The Asia Pacific Haddock Market would witness market growth of 5.2% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 1,13,014.42 tonnes, showcasing a growth of 19.3% (2020-2023).
Smoked haddock is a cherished delicacy known for its distinctive flavor, versatility, and rich culinary heritage. Traditionally, it is used in dishes such as kedgeree, Cullen skink (a Scottish smoked haddock soup), and smoked haddock fish cakes. Thus, the China market is expected to consume 5,275.75 tonnes of smoked haddock by 2031.
The China market dominated the Asia Pacific Haddock Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,148.3 Million by 2031. The Japan market is registering a CAGR of 4.5% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 5.8% during (2024 - 2031).
The adaptability of haddock has facilitated its entry into non-traditional markets, particularly in regions where seafood is integral to the diet, such as parts of Asia. In India, for instance, haddock can be found in coastal cuisines, often incorporated into curries. The fish's ability to absorb the intense flavors of spices like turmeric, coriander, and cumin makes it suitable for Indian culinary practices.
Moreover, the growing global focus on health and wellness has further boosted the popularity of haddock. Its high protein levels and minimal fat content render it an exceptional option for health-conscious consumers worldwide. As international exposure to various cuisines increases, so does the interest in incorporating versatile, healthy fishlike haddock into everyday meals.
It is anticipated that the Asia Pacific market will see rapid growth in the years to come, mostly as a result of the increase in imports from countries like China and Japan. China continued to be the primary producer, accounting for 35% of the total, as indicated by the FAO Yearbook of Fishery and Aquaculture Statistics. India and Indonesia followed, with 8% and 7% of the total, respectively. These three countries account for around 50 percent of the world's aquatic animal production in 2021. China and Japan were also the two major importers in 2021.
Free Valuable Insights: The Global Haddock Market is Predict to reach USD 16.8 Billion by 2031, at a CAGR of 4.6%
Based on Type, the market is segmented into Fresh, Frozen, and Smoked. Based on Distribution Channel, the market is segmented into Retail Stores, Supermarkets/Hypermarkets, Food Service, Online Sales, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Type (Volume, Tonnes, USD Billion, 2020-2031)
By Distribution Channel (Volume, Tonnes, USD Billion, 2020-2031)
By Country (Volume, Tonnes, USD Billion, 2020-2031)
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