With a projection of 950 thousand tons marking global consumption volume by 2019 end, rainbow trout continues to witness healthy demand as a high-protein low-cholesterol fish variety. Characterized by its excellent omega-3 fatty acid profile, rainbow trout is likely to see sustained sales, strongly backed by a relatively cheaper price point.
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The healthier and good-for-you trend has been adding to the market attractiveness of protein-rich foods, particularly seafood. Rainbow trout is being increasingly touted as a protein-rich ingredient, as thus is witnessing strong demand from the seafood processing sector. Once overshadowed by salmon, rainbow trout is now reflecting clear signs of entering the mainstream as a low-cost fish for consumption. The cheaper price point remains an added advantage, and is likely to be the pivotal factor responsible for expanding the existing seafood consumer base.
Fact.MR’s study opines that the increasing consumer concerns surrounding high mercury levels in wild captured rainbow trout are accounting for falling sales of the wild captured variety. On the flipside, this scenario is favoring the sales of aqua-cultured fish in the global market, with global sales volume estimated to reach ~834 thousand tons towards the end of 2019.
Of late, seafood quality has been a serious concern among food processors and consumers alike, which is directing fish farming organizations and vendors to rationally shift to digital health monitoring of fish. Vendors of aqua-cultured rainbow trout have been behind this digitalization trend so as to assure the health and quality of rainbow trout. In addition, tightening regulatory guidelines for safe transportation and hygiene in case of consumption of fresh rainbow trout will continue to play a pivotal role in assuring absence of any contamination, which will further help vendors comply with the concerned food agency directives.
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‘Small-sized’ Remain Preferred for Whole Intact Fillets
According to the report, small rainbow trout is likely to witness impressive sales in 2019 and beyond, with the volume likely to near 660 thousand tons by the end of 2019. The study indicates that the demand for small rainbow trout has grown considerably in recent years, in line with the shifting preference of chefs and caterers for whole intact fillets that constitute a single portion. Growing market preference for plate-size whole fillets is propelling sales of small rainbow trout, thereby underpinning a solid position of fish on the restaurant and foodservice menus.
According to the study, seafood consumers have been showing marked preferences for fresh rainbow trout over frozen and canned variants. Highly versatile nature of fresh rainbow trout, with practically endless preparation alternatives, will continue to drive adoption in food products. Growing demand for farm raised, natural, and sustainable products across Europe will continue to create lucrative opportunities for fresh fish in the region.
The study opines that Europe will continue to lead the rainbow trout market owing to the high fish farming visibility in the region that has been further creating favorable environment for companies to poach in. The study identifies R&D optimization, increased purchasing and bargaining power of consumers, a rapidly expanding customer base, and improving export possibilities to firm up the already strong base for rainbow trout sales within European markets. Strong presence of leading companies that are technologically sound and are capable of catering to the massive growth in demand for rainbow trout, particularly in Russia, will assist in further growth of the market in Europe.
Key Challenges Facing Stakeholders in Rainbow Trout Market
- As food processing companies are investing considerable efforts in alignment of their offerings with the vegan trend, vegan substitutes for seafood are gaining ground at a rapid pace. An emerging trend of fish-free seafood is creating significant challenges for the stakeholders in fish farming landscape, including those dealing in rainbow trout.
- High capital investments required for fish farming, coupled with high maintenance and operating costs, continue to forestall new investment projects in the rainbow trout market. Increasing adoption of advanced technologies and the continuing research in non-conventional fish farming practices are however expected to create a novel, economically sustainable market outlook for rainbow trout.
- High vulnerability of rainbow trout to sea lice continues to be a longstanding impedance to high-quality, clean production of rainbow trout, which is among the most concerning factor restricting rapid growth of the rainbow trout market.
- Habitat destruction has been the toughest threat to biodiversity, and rainbow trout is no exception. The market growth thus remains restricted in the long run.
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
The report covers following Rainbow Trout Market insights and assessment that are helpful for all participants involved in the Intradermal Injections market:
- Data on recently introduced regulations and their impact on key industries and on demand in Intradermal Injections
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- Key trends Analysis of Rainbow Trout Market and changing consumer preferences in major industries.
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- Major trends underlining funding by key investors in numerous countries
- New investment opportunities in diverse technology and product or service types
- Comprehensive data and Competitive analysis of Intradermal Injections major players
- Rainbow Trout Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
- Intradermal Injections demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth
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