Pangasius: Market Outlook
Pangasius is one of the most popular fish product consumed by the global population. Pangasius is prominently found in the Vietnam, Cambodia and other surrounding nations. Vietnam is among the top producer country for the pangasius. Vietnam uses the aquaculture technique to increase the production of pangasius to meet global demand. Vietnam is also the top exporter of pangasius across the globe. Vietnam exports more than 50% of its production of pangasius. The export quality and changing consumer preference towards the pangasius is increasing market demand form the countries such as Russia, Middle Eastern countries and some Asian countries for pangasius imported from Vietnam.
Pangasius has many health benefits due to its low-fat content. Pangasius is also enriched with a high amount of proteins and hence it is used in the nutraceuticals and dietary supplements. Pangasius is considered as one of the best sources of the omega-3 fatty acid which is essential for the good health of the heart. This functional properties of the pangasius have various applications in dietary supplements and pharmaceutical industry.
Growing Awareness about the Cardio Vascular Diseases Driving the Market Growth for the Pangasius
Consumers are getting aware of the cardiovascular diseases and the preventive measures are taken by them. The pangasius is rich in omega-3 fatty acids which is beneficial in the prevention in the various heart diseases. This awareness among the consumers is driving the market growth for the pangasius across the globe. Countries like Thailand, China and Cambodia are using new and innovative techniques to increase the production of pangasius and to satisfy the global demand for pangasius. The variety in pangasius such as pangasius bocourti has a mildly sweet flavor, it is white meat and contains slight flaky texture. These properties of pangasius bocourti are expected to boost the market growth of pangasius across the globe. The consumer preference is inclining towards the pangasius food in the regions like Europe and North America. Many restaurants in these regions are now featuring within pangasius food in their food menu. This trend is expected to increase market growth for the pangasius market across the globe.
Global Pangasius Market: Market Segmentation
On the basis of Product Type, global pangasius market has been segmented as,
On the basis of Species, global pangasius market has been segmented as,
On the basis of Application, global pangasius market has been segmented as,
On the basis of Distribution Channel, global pangasius market has been segmented as,
Pangasius Market: Market Participants
The market participants in the global pangasius market identified across the value chain includes Iglo Group, Marine Harvest, High Liner Foods, Thai Union Frozen Products, Leroy Seafood Group, Dong Won Fisheries, Beijing Princess Seafood International Trading, Findus Group, Empresas AquaChile, Hansung Enterprise, Faroe Seafood, Labeyrie Fine Foods, Mogster Group, Kverva, Sajo Industries, Surapon Foods, Tassal Group, Stolt Sea Farm among the other pangasius producers across the globe.
Opportunities for the Participants in Pangasius Market
Vietnam is the leading exporter of frozen food across the globe. All the species of pangasius are found in the countries such as Vietnam, China, and other surrounding countries. These countries use the aquaculture technique to produces all the species of the pangasius. Hence these countries have the potential market for the suppliers and this is results in an increase in the market share of these countries in pangasius market. All the producers of pangasius from Vietnam and other countries are investing for the modified and improvised storage spaces. They are also expanding their production capacity to satisfy global demand. This is expected to drive the market growth of the pangasius across the globe.
The pangasius is made available in different packaging materials and styles in the various business to consumers segments, which gives them multiple options to the consumers to choose from is expected to boost the market growth of the pangasius market across the globe. Although being the leading exporter in frozen food across the globe, Vietnam is facing the losses due lac of efficient and enough storage spaces.