Fish Processing Equipment Market: Introduction
The fish processing equipment market is anticipated to show significant growth during the forecast period. Increase in disposable income surges purchasing power of consumers. Furthermore, rise in urbanization, population, and health awareness uplifts the fish processing equipment market growth. Moreover, strict government regulations regarding food and beverages are anticipated to influence the overall fish processing equipment market.
Consumption of seafood shows significant growth every year. Also, the need for food increases with growing population. These factors propel the global market forward. Increase in health awareness and benefits of seafood in Europe, North America, and several emerging countries across Asia Pacific is expected to further drive the fish processing equipment market in the near future.
Key Drivers of the Global Fish Processing Equipment Market
- According to data published by the Food and Agriculture Organization (FAO), 15% of the global supply of animal proteins is derived from seafood. Global demand for seafood is witnessing massive growth. This encourages producers to scale up their production with the help of efficient equipment.
- Increase in health conscious consumers in several regions, mainly in North America and Europe, is expected to boost the demand for fish processing equipment. Moreover, rise in preference for safe, fresh-tasting, and nutritive foods manufactured without the use of chemical preservatives is anticipated to influence the overall market.
- Rise in demand for fish and other seafood products coupled with growing investments in automation technologies in food processing is expected to surge the market growth in the near future. Furthermore, increase in automation coupled with easy availability of processing equipment is a major factor responsible for expansion of the fish processing equipment market.
Fish Processing Equipment to Create Attractive Opportunities in Future
- Growing market in several emerging countries is anticipated to be a supportive factor for seafood producers in the next few years. Rise in demand for seafood encourages seafood producers to increase their production with efficient manufacturing process to maintain production cost. This is also expected to lead to technological advancements in fish processing equipment. All these factors are expected to create lucrative opportunities in the next few years.
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Lack of Information and High Capital Investment to Hinder Market
- Several countries still have very less knowledge regarding technological development and advancement in the processing food industry due to lack of availability of information. Also most of the fish processing equipment requires high capital investment which is very expensive for small and mid-range consumers.
Asia Pacific to Dominate the Global Market during the Forecast Period
- Asia Pacific is the major shareholder in the global fish processing equipment market. Increase in population and disposable income of people boosts the demand for processed foods. Several emerging and developed countries across Asia Pacific such as Japan, China, India, and several countries in Southeast Asia are anticipated to show significant growth in seafood production which is likely to be an encouraging factor for fish processing equipment manufacturers.
- Increase in demand for seafood and rise in automation within the processing industry are major factors driving the fish processing equipment market in Europe and North America.
Key Players Operating in the Global Market
The global fish processing equipment market is moderately concentrated across major manufacturers accounting for around 15% to 20% share of the overall fish processing equipment market. A few of the key manufacturers operating in the global fish processing equipment market are:
- FREIREMAR, SA
- GEA Group Aktiengesellschaft
- KM Fish Machinery AS
- Leigh Fisheries Ltd
- Pisces Fish Machinery Inc.
- Shanghai Arenco Machinery Co., Ltd
- Skaginn 3X
- The Middleby Corporation
- Uni-Food Technic A/S
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Global Fish Processing Equipment Market: Research Scope
Global Fish Processing Equipment Market, by Equipment Type
- Others (Filling, Gutting etc.)
Global Fish Processing Equipment Market, by Application
- Others (Sea Squirts etc.)
Global Fish Processing Equipment Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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