Wild Pollock Market

Wild Pollock Market Outlook (2023-2033)

The global wild pollock market is estimated to progress at a CAGR of 4.9% from 2023 to 2033. The market stands at US$ 2.1 billion in 2023 and is predicted to reach US$ 3.4 billion by 2033-end.

Consumption of fresh wild pollock is increasing owing to growing awareness of the health advantages of fresh fish, such as lowering the risk of chronic diseases and regulating hormone levels.

Wild pollock is a mild white fish with a delicate flake and texture that is high in omega-3 fatty acids and vitamins B12 and B6. Wild pollock consumption significantly lowers cholesterol, hence reducing the risk of heart disease. Most stores sell prepared frozen foods or fresh fish fillets.

Consumers favor wild pollock because it is abundant in nutrients and has a low risk of exposure to environmental pollutants. Wild pollock is a more affordable and superior alternative to cod fish that is expected to boost market expansion over the coming years. The market is driven by increased consumption in the home, pharmaceutical, and food service sectors for its delivery of a consistent supply of end products, such as nutraceuticals, medications, and frozen & fresh food.

Growing consumer awareness of the importance of maintaining good health and wellness is now driving the demand for wild pollock. The consumption of wild pollock is also being driven by consumers' shifting dietary choices, which are moving away from high-calorie foods and toward diets rich in protein. Accordingly, the high prevalence of several lifestyle disorders, such as hypertension, obesity, arthritis, etc., is fueling global product demand.

Demand for fresh, whole, fillets, frozen, and canned wild pollock with advantages such as long shelf life and simple storage is also increasing as a result of customers' busy work schedules and inactive lifestyles. The widespread use of wild pollock liver oil in the pharmaceutical business is another factor that is boosting the market expansion.

In addition, the development of numerous novel aquaculture techniques is having a favorable impact on the market by increasing productivity and reducing disease outbreaks in the wild pollock. The creation of organic product subtypes in response to the rise in cases of foodborne diseases caused by pathogens found in wild pollock will continue to fuel market expansion over the coming years. The main driver of the market is the customers' rising desire for seafood. The market is projected to rise due to the rapid expansion of the fisheries sector to produce a large amount of fish to fulfil demand around the world.

Growing consumer demand for nutritious meals in daily life and the popularity of fish oil in the bodybuilding sector will contribute to market growth over the forecast period.

Rising demand for beach vacations, the booming rise of online food delivery firms, and an increase in the number of restaurants, hotels, and resorts are the elements supporting market expansion.

The global market is expanding due to the rising trend of supplement consumption, rising consumer awareness of food items, rising interest in physical fitness, and the exceptional health benefits of fish oil for treating chronic illnesses, cancer, and cardiovascular disease.

Report Attributes	Details
Wild Pollock Market Size (2023)	US$ 2.1 Billion
Projected Market Value (2033)	US$ 3.4 Billion
Global Market Growth Rate (2023-2033)	4.9% CAGR
Market Share of Alaska Pollock	90%
Key Companies Profiled	Norebo Holding Russian Fishery Company Starbound LLC Trident Seafoods Eastern Fish Company Glacier Fish Company LLC

Which are the Growth Determinants of the Market for Wild Pollock?

“Growing Consumer Demand for Essential Fatty Acids & Protein”

The global market is expanding as a result of rising consumer demand for essential fatty acids and protein. Due to expanding health advantages, a rise in customers' good eating habits, and increased income levels, the trend for premium and luxury products has recently become more prominent.

The industry has had to overcome many obstacles to maintain its place in the market, thus it is important to heavily push for the consumption of the products with the best nutritional profiles and the least negative effects on the environment.

In addition to this, improvements in packaging technologies, including active food packaging, vacuum packaging, and modified atmosphere packaging are crucial for maintaining the quality qualities of the items. These methods also aid in the preservation of fishing products and the regulation of the growth of food diseases.

“Increasing Adoption of Pescetarianism”

Over the past few years, the global consumption of seafood has steadily increased. This rise in consumption is attributed to both the growth of living standards in developing countries as well as some increased health consciousness. Many people all over the world live a pescetarian lifestyle, which involves eating both fish and a vegetarian diet due to health-related reasons.

In addition to being nutritious, fish, especially salmon, trout, and pollock are high in omega-3 fatty acids and offer health advantages. The consumption of wild pollock rises as a result of the growing recommendation of omega-3 fatty acids for heart and brain health. Further aids in reducing the danger of health-related illnesses, including obesity, cardiovascular diseases, and others include regular consumption of fishery products or adhering to a pescetarian diet.

Wild pollock is a great choice for people looking for healthy meals because it also has a low concentration of fat and oils, which are primarily concentrated in the liver. A factor boosting market growth is the millennial generation's growing preference for clean-label, natural sources of protein.

The market is anticipated to benefit from revenue-generating potential from bettering distribution network infrastructure and growing affordability. Future demand for wild pollock food is expected to be boosted by the availability of home deliveries, the expansion of cafes and fast-food restaurants, and the rising popularity of eating out.

