LONDON--(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.
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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