Top 3 Emerging Trends Impacting the Global Smoked Fish Market From 2017-2021: Technavio
April 21 2017 - 1:03PM
Business Wire
Technavio’s latest report on the global smoked fish
market provides an analysis on the most important trends
expected to impact the market outlook from 2017-2021.
Technavio defines an emerging trend as a factor that has the
potential to significantly impact the market and contribute to its
growth or decline.
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Technavio has published a new report on
the global smoked fish market from 2017-2021. (Graphic: Business
Wire)
The research study by Technavio on the global smoked fish
market for 2017-2021 provides a detailed industry analysis
based on the product type (hot smoked fish and cold smoked fish),
distribution channel (supermarket and hypermarkets, independent
retailers, discounters, and convenience stores), and geography
(EMEA, the Americas, and APAC).
Smoked fish is preserved fish, where the fish undergoes
preservation through smoking. Hot smoking and cold smoking are the
two types of smoking process, with each process giving a unique
taste and texture to the fish. Technavio analysts forecast the
global smoked fish market to grow to USD 21.07 billion by 2021, at
a CAGR of nearly 5% over the forecast period.
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The top three emerging trends driving the global smoked fish
market according to Technavio food and beverage research
analysts are:
- New techniques of smoking fish
- Growth prospects in e-commerce
- New packaging for smoked fish
New techniques of smoking fish
“Vendors are experimenting with new
techniques for smoking fish, which is an emerging trend that is
taking over the market. These new techniques are aimed at improving
the quality and the taste of the product,” says Manjunath
Reddy, a lead analyst at Technavio for food research.
In 2015, SNV Ghana in association with the Food and Agriculture
Organization, introduced a new technology for smoking fish called
the FTT-Thiaroye. This technology enables the market players to
create products that will meet food safety requirements and will
help in drying and smoking operations regardless of weather
conditions.
Growth prospects in e-commerce
The growth of the e-commerce industry is positively impacting
many other markets, since it opens a new channel of distribution to
the vendors. Online and e-commerce channels support both
business-to-business (B2B) and business-to-consumer (B2C)
operations of the smoked fish vendors, which is creating a new
stream of revenue to the market. For instance, Ocean Executive, a
B2B marketplace, connects seafood companies across the supply
chain: from fishers, processors, and wholesalers to grocery stores
and large restaurant chains. The emergence of this channel provides
a huge boost to the growth of the market.
New packaging for smoked fish
“Vendors in the smoked fish market are
adopting new packaging styles to appeal to the changing consumer
preferences and stay abreast of the marketing and advertising
trends and strategies,” says Manjunath.
Vendors are also investing in using packaging materials to
increase the shelf life of the smoked fish products, to keep it
fresh and tasty for longer periods of time. For instance, the new
smoked fish packaging adopted by Associated Seafoods not only
provides enhanced protection, but also highlights the company's
experience in fish smoking.
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About Technavio
Technavio is a leading global technology research and
advisory company. The company develops over 2000 pieces of research
every year, covering more than 500 technologies across 80
countries. Technavio has about 300 analysts globally who specialize
in customized consulting and business research assignments across
the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of
bottom-up and top-down approaches, besides using in-house market
modeling tools and proprietary databases. They corroborate this
data with the data obtained from various market participants and
stakeholders across the value chain, including vendors, service
providers, distributors, resellers, and end-users.
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
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