Seafood Processing Machinery Market by Machinery Type and Distribution Channel - Global Industry Analysis and Forecast To 2023
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A research study titled, “ Seafood Processing Machinery Market by Machinery Type and Distribution Channel - Global Industry Analysis and Forecast to 2023” published by Crystal Market Research, states that the Seafood Processing Machinery Market is projected to be around $1.89 billion by 2023.
The Seafood Processing Machinery Market was worth USD 1.28 billion in the year of 2014 and is expected to reach approximately USD 1.89 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.39% during the forecast period. Seafood processing is a method linked with various types of oceanic animals, from the time they are caught to the time they are harvested. Also, the final moment when the product is delivered to the customer. Bigger fish processing companies generally function their farming operations or fishing fleets. Seafood processing can be sub categorized into fish handling which is initial handling of raw fish, and the manufacture of fish products. A major concern of seafood processing is to keep fish from decaying and this remaining parts a fundamental concern amid other processing operations. Specialists have discovered that disposed of fish by-products contain gelatin, bioactive peptides, collagen, and different mixes, which can be utilized as a part of the biomedical, sustenance, and beauty care products industries.
The global Seafood processing machinery market is driven by rising health awareness, shifting pattern of customers towards healthy food products, growing disposable income of the population, and convenient accessibility of various fish species. The end-use sectors have been focusing on providing high quality products on account of shifting preference of consumers towards longer shelf life and healthy seafood. This is foreseen to bring about high seafood processing machinery requirement over the following years. In Addition, increasing issues about added substances used in such food products and safe disposing of by-products to put off natural defilement hinder the development of this market. Furthermore, scales, bones, and fish skin being significant sources of gelatin, collagen, calcium phosphate, and other vital organic and inorganic components can be used as a part of covering bases and soil treatment.
On the basis of machinery type the seafood processing machinery market is segmented into scaling machines, gutting machines, filleting machines and slaughter machines. On the basis of distribution channel the market is segmented into food specialty stores, supermarkets, hypermarkets and convenient stores. The leading players in the market are GEA Group, Royal Greenland, Pescanova, Manitowoc Cranes, Seattle Fish Company, Tesco PLC, Freiremar S.A, Marine Harvest, Seattle Fish Company and Nordischer Maschinenbau Rud. Baader Co. Geographixcally, the market is segmented into Asia Pacifc, North America, Europe and Rest of the world.
Key findings of the Seafood Processing Machinery market
- North America developed as the major regional market due to advancements in technology combined with high capital investments. Europe is anticipated to encounter slow market growth over the estimate time frame due to stagnant end-use industry development in the area.
- Latin America and Asia Pacific are anticipated to encounter considerable market development due to rising per capita disposable income and shifting consumer preference. Growing non vegan population and preference towards healthy food is foreseen to positively affect market in Asia Pacific over the estimate time frame.
- Rising consumer willingness to pay for high quality sea food is foreseen to boost market development over the forecast period. High equipment and raw material handling expense is foreseen to hinder market development and pose challenges to industry players over the estimate time frame.