Wild Pollock Market Report

The first of the two primary species of wild pollock, Alaska pollock and Atlantic pollock, accounts for more than 90% of the market revenue share due to its large utilisation in end-use categories. The market for wild pollock is strictly restricted by the availability of fish and the cost factor. Another popular fish that is commonly available in the US market is Alaska pollock. Harvesting quotas, which are typically issued to companies operating in the market's supplier environment, are currently placing restrictions on the market. Due to Atlantic pollock is only occasionally available, it is more costly than its equivalent. Instead of being utilised for everyday needs, this fish is often offered as a costly delicacy and is employed in medicinal and nutraceutical products. Less than 10% of the world's wild pollock market is made up of Atlantic pollock due to its scarcity.

The global environment issues such as climate change directly affects all aspects of ocean and thus has implications on factors such as temperature and conditions that greatly affect the location of wild pollock in their natural ecosystem. These environmental changes affect the normal life cycle of pollock as they are forced to change the places they use for spawning and feeding. Consequently, it could decrease the catch quantities, and affect the overall health and status of pollock stocks. These changes have to be accommodated in a bid to defend the sustainable fishing techniques as well as ensure the market stability of the wild pollock. Also, shifts in consumers’ demand, like from plant-based meals or a variety of seafood or plant-based protein, are affecting the demand for wild pollock. Introduction of other such foods that mimic seafood is just a result of the consumer embracing other meals that are healthy and can be easily obtained.

One of the world's fisheries with the most regulations is the one in Alaska. It was decided many years ago that the U.S. government would set an annual harvest limit based on a scientific analysis of the fishery's carrying capacity, allowing the fishery to be sustained year after year. Additionally, there are third-party organisations that work to guarantee that shops or restaurant chains may plate seafood that comes from independently verified certified sustainable fisheries. The Marine Stewardship Council is one of them. In essence, the tale is one of collaboration between the government, business, and non-profit sectors to ensure that the fisheries are sustained for future generations. It really is a successful partnership. For instance, in February in 2022, Trident Seafoods, a significant player in the North Pacific fishing business, bought privately held Starbound. The sales of wild pollock are increased as a result of this purchase. Maruha, Alaska CDQ groups will purchase pollock vessels. 4 % of the pollock quota in the Bering Sea is shared ownership under the recently enlarged partnership.

Consumption of wild Pollock in the US and Canada is rising as a result of rising consumer demand. 10 million Americans are aware of the advantages of eating wild Pollock for their health. Additionally, there is a rise in the price of wild Pollock due to growing hotel demand in the United States. Increasing wild pollock exports contributes to growing the market share. North America, which makes up about one-third of worldwide demand, still has strong market growth possibilities. The rapidly expanding food service business in North America is primarily responsible for the rise in demand for wild pollock consumption.

The Asia Pacific region will present players with new opportunities as the Chinese market sits at the precipice of increasing traction. A number of regulations regarding selling of the fish and its labelling will contribute towards this growth. Besides, it is important to note that East and South Asian countries are massive consumers of wild pollock and this is increasing year by year. Market players would leave no stone unturned to tap into this consumer base.