According to the current analysis of Reports and Data, the global Processed Seafood Seafood Processing Equipment market was valued at USD 2.1 Billion in 2019 and is expected to reach USD 3.98 Billion by the year 2027, at a CAGR of 6.1%. Seafood comprises of all bony fishes, mollusks and shellfishes. Millions of people across the globe depend on these as their primary nutrient source. Health benefits provided by these foods are the major reason for their increasing demand. It is a good source of protein and contains less fat as compared to other animal protein sources. It is highly beneficial for heart patients on account of its low cholesterol. Additionally, it contains essential vitamins necessary for human bodies such as vitamin B, iodine, zinc, and potassium. A rise in disposable income has led to high demand for these products in developing economies.  Growing heart diseases and cholesterol has urged people to shift to more nutritious and healthy products for consumption. Moreover, increasing awareness regarding the benefits of aquatic food items coupled with the introduction of new processing techniques is expected to drive the industry for processed seafood equipment. Increasing investments and expansion of the seafood processing industry is expected to drive the growth for processed seafood market. 

Top Companies Operating in the Global Processed Seafood and Seafood Processing Equipment Market Report:

Middleby Corporation (US), GEA Group (Germany), John Bean Technologies Corporation (US), The BAADER-Group (Germany), Grieg Seafood, Skaginn 3X (Iceland), Guolian Aquatic Products, Zhengda Food Machinery Co. Ltd (China), Marine Harvest and Thai Union Frozen Products.

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Further key findings from the report suggest

• This sector converts the whole fish or shellfish caught by the fishermen or produced through aquaculture operations into consumable items that are sold in the retail stores and restaurants.
• This industry is growing at a CAGR of 6.2% in the Asia Pacific followed by Europe and North America, with 5.5% and 5.4% CAGR, respectively. High demand for processed and canned aquatic food products due to the changing lifestyle coupled with increasing health concerns is expected to drive the growth for seafood processing equipment.
• As of 2018, the Fish product segment is the dominating sub-segment in the Seafood Processing Equipment which holds 44.1% of the global market. Asian Pacific regional market is the chief revenue-generating source for this product segment, followed by Europe and North America regions.
• The commercial segment consumed by Americans primarily came from three major different sources: U.S. commercial fisheries, U.S. aquaculture production, or imports brought into the U.S. from other countries.
• Around 50% of the fish caught in the U.S regions were from the Pacific Ocean within the Alaska region and consisted of Pacific cod, flounders, hake, ocean perch, Alaska pollock, and rockfishes.
• Consumers in the U.S. spend around two-thirds of their annual expenditure on buying aquaculture food substances either from the retail stores, in restaurants or other types of foodservice businesses.
• According to the Seafood Health Facts organization, the total value of imported edible and non-edible fish products was USD 38.4 billion in 2017, an increase of USD 2.5 billion (7.0%) was observed as compared to the imports of 2016.
• Among the developing countries of Asia Pacific, China is the largest producer of aquatic food items in the world and is followed by India, Vietnam, and Bangladesh.
• Despite variation in the availability of these products in different regions of the world, a wide range of options are available to the consumers, which is expected to drive the demand for this industry.
• Increasing research activities coupled with increased funding is expected to drive the demand for seafood processing equipment. For instance, on May 24, 2019, a research institute for fisheries products, published that a stockfish can be stored longer than 2 years if it is stored in dry and cool conditions.
• Various strategies are used for enhancing the smell, texture, taste, and flavor of fish products to increase the consumption of aquaculture food items among the population. For instance, according to research conducted by Nofima AS company, the unpleasant smell and flavor of the raw fish can be removed by using the lactic acid fermentation process.

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To assist readers in making profitable business decisions, the report is written with the help of industry analysts, market segmentation, and data collection. In addition to providing a comprehensive database of technological and product advances, the report provides detailed information on growth rates, market values, as well as niche market segments.

This report analyzes the Processed Seafood and Seafood Processing Equipment market in terms of growth rate, market share, current and emerging trends, production and consumption ratios, industrial chains, demand and supply, imports, exports, revenue contribution, and key player presences in key regions. As a part of the report, a country-by-country analysis of the Processed Seafood and Seafood Processing Equipment market is provided to gain a deeper understanding of its growth and progress.

The global Processed Seafood and Seafood Processing Equipment market is segmented into:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Further market segmentation

Type (Revenue, USD Million; 2017–2027)

• Fish
• Crustaceans
• Mollusks
• Others

Equipment Type (Revenue, USD Million; 2017–2027)

• Slaughtering
• Gutting
• Scaling
• Filleting
• Others

Product Type (Revenue, USD Million; 2017–2027)

• Frozen
• Smoked
• Canned
• Dried
• Others

End Use (Revenue, USD Million; 2017–2027)

• Hypermarkets
• Supermarkets
• Food Specialty Stores
• Convenient Stores
• Others

Key Questions Addressed in the Report:

• What are the dominating factors that are influencing the growth of the industry?
• In the forecast period, which market segment is expected to rise the most?
• What are the risks and challenges that the industry is facing?
• In the coming years, which area is projected to dominate the market?
• Who are the major players in the market? What kind of strategic business plans have they made?

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