Wild Pollock Market - Forecast, COVID-19 Impact, Trend Analysis & Competition Tracking - Global Insights 2018-2033

Nutritional Benefits have Supported Wild Pollock Markets Enormous Growth

The rich and pristine waters of Alaska's Bering Sea are used to catch wild pollock. Due to its availability in fresh whole and frozen whole, fish sticks, fresh fillets, frozen fillets, and surimi products, the wild pollock market has witnessed drastic growth over the last decade. Low in fat, high in protein, heart-healthy, rich in vitamin B-12, and stuffed with omega 3 fatty acids, wild Alaska pollock is a great fish for health. Alaska pollock that is wild-caught in the United States is a wise seafood option since it is handled sustainably and properly harvested in accordance with American laws. Moreover, wild pollocks are now being sold through a variety of sales channels, including traditional brick and mortar stores and internet sales channels. This aspect is expected to promote the growth of the global wild pollock market throughout the forecast period. Furthermore, higher retail sales penetration is projected to emerge as another market development factor. In terms of vitamins, fatty acids, proteins, minerals, and fat-soluble vitamins like A, D, and E, wild pollock offers a balanced source. Its white flesh is flaky and a good source of amino acids. Wild pollock intake per day lowers the risk of heart attack, stroke, obesity, and high blood pressure. Wild pollock is abundant in polyunsaturated fat, particularly omega-3 fatty acids, and low in saturated fat. Its liver contains enough of omega-3 fatty acids including ALA, DHA, and DPA that support the health of the mucosa, skin, and hair. DHA is crucial for the growth of the neurological system, particularly in newborns and young children. The fatty acids in wild pollock are crucial for lowering blood pressure and heart rate as well as for enhancing cardiovascular health.

Wild Pollock Market is Witnessing Steady Growth Owing to Harvesting Cap

Wild Alaska Pollock has been the world's most abundant certified-sustainable wild fish. Only around 15% of the Wild Alaska Pollock population is harvested each year, leaving a thriving species for better future. This is the outcome of decades of careful fisheries management based on cooperation among scientists, government agencies, seafood firms, and Alaskan fisherman. The first of the two primary species of wild pollock, Alaska Pollock and Atlantic Pollock, accounts for more than 90% of the market revenue share due to its large utilisation in end-use categories. The market for wild pollock is strictly restricted by the availability of fish and the cost factor. Another popular fish that is commonly available in the US market is Alaska Pollock. Harvesting quotas, which are typically issued to companies operating in the market's supplier environment, are currently placing restrictions on the market. Because Atlantic Pollock is only occasionally available, it is more costly than its equivalent. Instead of being utilised for everyday needs, this fish is often offered as a costly delicacy and is employed in medicinal and nutraceutical products. Less than 10% of the world's wild pollock market is made up of Atlantic Pollock due to its scarcity.

Online Retail Platforms Preforming Essential Role in the Growth of Wild Pollock Market

Wild pollock is a mild-flavored white fish with a flaky texture. Due to its availability in fish sticks, fresh fillets, frozen whole, and surimi products, it is eaten in a number of ways. The global wild pollack market has expanded as a consequence of the availability of wild pollack on a variety of platforms, including online sales channels and the Morden trade. Additionally, increased retail sales penetration supports the market's expansion for wild pollock. The simultaneous availability of wild pollock fish on e-commerce platforms has encouraged consumers to purchase items without any physical restrictions. E-commerce allows users to thoroughly research items, compare prices and advantages, and evaluate the overall worth of a purchase before committing to it.

