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
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.