Seafood Processing Market Outlook
Seafood Processing Market size is projected to grow, registering a CAGR of 5.8% to reach a value of approximately USD 2.3 Billion by 2025. The expansion of the seafood industry is driving the growth of the global seafood processing market with a focus on innovation and technological advancements. Seafood processors are investing significantly in seafood processing machines to increase production efficiency and minimize waste during the processing of seafood. The health-conscious population is inclined toward the consumption of seafood over other animal proteins owing to its benefits. With the changing lifestyles of consumers, the demand for convenience food is increasing rapidly across the globe. Consumers are opting for processed seafood with a long shelf life. Moreover, the increasing application of seafood processing by-products in industries such as animal feed and pet food is contributing to the growth of the seafood processing market. Chitin and chitosan, processed from shrimp, crab, and other crustacean waste, are by-products of high economic value. Also, stringent regulations in favor of food safety and quality are contributing to the growth of the seafood processing market Analysis.
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Key Players Seafood Processing Market Following Way
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.
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
Market Segmentation
The segment study of the seafood processing market is done by category, equipment type, and seafood type.
The equipment type-based segments of the seafood processing market analysis 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 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 can expand at high pace in the review tenure.
The seafood type-based segments of the seafood processing market analysis 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.
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