Global Wild Pollock Market - 2022-2029

Global Wild Pollock Market - 2022-2029

Market Overview

Wild Pollock Market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of YY% during the forecast period (2022-2029).

Wild pollock are fish found in Pacific and Atlantic Ocean waters. Wild Pollock is harvested from the rich and pristine waters of Alaska’s Bering Sea. Wild Pollock is a flaky textured mild-flavored white fish. Pollock can’t be grown artificially on the farm. This fish lives in the cold water at 200 to 300 meters. It begins to feed on larger prey, namely small fish and squid. Due to the marine diet this fish has high nutritional values. It is consumed in various forms due to its availability in fresh whole and frozen whole, fish sticks, fresh fillets, frozen fillets, and surimi products. Wild Alaska Pollock is low-fat, protein-rich, heart-healthy, high in vitamin B-12 and loaded with omega 3 fatty acids. Pollock fish is widely used in fish tacos and fish sandwiches. It has a mild taste, firm and non-fishy.

Market Dynamics: Rising health benefits and increasing awareness regarding consumption of wild pollock

Wild Pollock is a moderate source of vitamins, fatty acids, proteins, minerals and fat-soluble vitamins like A, D and E. It is less oily than other varieties of fish and therefore low in calories and saturated fats. It has flaky white meat that is a rich source of amino acids. Daily consumption of wild pollock helps decrease the risk of heart attack, stroke, obesity and hypertension. Wild pollock contains a low amount of saturated fat and is high in polyunsaturated fat, including omega-3 fatty acids. Its liver carries ample omega-3s such as ALA, DHA, and DPA to help keep hair, mucosa, and skin healthy. DHA plays an important role in developing the nervous system, especially in infants and children. Fatty acids in the wild pollock play an important role in decreasing blood pressure and heart rate and also help to improve cardiovascular function in the body. Wild pollock has B-complex vitamins such as niacin and pyridoxine. Wild pollock is also a good source of Vitamin E, B12, thiamin and riboflavin. It is a natural source of minerals like iodine, calcium, zinc, potassium, phosphorus, and magnesium. Iodine is an important trace element in nutrition for thyroid hormone synthesis. Vitamin B12 helps in cell production in both skin and hair cells. Wild Pollock has a good amount of phosphorous, which helps to balance hormonal, emotional and neurological responses. All these health benefits drive the growth of the wild pollock market.

Market Segmentation: Frozen whole pollock segment accounted for the highest share in global wild pollock market

In 2021, the frozen whole pollock segment had the highest revenue share of more than XX percent. Frozen wild Pollock have a shelf life of more than 3 months. Frozen wild Pollock’s are easy to store and transport. They can be stored for the off-season also. They have high nutritional value and high in protein and complete 40% of the daily protein requirement at a low cost. They are rich in omega-3 fatty acids, selenium and phosphorous, which are great for brain function. It is a rich source of Vitamin B and is good for hair and skin, reducing allergy response to everyday irritants.

Fresh fillets segment is expected to hold a significant market revenue share of XX% in the year 2021. Fresh fillets are very popular in various recipes. Larger bones of the fish are removed. The skin on one side may or may not be stripped from the fillet. Fish fillets can be contrasted with fish steaks, which are cut perpendicular to the spine and include the larger bones.

Geographical Penetration: North America is the dominating region during the forecast period

In 2021, North America had the highest revenue share of almost XX percent. Consumers increased demand for wild Pollock increases the sales of wild Pollock in the U.S. and Canada. Americans are increasingly looking for consumption of wild Pollock, with a record of 61 % of wild pollocks being consumed by the U.S. in 2020. Ten million consumers in the U.S. knows the health benefits of the consumption of wild Pollock. Also, increased demand for wild Pollock in hotels in the U.S. increases the sales of wild Pollock. Increasing exports of wild Pollock helps to increase the market share.

Competitive Landscape

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Several manufacturers and suppliers are working on logistic development and distribution channel enhancement to strengthen their position. Some of the major market players are NOAA Fisheries, Marine Stewardship Council, Maruha Nichiro, Laco AS, Trident Seafood, and Pacific Andes, among others. Some key players go through merger and acquisition strategies to increase the company's sales. In December 2021, Trident Seafoods, a powerful North Pacific fishing industry force, acquired privately held company Starbound. This acquisition helps to increase the sales of wild pollock. In February 2022, Maruha, Alaska CDQ groups to acquire pollock vessels. The newly expanded partnership includes shared ownership of 4 percent of the Bering Sea pollock quota.

COVID-19 Impact Negative impact on the global wild pollock market

The global wild pollock has slightly declined due to the Covid 19 pandemic. The United States of America reduced the production of wild pollock. During the pandemic, there was a strict regulation of the supply chain and transportation. At the same time, China has closed its port to the Russian Federation, creating a very difficult raw material supply situation for Chinese processors. The prices of the wild pollock are volatile. As the first season ends in April, the final catch numbers are lower than expected. However, the uncaught quotas are rolled over to the second season, which starts in June. US production of Alaska pollock fillets as of mid-March, 2021 stood at 30,600 tonnes, which was 43 percent lower than the previous year. Also, the import and export of the Wild Pollock are completely closed during a pandemic.

The global wild pollock market report would provide an access to approximately 55 market data tables, 61 figures and 170 pages