Wild Pollock Market Segmentation

The global wild pollock market is segmented on the basis of species, form, end use and distribution

On the basis of Species:

·         Alaska Pollock

·         Atlantic Pollock

On the basis of Form:

·         Fresh (Whole, Fillet)

·         Frozen (Whole, Fillet)

·         Canned

On the basis of End use:

·         Household (Retail)

·         Foodservice

·         Pharmaceutical & Nutraceutical Industry

On the basis of Distribution Channel:

·         Business to Business

·         Business to Customer (Grocery Stores, Hypermarket/ Supermarket, Online Sales Channel)

Leading Players are Focused on M&A activities as Part of Growth Strategy  

The Covid-19 pandemic has caused a slight drop in the wild pollock worldwide. The amount of wild pollock harvested has plummeted in the United States. The supply chain and transportation were strictly regulated during the crisis. At the same time, China blocked its port to Russian Federation, making it more challenging for Chinese processors to obtain raw materials. The cost of wild pollock is irregular. Additionally, during a pandemic, import and export of wild pollock are absolutely prohibited. One of the world's fisheries with the most regulations is the one in Alaska. It was decided many years ago that the U.S. government would set an annual harvest limit based on a scientific analysis of the fishery's carrying capacity, allowing the fishery to be sustained year after year. Additionally, there are third-party organisations that work to guarantee that shops or restaurant chains may plate seafood that comes from independently verified certified sustainable fisheries. The Marine Stewardship Council is one of them. In essence, the tale is one of collaboration between the government, business, and nonprofit sectors to ensure that the fisheries are sustained for future generations. It really is a successful partnership.

Trident Seafoods, a significant player in the North Pacific fishing business, bought privately held Starbound in December 2021. The sales of wild pollock are increased as a result of this purchase. Maruha, Alaska CDQ groups will purchase pollock vessels in February 2022. Four percent of the pollock quota in the Bering Sea is shared ownership under the recently enlarged partnership.

Leading corporations in the global wild pollock market, such as Trident Seafood Corporation and Maruha Nichiro Corp., which are expanding it with their pro-active and occasionally aggressive measures, have a significant global presence., whereas Pacific Andes International Holdings Ltd., Russian Fishery Company, American Seafoods Company LLC, and Jeka Group. are some of the prominent market players operating in the global Wild Pollock market.

High Consumer Expenditure is a Primary Driver of the Wild Pollock Market in North America

Consumption of wild Pollock in the US and Canada are rising as a result of rising consumer demand. Ten million Americans are aware of the advantages of eating wild Pollock for their health. Additionally, there is a rise in the price of wild Pollock due to growing hotel demand in the United States. Increasing wild Pollock exports contributes to growing the market share. North America, which makes up about one-third of worldwide demand, still has strong market growth possibilities. The rapidly expanding foodservice business in North America is primarily responsible for the rise in demand for wild pollock consumption.

The Asia Pacific region will present players with new opportunities as the Chinese market sits at the precipice of increasing traction. A number of regulations regarding selling of the fish and its labelling will contribute towards this growth. Besides, it is important to note that East and South Asian countries are massive consumers of wild pollock and this is increasing year by year. Market players would leave no stone unturned to tap into this consumer base.

The report provides a detailed overview of the wild pollock market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for wild pollock market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the wild pollock market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the wild pollock market. Some key country and region included in the wild pollock market report as follows:

North America (U.S., Canada)

Latin America (Mexico, Argentina, Brazil, Peru, Chile)

Europe (Germany, France, Italy, U.K., BENELUX, Nordics, Spain, Poland, Russia, CIS)

Asia Pacific (China, ASEAN, India, Japan, South Korea)

Oceania (Australia, New Zealand)

Middle East and Africa (South Africa, GCC Countries, Turkey, Israel, Iran)

The Wild Pollock Market Research Report Covers In-depth Analysis on:

·         Wild pollock market segments

·         Wild pollock market dynamics

·         Wild pollock market value and share analysis

·         Recent trends, restraints, opportunities in wild pollock market

·         Companies & competition involved wild pollock market

·         Latest technologies in wild pollock market

·         Supply chain and value chain wild pollock market

·         Wild pollock market sales and distribution strategies

Wild Pollock Market Growth Highlights:

·         A comprehensive overview of parent market

·         Market dynamics, demand and trends in the industry

·         Current, historical and anticipated market size in terms of volume

·         In-depth market segmentation

·         Competition landscape

·         Key Strategies of leading companies and product portfolio

·         Wild pollock industry trends and developments

·         Potential and country, regions and segments exhibiting future growth

·         A detailed viewpoint on wild pollock market forecast by countries

·         Essential information to enhance market position