The report “Processed Seafood & Seafood Processing Equipment Market by Type (Fish, Crustaceans, Mollusks), Equipment Type (Slaughtering, Gutting, Scaling, Filleting, Skinning, Smoking, Curing & Filling), End Product, Seafood Type, Region -Global Forecast to 2023″, The processed seafood market is projected to reach USD 267.3 billion by 2023, at a CAGR of 5.2% from 2018. The seafood processing equipment market is projected to grow from USD 1.4 billion in 2018 to USD 1.9 billion by 2023, at a CAGR of 5.6% during the forecast period.
By type, the fish segment is projected to be the largest revenue contributor in the processed seafood market during the forecast period.
The perishable attributes of fishes make it imperative for fisheries and harvesters to process them. The major types of processed fishes available in the market include dried, salted, fermented, and smoked. The initial phases of fish processing include washing, degutting, salting, fermentation, drying, and smoking. These processes then contribute to the development and changes in the flavor, texture, and color, and also improves its shelf life. An increase in the demand and trade of processed fish products are factors that are further projected to drive the growth of this market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=10805180
Increased demand for slaughtering equipment that does not degrade the quality of seafood products is a key factor, due to which the segment is projected to account for a larger market share during the forecast period in the seafood processing equipment market.
Of the various equipment type, the market is estimated to be dominated by the slaughtering segment in 2018. There are different types of fish slaughtering equipment available in the market, which include electric, manual, automatic, and semi-automatic. While all these equipment types have specific usages, slaughtering equipment are majorly adopted by manufacturers of processed seafood products, on the basis of the type of fish cuts required. There are four common types of fish cut, namely, round cut, contoured cut, straight cut, and slant cut. During the slaughter process, the quality of various types of seafood such as salmon degrade. In such cases, manufacturers use equipment that protects these products from deterioration in quality by using humane techniques of stunning and bleeding. Therefore, it remains imperative for manufacturers to use proper fish slaughtering equipment, to enable superior quality processed seafood products.
The Asia Pacific is projected to account for the largest market share in the processed seafood market during the forecast period.
Europe is estimated to account for the largest market share in 2018. The Asia Pacific region includes countries such as China, Japan, Vietnam, and Thailand. The seafood processing market is also witnessing one of the fastest-growing food processing sectors in this region. The processed seafood industry in the Asia Pacific region is witnessing growth due to the busy lifestyles of customers. The processed seafood market in the region is also currently undergoing a significant transformation in response to rapid urbanization and diet diversification. In addition, consumer demands for convenience and processed seafood provide prospects for the growth and diversification in the region’s food sector.
Major vendors in the global processed seafood market are Middleby Corporation (US), GEA Group Aktiengesellschaft (Germany), and John Bean Technologies Corporation (US). Some of the other players that hold a significant share in the market include Marel hf. (Iceland), the BAADER-Group (Germany), Uni-Food Technic A/S (Denmark), Skaginn 3X (Iceland), Arenco AB (Denmark), Zhengda Food Machinery Co. Ltd (China), and KROMA A/S (Denmark). The major vendors in the global seafood processing equipment market are Charoen Pokphand Foods Plc. (Thailand), Maruha Nichiro Corporation (Japan), and Nippon Suisan Kaisha, Ltd. (Japan). Some of the other players that hold a significant share in the market include Thai Union Frozen Products Public Company Limited (Thailand), Mowi ASA (Norway), Leroy Seafood Group ASA (Norway), Nueva Pescanova Group (Spain), High Liner Foods Inc (Canada), Royal Greenland A/S (Denmark), and Clearwater Seafoods Incorporated (Canada).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Company Name: MarketsandMarkets
Contact Person: Mr. Sanjay Gupta
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States