New York, US, June 29, 2021 (GLOBE NEWSWIRE) -- Seafood Processing Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Seafood Processing Market Information by Equipment Type, Category, Seafood Type, and Region - Forecast till 2025,” the market is estimated to reach USD 2.3 Billion by 2025 by 5.8% CAGR.
Future Market Growth Factors:
Rising number of rigid regulations introduced by governments with regard to food and related industries have shifted consumers’ focus on seafood. Increase in disposable income, expanding population, surging urbanization, and growth in health awareness are a few other key market boosters. Accelerated preference for healthy yet tasty food among the booming global population and the rising need to cater to the increasing nutrition requirements should benefit the global industry in the years ahead. This scenario has been compelling the food processing industry to look for new and advanced techniques for enhancing seafood production. The dramatic rise in health awareness in Europe as well as North America combined with the expanding consumer base in Asia Pacific will also foster further business growth.
A significant opportunity in the global market will be the soaring number of non-vegetarians increasingly opting for a diet that is pescatarian. Pescetarianism can be described as the consumption of vegetarian food as well as seafood without the intake of any meats like pork, beef, and others. This consumer shift can be part of the emerging trend of healthier diet, further bolstered by the improving economic status and the surge in disposable income. This emerging trend is bound to work in favor of the seafood processing market to a large extent. Optimistic trading scene worldwide coupled with the spike in fish production as well as the thriving aquaculture industry in various countries should also present a substantial traction to the global market.
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Key Players Locking Horns:
Technological innovations coupled with the introduction of advanced seafood processing equipment with an array of applications and improved features by players have intensified the level of competition in the worldwide industry. Further, most of the companies concentrate on fostering their product portfolio, while also employing strategies such as acquisitions, mergers, and partnerships, to capture a higher share in the global market.
Some of the Major Manufacturers of Seafood Processing Equipment and machines across the globe are:
- KROMA A/S (Denmark)
- GEA Group (Germany)
- Optimar AS (Norway)
- Uni-Food Technic A / S (Denmark)
- Baader Linco Inc. (US)
- Pisces Fish Machinery Inc. (US)
- JBT Corporation (US)
- Skaginn 3X (Iceland)
- Arenco AB (Sweden)
- Zhengda Food Machinery Co.,Ltd (China)
- The Middleby Corporation (US),
- Seafood Technology Limited (UK)
- Marel (Iceland)
- SEAC AB (Sweden)
- T.C. Food Equipment, Inc. (US)
Browse In-depth Market Research Report (90 Pages) on Seafood Processing: https://www.marketresearchfuture.com/reports/seafood-processing-market-8612
Market Segmentation:
To offer better understanding of the worldwide market, the key segments analyzed in the report are equipment type, category, and seafood type.
Equipment types considered in the market study include sealing equipment, gutting equipment, deboning equipment, filleting equipment, and more. Filleting equipment is on track to be the fastest advancing segment in the global market, owing to the escalating consumption of processed seafood in fillet-form. Apart from this, majority of the companies are focused on product innovation with regard to filleting equipment, which have several functions.
Category-wise, the major segments are single-function equipment as well as multi-function equipment. A higher growth rate will be secured by the multi-function equipment segment, primarily owing to the large-scale spending by leading seafood processing firms on technologically enhanced equipment that perform several tasks.
With respect to seafood type, the segments are crustaceans, fish and mollusks. Fish segment is set to procure the leading spot in the global market over the review timeframe, given the high production as well as availability of different types of fish that are consumed by consumers worldwide.
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Regional Status:
Europe, America and Asia Pacific or APAC along with RoW or Rest of the World are the major markets for seafood processing worldwide.
Asia Pacific has stayed ahead of other regions in the global market for seafood processing since 2018 and could also procure the fastest growth rate in the years to come. The market’s significant growth is the result of the strong presence of a thriving aquaculture sector in India, Vietnam, Bangladesh and China, while the improving economic status in the region with huge investments in research and technology also act as a business booster. The region has been witnessing significant transformations in its food and beverage sector, in line with aspects such as economic growth as well as rising urbanization rate. Evolving diet habits and the surging preference for processed and convenience seafood among consumers are touted to be lucrative opportunities in the near future.
The European market benefits from the rising uptake of automated equipment in the food processing industry, in order to cater to the soaring popularity of various seafood specialties among consumers. In view of the surging popularity of seafood among the mass, key manufacturers are increasingly taking up advanced equipment to leverage the opportunities and bolster the sales. A number of automated factories are working on elevating their automation level, while already automated firms are expected to adopt hands-free processing and robotics to ramp up their market positions in the region.
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