The proliferating rainbow trout culture continues to create lucrative growth opportunities for the stakeholders. Growing awareness about numerous beneficial outputs of rainbow trout culture is underpinning gains in the rainbow trout market. These outputs are increasingly witnessing traction as food products, live fish for the restocking of lakes and rivers for recreational game fisheries, and distribution of products from hatcheries in diverse farms.
Extensive health benefits of consuming rainbow trout are driving its sales. Rich in Omega-3 fatty acids, potassium, phosphorous, B-vitamin complex and a good source of selenium, and low in contaminants, rainbow trout makes a viable substitute for protein. Consequently, rainbow trout is witnessing increasing traction in diverse human consumption foods, in fresh, smoked, whole, filleted, canned, and frozen forms. Sales of frozen rainbow trout are likely to grow in the forthcoming years owing to the shift in consumer preference for ready-to-cook or instant foods. Furthermore, the Chinese government has recently ruled that rainbow trout can be labeled and sold as salmon, which is favoring the growth in the rainbow trout market.
Leading players in the rainbow trout market are focusing on pushing the production efficiency and sales by accelerating the rearing densities, enhancing recirculation technology and adopting unique growth strategies.
Strict guidelines and regulations related to rainbow trout for consumption are impeding growth in the rainbow trout market. According to food agency directives, hygiene and safe transportation of fresh rainbow trout hold significant importance and companies are required to ensure that fish are uncontaminated by bacteria.
Rainbow Trout Market: Introduction
Rainbow trout is a member of the salmon family. There are about 15 subspecies of rainbow trout, which are native to the western part of North America. Rainbow trout are found across the world. Rainbow trout inhabits in cold streams and river, while other subspecies spend part of their lives in the ocean. Rainbow trout are popular game fish and are also an important food source for humans. The rainbow trout is an excellent alternative for protein and contains about 19 grams of protein in a three-ounce cooked rainbow trout. Thus, rainbow trout are often cultivated in commercial farms throughout the globe.
Rainbow Trout Market: Dynamics
The key driving factor for the global rainbow trout market is the growing demand for wild-caught and farmed fish from a growing population. The significant increase in sales of rainbow trout owing to the rise in consumer preference regarding healthy food in developing economies is highly anticipated to drive the global rainbow trout market. Moreover, considerable growth in the consumption of seafood will create a significant opportunity for the global rainbow trout market over the forecast period. Furthermore, the new rule introduced in China regarding rainbow trout can be now labeled and sold domestically as salmon is highly anticipated to boost the demand for rainbow trout. As Rainbow Trout are high in Omega-3 fatty acids, they are gaining huge recognition among the health conscious population across the globe. All the above mentioned major influencing factors are highly anticipated to drive the global rainbow trout market over the forecast period. The key restraining factor such as high fish farming cost coupled with regular high maintenance factor may hinder the global rainbow trout market growth over the forecast period.
Rainbow Trout Market: Segmentation
The global rainbow trout market is segmented on the basis of type, operation, end-use sector and region.
Based on the type, the global rainbow trout market is segmented as:
- Wild Captured
Based on the distribution channel, the global rainbow trout market is segmented as:
- Modern Store Format
- Convenience Store
- Specialty Food Stores
- Modern Store Format
Based on the end-product, the global rainbow trout market is segmented as:
Farmed rainbow trout is estimated to account for a significant market share over the forecast period due to a significant rise in the rainbow trout aquaculture across the globe. On the other hand, among end-product segments, frozen rainbow trout is anticipated to see rapid market growth over the forecast period, attributed to being one of the most widely consumed product. Whereas for the distribution channel, indirect service currently represents the largest distribution channel.
Rainbow Trout Market: Regional Outlook
Based on geographies, the global rainbow trout market is segmented into seven regions including North America, Latin America, Europe, CIS & Russia, Japan, APEJ (the Asia Pacific excluding Japan) and MEA. Among the above-mentioned countries, North America is estimated to account for a significant market share due to the presence of leading vendors and producer. APEJ is anticipated to witness a high growth in the global rainbow trout market owing to its growing economy with a huge population base that is ready to spend on healthy seafood. Moreover, Europe is projected to showcase optimistic growth in the global rainbow trout market due to the rise in the fish farming industry along with a boost in the standard of living across the region. MEA is one of the key promising regions which will generate notable opportunity in the global rainbow trout market over the forecast period due to the rise in per capita expenditure and an upsurge in foreign tourist in the region.
Rainbow Trout Market: Prominent players
Prominent players for the global rainbow trout market are Marine Harvest ASA, Albury Estate Fisheries, Cermaq Group AS, Lerøy Seafood Group ASA, AQUABEST SEAFOOD LLC., Grieg Seafood ASA, Clear Springs Foods, Torre Trout Farms Ltd, Rushing Waters Fisheries, Specialty Food Association, Inc. and other key market players. Prominent market players are committed to enhancing their rainbow trout farming capabilities to capture maximum market share in the global rainbow trout market. These companies are aiming at the expansion of production and supply capacity of rainbow trout to increase its overall profitability.
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
- Market Dynamics
- Market Size
- Market Segments
- Demand & Supply Trends
- Current Issues and Challenges
- Companies and Competitor Landscape
- Value Chain
Regional Segments Analyzed Include
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
Highlights from the Report
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current and forecast market size based on value and volume
- Latest industry developments and trends
- Competition landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on performance of the market
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
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