According to a new report, published by KBV research, The Global Haddock Market size is expected to reach $16.8 billion by 2031, rising at a market growth of 4.6% CAGR during the forecast period. In the year 2023, the market attained a volume of 4,67,442.13 tonnes, experiencing a growth of 18.7% (2020-2023).
The Fresh segment is leading the Global Haddock Market by Type in 2023; thereby, achieving a market value of $7.9 billion by 2031. This dominance can be attributed to consumer preferences for fresh fish due to its perceived higher quality and nutritional value. The demand for fresh haddock is particularly strong in regions with easy access to fisheries and markets that can support quick distribution channels to maintain the freshness of the product.
The Supermarkets/Hypermarkets segment is anticipating a CAGR of 4.4% during (2024 - 2031). Supermarkets and hypermarkets offer the convenience of purchasing haddock and other groceries, appealing to consumers looking for a one-stop shopping experience. These outlets often employ aggressive marketing and promotional strategies, such as discounts and loyalty programs, which can boost haddock sales. Sustainable and responsibly derived seafood is becoming increasingly popular.
Full Report: https://www.kbvresearch.com/haddock-market/
The Europe region dominated the Global Haddock Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $7.8 billion by 2031. The Asia Pacific region is experiencing a CAGR of 5.2% during (2024 - 2031). Additionally, The North America region would showcase a CAGR of 4.4% during (2024 - 2031).
By Type (Volume, Tonnes, USD Billion, 2020-2031)
By Distribution Channel (Volume, Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Tonnes, USD Billion, 2020-2031)
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