Seafood Processing Market Outlook
Market Research Future (MRFR) studied the worldwide seafood processing market 2021 within the study period till 2025. MRFR data suggests that the worldwide seafood processing market is predicted to rise at 5.8% CAGR within the study period (between 2019 and 2025). By 2025, the seafood processing market industry is probably going to value at approximately USD 2.3 Billion.
Market Drivers and Restrains
The expansion of the seafood processing market is often attributed to the surge in demand for processed seafood. The rapid expansion of the aquaculture industry with the adoption of advanced pisciculture solutions by the industry can contribute to the expansion of the seafood processing market.
The growing preference for seafood cuisine also can benefit the market within the years to return . Leading seafood processors are investing within the adoption of high-quality processing equipment to suits food quality regulations in several countries and ensure food safety. The surge in demand for convenience foods, like frozen, canned, and smoked seafood, among the massive base of execs can provide thrust to the seafood processing market upsurge. Moreover, the surge within the consumption of protein-rich seafood among the fitness-conscious people is probably going to profit the market. On the flip side, the need for top capital investments in seafood processing business can restrain the market rise.
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Regional Analysis
In North America, the surge in sales of canned and frozen fish fillets due to their convenience can drive the regional processed seafood market in the study term. The growth of North America seafood processing market can be attributed to the growing preference for seafood cuisine and their increasing sales in fillets form. The availability of effective seafood processing infrastructure equipped with effective filleting equipment machinery can prompt the regional market in the study period.
In Europe, the availability of robust seafood processors infrastructure empowered with multi-function equipment can boost expansion of the market soon. The inclination of seafood processors towards the adoption of automation solution can
Key Players
Pisces Fish Machinery Inc. (US), Optimar AS (Norway), Uni-Food Technic A / S (Denmark), GEA Group (Germany), Marel (Iceland), The Middleby Corporation (US), Baader Linco Inc. (US), SEAC AB (Sweden), Arenco AB (Sweden), JBT Corporation (US), Skaginn 3X (Iceland), Zhengda Food Machinery Co.,Ltd (China), Seafood Technology Limited (UK), T.C. Food Equipment, Inc. (US), and KROMA A/S (Denmark) are some key players in the seafood processors market that are listed by MRFR.
Market Segmentation
The segment study of the seafood processing market industry is done by category, equipment type, and seafood type.
The equipment type-based segments of the seafood processing market are deboning equipment, scaling equipment, gutting equipment, and filleting equipment among others. The filleting equipment segment is likely to surge at rapid pace during the review period owing to the surge in preference for processed seafood in fillets forms. In addition, the growing focus of key players on several innovations is creating the need for installing filleting equipment that can favor expansion of the market.
The category-based segments of the seafood processing market industry are Single-Function Equipment and Multi-Function Equipment. The multi-function equipment segment of the market is expected to register a decent CAGR in the review period owing to upsurge in investments by companies dealing in seafood processing. The rise in focus of seafood processor companies in increasing production efficiency and their inclined toward automated solutions can serves multiple functions can prompt the market rise soon. The multi-function equipment segment of the worldwide seafood processing market industry can expand at high pace in the review tenure.
The seafood type-based segments of the seafood processing market are fish, mollusks, and crustaceans among others. The fish segment is anticipated to dominate the worldwide seafood processing market through the forecast tenure. The availability and production of a wide variety of fish for the consumption of humans can driving the market segment.
support the regional market. The increase in demand for processed food among people due to time constraints and intensifying competition among regional players can also benefit the market soon, as suggests by MRFR study.
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