The rise in demand for convenient, nutritious seafood options, coupled with advancements in freezing technology and expanded distribution networks, are key factors driving the robust growth of the frozen hake market.

Wilmington, Delaware, Aug. 22, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Frozen Hake Market by Species (Atlantic Hake, Pacific Hake and Others), Form (Frozen Whole Hake, Frozen Hake Fillets and Others), and Distribution Channel (Local Distributors, Supermarkets/Hypermarkets and Online Channels): Global Opportunity Analysis and Industry Forecast, 2024-2034″. According to the report, the frozen hake market was valued at $1.4 billion in 2023, and is estimated to reach $3.1 billion by 2034, growing at a CAGR of 7.3% from 2024 to 2034.

Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/A323769

Prime determinants of growth  

The growth of the frozen hake market is fueled by an increase in consumer awareness of the health benefits associated with seafood consumption, such as omega-3 fatty acids and lean protein, drives demand for frozen hake. Secondly, advancements in freezing and packaging technologies ensure product quality, extend shelf life, and enhance convenience for consumers. In addition, globalization and expanding distribution networks enable wider market reach, particularly in emerging economies. Moreover, the affordability of frozen hake compared to other seafood options makes it accessible to budget-conscious consumers. Lastly, the versatility of frozen hake for various culinary applications appeals to a wide range of consumers, further stimulating market growth. 

Report coverage & details: 

Segment Highlights 

The demand for Atlantic hake is driven by several factors. Atlantic Hake, scientifically known as Merluccius, is abundantly found in the cold waters of the North Atlantic Ocean, making it readily available for fishing and processing. Its availability ensures a consistent supply, meeting the demand from consumers and industries worldwide. Moreover, Atlantic Hake is highly valued for its delicate flavor and versatile texture, making it suitable for various culinary applications. Whether grilled, baked, or fried, Atlantic Hake maintains its quality and taste, appealing to a broad spectrum of consumers with diverse culinary preferences. Furthermore, Atlantic Hake fisheries often adhere to strict sustainability practices, ensuring the long-term viability of the species and resonating with environmentally conscious consumers. 

Procure Complete Report (345 Pages PDF with Insights, Charts, Tables, and Figures) @ https://www.alliedmarketresearch.com/checkout-final/frozen-hake-market

The demand for frozen whole hake is influenced by multiple factors. It offers convenience and versatility to consumers and foodservice providers. Being sold in its entirety, it allows for various cooking methods, including baking, grilling, frying, and steaming, catering to diverse culinary preferences and applications. Frozen whole hake retains its natural flavor, texture, and nutritional value, appealing to consumers seeking authentic seafood experiences. Its intact form also allows for easy inspection of freshness and quality, instilling confidence in buyers. Moreover, frozen whole hake typically comes at a competitive price point compared to processed or portioned hake products, making it accessible to a wider consumer base, including budget-conscious shoppers and bulk buyers. 

The local distributors dominated the distribution channel segment. local distributors often have established networks and relationships within their communities, allowing them to effectively meet the specific needs and preferences of local consumers. Moreover, local distributors can offer a more personalized and responsive service, including tailored product assortments, flexible delivery schedules, and attentive customer support, enhancing customer satisfaction and loyalty. Local distributors may have a better understanding of regional regulations, market trends, and consumer preferences, enabling them to adapt quickly to changing market dynamics and seize emerging opportunities. Furthermore, by sourcing hake from local fisheries or suppliers, local distributors can offer fresher products with reduced transportation costs and environmental impact, appealing to environmentally conscious consumers and supporting local economies. 

Regional Outlook 

Asia-Pacific region has vast and diverse consumer base, which includes countries such as China, Japan, and South Korea, presents substantial opportunities for market expansion. These countries have a rich tradition of seafood consumption and a growing demand for imported frozen seafood products. Moreover, the strategic geographical location of many Asia-Pacific nations provides access to key fishing grounds, facilitating the sourcing and processing of hake. In addition, advancements in cold chain logistics and infrastructure have improved the distribution and availability of frozen hake products across the region, further driving market growth. Furthermore, the dynamic economic growth in many Asia-Pacific countries has led to rising disposable incomes and changing consumer preferences, with a growing inclination towards Western dietary habits and convenience foods. This shift in consumer behavior has contributed to increased demand for frozen hake as a convenient and versatile seafood option. 

Players: – 

The report provides a detailed analysis of these key players in the global frozen hake market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.  

For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/A323769

Report Review :

Definition

The frozen hake market involves the trade and distribution of hake fish that have been frozen to preserve freshness and extend shelf life. Hake, a member of the cod family, is valued for its mild flavor, white flesh, and versatile culinary applications. This market caters to both commercial and household consumers, providing a reliable source of protein through various frozen hake products such as fillets, steaks, and processed fish items.

Key Driver: Rising Health Awareness

One of the primary drivers of the frozen hake market is the increasing awareness of the health benefits associated with fish consumption. Hake is low in fat and high in protein, making it a desirable option for health-conscious consumers. The growing trend towards healthy eating and balanced diets is encouraging more people to include fish like hake in their meals. Additionally, hake’s relatively low levels of mercury compared to other fish make it a safer choice for regular consumption. This health-driven demand is expected to continue driving market growth, as consumers seek nutritious and convenient food options​.

Opportunity: Expansion in Emerging Markets

An important opportunity for the frozen hake market lies in its expansion into emerging markets. Countries in Asia, Africa, and Latin America are showing increasing interest in seafood, driven by rising incomes, urbanization, and changing dietary preferences. For instance, Madagascar’s frozen hake market is projected to grow significantly, bolstered by improvements in local processing facilities and supportive trade policies. These regions offer substantial growth potential for exporters and processors who can navigate the logistical challenges and tailor their products to meet local tastes and preferences​ 

Future Growth Prospects

The future of the frozen hake market appears promising, with several factors contributing to its anticipated growth. Technological advancements in freezing and transportation are enhancing the quality and availability of frozen hake products globally. This is crucial for maintaining product integrity during long-distance shipping, making hake more accessible to a wider audience.

Moreover, the increasing popularity of online food retail is transforming how consumers purchase frozen fish. The convenience of online shopping and home delivery services is expected to boost sales, particularly in urban areas. Furthermore, sustainability practices in fishing are becoming more important, with consumers and regulators pushing for responsible sourcing. Companies that adopt sustainable fishing methods are likely to gain a competitive edge in the market.

Overall, the frozen hake market is set to experience robust growth, driven by health-conscious consumers, expanding opportunities in emerging markets, and advancements in technology and sustainability. As the global appetite for healthy and convenient seafood continues to rise, the frozen hake market is well-positioned for a prosperous future.

Trending Reports in Industry:

Frozen Fish Market Size, Share, Competitive Analysis, 2023-2032

Frozen Fish / Seafood Market Size, Share, Opportunity Analysis, 2023-2032

Processed Fish Market Size, Share, Competitive Analysis and Forecast, 2022-2024

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa

1209 Orange Street,

Corporation Trust Center,

Wilmington, New Castle,

Delaware 19801 USA.

Int’l: +1-503-894-6022

Toll Free: +1-8007925285

Fax: +1-800-792-5285

[email protected]

Web: https://www.alliedmarketresearch.com/reports-store/food-and-beverages

Follow Us on | Facebook | LinkedIn | YouTube

Legal Disclaimer:

EIN Presswire provides this news content “as is” without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.