What Can Adversely Affect Consumption of Wild Pollock?

“Strict Government Fishing Laws & Policies and High Shipping Costs”

The primary restraints, including high shipping costs and strict government regulations for restricted production, may impede the worldwide industry. Lack of advanced equipment & processing methods, a lack of funding, inadequate management, and unavailability of a network of cold storage facilities, may limit market expansion throughout the projection period.

Which Regional Market is Catching the Attention of Wild Pollock Providers?

“Rapid Expansion of Food Service Industry in Europe”

Europe accounts for 40% share of the global market value. Consumption of wild pollock in the region is mainly backed by increasing demand from the rapidly growing food service industry. An increase in tourists and huge demand for wild pollock because of its health benefits are driving market growth in Europe.

Country-wise Insights

How is the Market for Wild Pollock Progressing in Germany?

“Huge Demand for Wild Pollock from Pharmaceutical Industry”

Growing preference among consumers for seafood, increased consumption of wild pollock to lower the risk of heart disease, surging demand for wild pollock from the pharmaceutical industry, and favorable government laws are the main aspects driving the market value in Germany. Innovations in fish product offerings have been driven by the growing culture of eating in cafes, bars, and restaurants in the country.

What’s Leading to Increasing Wild Pollock Demand in Japan?

“Constant Shift in Consumer Behavior towards Purchasing Seafood Products through Organized Retail Channels”

Rapid urbanization, growing health consciousness, increasing disposable incomes, and advancements in refrigeration technology for the transport and storage of wild pollock are the factors supporting market expansion in Japan. An increase in fast food restaurants serving fish and a continuous shift in consumer behavior toward purchasing seafood products through organized retail channels are stimulating market revenue in the country.

What Allows the U.S. to Hold a Significant Market Share of Wild Pollock?

“Growing Preference of High-protein Diets in the U.S.”

The market in the U.S. is predicted to experience the highest growth due to the rising acceptance of diets high in protein. Market expansion is attributed to well-established distribution channels, the rise of internet sales, the increasing working population, and growing consumer awareness of the advantages of fresh & high-quality products. The rising number of millennials and the surging popularity of convenience food products are driving market growth in the U.S.

Category-wise Insights

Which Species of Wild Pollock Holds High Significance?

“Alaska Pollock More Preferred Due to its Wide Availability & Affordability”

Based on species, the market is classified into Alaska pollock and Atlantic pollock. Alaska pollock accounts for around 90% of the market revenue share, owing to its extensive utilization in several end-use industries. Fish population and price factors also play a major role in capturing the majority of the wild pollock market. Moreover, Alaska Pollock is one of the key fishes extensively sold in the U.S. market.

Atlantic pollock is relatively more expensive than its counterpart due to the seasonal availability of the fish. This fish is mostly served as an expensive delicacy and used for pharmaceutical & nutraceuticals rather than household purposes.

Why Do Hypermarkets/Supermarkets Account for Highest Product Sales?

“Hypermarkets/Supermarkets Offer Wide Variety of Wild Pollock Products in Different Forms Under One Roof”

Based on distribution channel, the market is divided into grocery stores, hypermarkets/supermarkets, and online retail stores. Currently, hypermarkets/supermarkets hold 50% share of the global market.

Supermarkets and hypermarkets are gaining popularity among shoppers because they provide a wide variety of things under one roof, from food and beverages to consumer goods. Since freshness and shelf life play a significant role in sales, consumers prefer hypermarkets/supermarkets.

Supermarkets are considered a suitable place to buy wild pollock because it can be frozen or stored easily, helping to preserve its essential features. Quick-freezing solutions are available in supermarkets and hypermarkets, which aid in keeping the products fresh for a longer period. Because they are confident in the overall quality of these products, consumers are therefore extremely motivated to buy them through retail channels.

Competitive Landscape

Top wild pollock suppliers are expanding their consumer base, either through joint ventures or collaboration with other major business stakeholders. They are focused on introducing sustainable products with vital nutrients. There are several chances for market expansion as a result of the rising demand for clean-label foods that are both safe for consumption and the environment.

To expand their operations, major wild pollock providers are concentrating on creative packaging solutions, logistical expansion, and assisting distribution networks. Such measures are anticipated to increase the product's rate of adoption among consumers worldwide.

For instance,

• Maruha Nichiro Corp.’s decision to increase its production capacity and product innovation strategy will play an instrumental role in improving its market share over the forecast period.
• In 2021, Irish-based Kerry Group invested US$ 125 million in its manufacturing facility in Rome, Georgia. With the production of seafood and other items with alternate sources of protein, the company will be able to increase its production capacity.

Key Segments Covered in Wild Pollock Industry Research

• By Species :

  • Alaska Pollock
  • Atlantic Pollock

• By Form :

  • Fresh
  • Whole
  • Fillets
  • Frozen
  • Canned

• By End Use :

  • Households
  • Food Service
  • Pharmaceuticals & Nutraceuticals

• By Distribution Channel :

  • Grocery Stores
  • Hypermarkets/Supermarkets
  • Online Retail Stores

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa