enhanced security features for efficient customer service and safe payments. This trend is encouraging various manufacturers to concentrate on the internet-savvy consumer segment and explore the online retail format, thereby aiding in growth of the market. 

Key Smoked Fish Market Challenge

The distribution challenges will be a major obstacle for the global smoked fish market share growth during the forecast period. Retail stores, such as supermarkets, hypermarkets, convenience stores, and discount stores, are important distribution channels for manufacturers and vendors of smoked fish products. The manufacturers face challenges such as pressure regarding the prices and margins as retail stores operate at low profit margins and rising demand from retailers for frequent and small product deliveries to reduce warehousing costs. Additionally, increasing expectations from retailers to introduce innovative merchandising units such as movable shelves that can be rolled when fully stocked to reduce the replenishment cost of the store is another challenge. Retailers consider order fulfillment rate a key factor in developing a relationship with a manufacturer; they do not hesitate to shift to another manufacturer if the manufacturer is unable to supply a sufficient amount of goods for promotional initiatives and peak demand points. Moreover, consumer inclination toward convenience stores forcing manufacturers to manage categories by finding a suitable balance between price and volume will also hamper growth. Essentially, such obstacles will hinder the market share growth. 

This smoked fish market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global smoked fish market as part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smoked fish market during the forecast period.

Who are the Major Smoked Fish Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Acme Smoked Fish Corp.
• Foppen
• Gottfried Friedrichs
• Guyader Gastronomie
• High Liner Foods Inc.
• Leroy
• Maisadour
• Marine Harvest
• Tassal Group Ltd.
• Thai Union Group PCL

This statistical study of the smoked fish market encompasses successful business strategies deployed by the key vendors. The smoked fish market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Acme Smoked Fish Corp.- The company offers smoked fish.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The smoked fish market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Smoked Fish Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the smoked fish market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global packaged foods and meats market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Smoked Fish Market?

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56% of the market's growth will originate from Europe during the forecast period. Germany, France, UK, and Italy are the key markets for smoked fish market in Europe. Market growth in this region will be slower than the growth of the market in APAC, North America and South America.

The increasing number of convenience stores, supermarkets, hypermarkets, and discount stores offering smoked fish products will facilitate the smoked fish market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Smoked Fish Market?

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The smoked fish market share growth by the smoked salmon segment will be significant during the forecast period. The increasing number of organized retail outlets offering hot smoked fish and the rising demand for processed fish in major seafood markets globally are the major drivers for the growth of the global hot smoked fish market.

This report provides an accurate prediction of the contribution of all the segments to the growth of the smoked fish market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Smoked Fish Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive smoked fish market growth during the next five years
• Precise estimation of the smoked fish market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the smoked fish industry across Europe, North America, APAC, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of smoked fish market vendors

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