Global herring market growing due to health benefits and sustainability

From GlobeNewswire: 2025-02-24 08:00:00

The global herring market is projected to reach $9.27 billion in 2024, with a CAGR of 1.3% from 2024 to 2034. Herring’s popularity is rising due to its health benefits, rich in protein, vitamins D and B12, and omega-3 fatty acids. Its affordability and sustainability are driving demand worldwide.

Consumers looking to add more seafood to their diets are turning to herring for its lower cost and versatility in cooking methods. Herring is also seen as a more environmentally friendly option compared to overfished species. Global dietary guidelines promoting higher fish consumption are contributing to its popularity.

Key takeaways from the market study show the global herring market is forecasted to reach $10.57 billion by 2034, with North America holding a 24.5% market share in 2024. Revenue from the East Asia market is expected to reach $2.18 billion in 2024. The South Korea market is projected to grow at a CAGR of 2.7% from 2024 to 2034.

The introduction of convenient ready-to-eat herring items, innovative fishing and processing methods, and sustainability practices are driving market growth. Suppliers are offering value-added products like flavored fillets and gourmet spreads to attract a wider consumer base. Traceability information is also provided to meet consumer demand for transparency.

Leading key players in the herring market include Acme Smoked Fish Holding Corp., Bay View Packing Company, and Ocean Beauty Seafoods. These companies are driving innovation with new products like pickled herring and fish oil offerings. In Norway, whole herring exports are increasing, while domestic prices are at a low.

In the food and beverage industry, the global marine oil market is projected to reach $2,802.3 million by 2032, with a 3.8% CAGR. The mineral ingredients market is set to reach $935 million by 2027. The emulsion stabilizer for beverages market is expected to grow to $2.4 billion by 2033. The global vitamin E market is projected to reach $3.7 billion by 2033.

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Read more at GlobeNewswire: Herring Market Gains Momentum, Eyes $10.57 Billion by 2034