According to the report published by Zion Market Research, the global Processed Seafood & Seafood Processing Equipment Market size was valued at USD 269.2 Billion in 2023 and is predicted to reach USD 420.5 Billion by the end of 2032. The market is expected to grow with a CAGR of 5.20% during the forecast period.
Protein, omega-3 fatty acids, vitamins, and minerals found in seafood are good for the heart, eyesight, and brain function. The many seafood processing tools, such as filleting, help produce high-quality processed frozen seafood products with enhanced flavor and extended shelf life. The aquatic animals and marine life are housed in fish factories where they are processed into frozen and canned seafood utilizing equipment and technologies for food processing, including gutting, slaughtering, and other procedures.
The rise in seafood trade and the rising global consumption of processed seafood are the main factors driving the expansion of the processed seafood and seafood processing equipment industries. According to the UN Food and Agriculture Organization, skilled workers often use a range of knives to manually process freshwater fish. In small processing factories, this is common. The need for automated technology in large processing units to produce high-quality outputs quickly is what drives the processed seafood and seafood processing equipment industries.
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Market Trends for Seafood Processing Equipment:
Processing seafood produces a large volume of wastewater with comparatively high levels of total suspended solids (TSS) and biological oxygen demand (BOD). This is one of the main reasons behind the increased need for seafood processing equipment in order to meet strict food waste disposal laws and manage product odors from cooking and storage.
Further driving the global demand for seafood products is the changing lifestyles and growing health consciousness of people, all of which are factors in the market expansion. In addition, the general public’s spending power, the growing trend of “pet humanization,” and pet owners’ worries about their animals’ welfare are all favorably impacting the uptake of wholesome pet food that contains seafood.
Furthermore, the usage of automated equipment is becoming more popular as a way to handle complex production activities and enable the necessary food quality. These improvements in seafood processing technology and improved packaging options come at a rapid pace. Moreover, a number of prominent companies are funding research and development (R&D) endeavors in order to provide novel designs with improved capacities, which is anticipated to boost the global market for seafood processing equipment.
Drivers of the Global Market for Processed Seafood and Seafood Processing Equipment
Numerous factors may have an impact on the market drivers for the processed seafood and seafood processing equipment market. These could consist of:
Growing Demand for Processed Seafood: Changing dietary and lifestyle preferences, as well as a growing demand for quick and ready-to-eat seafood products, are all driving the market for processed seafood. Because processed seafood has a longer shelf life, is easier to store, and is available in a variety of gourmet selections, it appeals to busy consumers searching for quick and healthful dinner options.
Raising Conscience About Health As consumers focus more and more on their health and fitness, they are turning to seafood as a source of lean protein, omega-3 fatty acids, vitamins, and minerals. Health-conscious consumers can opt for convenient and high-nutrient seafood options such as canned tuna, smoked salmon, and frozen shrimp when including seafood in their diet.
Development of the Foodservice and Hospitality Sector: The growth of this industry, which encompasses quick-service restaurants, lodging facilities, catering services, and dining establishments, is what drives the demand for processed seafood products. These restaurants use processed seafood as ingredients in a variety of menu items, appetizers, entrees, and sushi rolls, catering to a wide range of client tastes and culinary trends.
Technological Advancements in Processing Equipment: Automated sorting, cutting, filleting, and packing equipment enables constant advancements in processing efficiency, product quality, and food safety regulations. Seafood processors use innovative equipment solutions because they increase output, lower labor costs, eliminate product waste, and guarantee regulatory compliance.
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Increased Focus on Food Safety and Quality Control: Strict regulations and guidelines pertaining to food safety, hygiene, and quality control serve as the driving force behind investments in state-of-the-art processing technology and apparatus. Processed seafood processors prioritize equipment with hygienic design, sanitation features, traceability, and real-time monitoring capabilities to meet consumer expectations for safe and high-quality goods and to ensure compliance with food safety requirements.
Growing Seafood Trade and Globalization: The globalization of supply chains and seafood trade facilitates the dissemination of processed seafood products across international markets. Seafood exporters benefit from advancements in cold chain logistics, packaging, and processing technology, which enable them to meet the diverse preferences of consumers worldwide and take advantage of opportunities in emerging markets.
Sustainability measurements and ethical fishing practices: Consumer awareness and regulatory actions that promote ethical fishing practices and sustainable seafood procurement have an impact on consumer purchasing decisions. Processed seafood processors prioritize working with certified fisheries, using environmentally friendly processing methods, and providing clear labeling to meet consumer demand for sustainably derived and environmentally conscious seafood products.
Processed Seafood & Seafood Processing Equipment Market: Competitive players
The key players for the global processed seafood & seafood processing equipment market are :
- Freiremar S.A.
- Leigh Fisheries Ltd.
- Marine Harvest ASA.
- Wm Morrison Supermarkets plc
- Lee Fishing Company
- Seattle Fish Company
- Tesco PLC.
- Thai Union Group
- Royal Greenland A/S
- John Westfoods Ltd.
- Abba Seafoods AB
- Cuulong Fish JSC.
The Global Processed Seafood & Seafood Processing Equipment Market is segmented as follows:
By Product
- frozen
- canned
- dried
- smoked
- and others such as surimi
By Type
- fish
- crustaceans
- molluscs
By Distribution channel
- supermarkets
- convenient stores
- hypermarkets
- food specialty stores
- and others
By Process equipment
- gutting machines
- filleting machines
- slaughter machines
- scaling machines
- and others
Global Processed Seafood & Seafood Processing Equipment Market: Regional Segment Analysis
- North America U.S.
- Europe UK France Germany
- Asia Pacific China Japan India
- Latin America Brazil
- Middle East and Africa
Market Challenges for Processed Seafood and Seafood Processing Equipment
Increasing Environmental Apprehensions
The market for seafood processing equipment is probably going to be constrained by growing worries about the safety and quality of seafood due to differences in food regulations both within and between countries. Furthermore, because a variety of artificial and natural factors might affect the source of raw fish, frozen seafood, and seafood, producers have little control over these inputs. It has to do with ocean contamination, which is why products made in particular water bodies are forbidden.
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Regulating the environment alone will, regrettably, not ensure adequate supply levels because not all environmental risks are human-driven. Weather patterns that can change, making it more challenging to catch wild fish, and natural disasters that can kill fish further hinder the growth of the processed seafood and seafood processing equipment markets.
Market Overview for Processed Seafood and Seafood Processing Equipment:
Product launches, joint ventures, acquisitions, and global expansion are a few of the primary tactics used by the processed seafood and seafood processing equipment market. Among the top ten companies in the Processed Seafood & Seafood Processing Equipment market are Lee Fishing Filleting Company, Thai Union Group, John Westfoods Ltd., Middleby Corporation, Royal Greenland A/S and Maine Harvest ASA; Freiremar S.A., Leigh Fisheries Ltd., Wm Morrison Supermarkets plc, Seattle Fish Company, Abba Seafoods AB, and Cuulong Fish JSC.
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