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Health benefits of pickled herrings to drive market growth: Report
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Friday, 05 August, 2022, 14 : 00 PM [IST]
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Our Bureau, Mumbai
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According to a new report by Fact.MR, a market research and competitive intelligence provider, the global pickled herrings market has reached a size of US$3.5 billion in 2022 and is expected to expand at a CAGR of 3.6% during the forecast years 2022-2032.
Despite being a small fish, herrings have high content of omega-3s and Vitamin-D that impart several health benefits and have the potential to decrease health risks related to cancer and heart disease. Besides tasting delicious, pickled herrings is a way to preserve the fish for a longer period of time for future consumption.
Manufacturers across the market are merging and collaborating to bring out innovations in pickled herrings products, along with scrutinising combinations of different sauces with pickled herrings. Moreover, to strengthen the growth and value of the market, governments have introduced strict regulations to ensure the quality of seafood exports, which is boosting the international trade of pickled herrings. Incipiently, the consumption of pickled herrings was limited to one type of sauce or as a whole. However, with rising health awareness among people about heart disease and increasing availability of different varieties of sauces, overall pickled herrings consumption rate has increased.
Key Takeaways from Market Study
- The global pickled herrings market is predicted to expand at a CAGR of 3.6% and reach US$5 billion by 2032.
- The market witnessed 1.8% CAGR during the period 2017-2021.
- Under the sauce type segment, wine sauce dominates the market and was valued at US$786.4 million in 2021.
- Europe dominated the market with 76.7% market share in 2021.
- Together, Europe and North America hold 86.2% market share in 2022.
- Demand for pickled herrings is expected to increase at CAGRs of 3.4% and 4.9% in Europe and North America, respectively, over the forecast years.
“Increased knowledge about the benefits of pickled herrings for heart health and the addition of delightful flavours will enhance demand for the product over the coming years,” says a Fact.MR analyst.
Development Strategies
Key manufacturers of pickled herrings are focusing on increasing the awareness about their products and are innovating sauce combinations. For example, market players such as AB Bröderna Ameln, Bay View Packing Company, and Vita food are improvising their products by adding more combination of flavours such as kryddersild, tomatsild and sennepssild.
Manufacturers are also investing in research and development, strengthening their supply channels, and pushing for geographical expansion.
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