The demand for seafood products and food in general, is high in developed as well as in developing regions. This factor is expected to boost the global seafood processing equipment market by 2025. Government regulations to safeguard the manufacturing processing and to provide a framework for hygiene and standardization of products are anticipated to enhance business growth over the forecast period.
The Global Seafood Processing Equipment Market size is expected to value USD 2.51 million by 2025 at a 3.2% CAGR over the forecast period 2025.
Increasing demand for fish and other seafood products with increasing investments to manufacture efficient units is predicted to encourage market growth in near future. Increasing industrial automation rate coupled with easy availability of these units is predicted to encourage expansion of the market for seafood processing equipment over the forecast years.
In terms of product, frozen seafood emerged dominant in 2017. It is forecasted to expand at a CAGR of 1.8% over the forecast period owing to advancements in processing technologies. Frozen seafood is expected to ramp up the production of seafood processing equipment over the next decade owing to the exponential growth in demand, particularly from Asia Pacific and Africa. However, canned seafood is expected to emerge as the fastest growing product segment with a CAGR of 3.6% over the forecast period.
In terms of equipment, scaling equipment emerged dominant with a market share of over 22.07% in terms of value in 2017. It is expected to be the fastest growing segment with a CAGR of 3.8% over the forecast period.
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Recent advancements in the machine and equipment sector are expected to revolutionize the industry and boost the market share further in the forthcoming years. It is expected to dominate the equipment segment of seafood processing equipment in the year 2017.
Top Players of Seafood Processing Equipment Market:
BAADER Group., GEA Group Aktiengesellschaft, Arenco AB, Marel, Uni-Food Technic A/S, SEAC AB, and Polar Systems Ltd. are some of the key players operating in the market.
Market Segmentation of Seafood Processing Equipment Market:
The Global Seafood Processing Equipment Market segmented on the basis of Product, Equipment Type, and Region.
By Type:
Slaughtering
Gutting
Scaling
Filleting
By Product:
Frozen
Smoked
Canned
Dried
By Region:
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa
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