DUBLIN, June 22, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Fish Processing Market by Category (Frozen, Preserved, Others), Species (Fish, Crustaceans, Mollusks, Others), Application (Food & Non-food), Source (Marine & Inland), Equipment, and by Region - Global Forecast to 2021" report to their offering.
The global market for fish processing has been growing steadily during the last few decades. In terms of value, the market is projected to reach USD 222.71 Billion by 2021, at a CAGR of 3.8% from 2016 to 2021 and is projected to reach 37,194.98 KT in terms of volume by 2021, at a CAGR of 2.2%.
The fish processing market was dominated by the Asia-Pacific region in 2015. It is projected to be the fastest-growing market from 2016 to 2021. Economic growth and the shift of the preferences of the consumers toward value-added processed fish products have led to the market growth in this region. In Europe, countries such as Germany, U.K., France, Italy, Portugal, and Poland have shown increment in the capture rate of marine fish catering to the increased demand for processed fish products.
The increasing prices of raw materials are adversely affecting the fish processing industry. The raw materials used in fish processing are a variety of fishes and other marine products. The prices of these raw materials are rising owing to the increase in the cost of aquaculture. Feed is the main input for any aquaculture and the prices of feed are continuously increasing due to which aquaculture is costly to maintain.
The key players in this market have adopted various strategies to expand their global presence and increase their market share. Partnerships, agreements, collaborations, acquisitions, and new product launches are some of the key strategies adopted by market players to achieve growth in the global fish processing industry. The rising demand for processed fish products as well as high growth rate of fisheries and aquaculture in emerging countries has encouraged companies to adopt these strategies.
Market players are focusing on entering into collaborations to share technical know-how related to biotechnology that can improve marine productivity. Charoen Pokphand Foods PCL (Thailand), Maruha Nichiro Corporation (Japan), and Nippon Suisan Kaisha, Ltd. (Japan) are some of the leading market players that adopted this strategy in order to develop their business.
Based on fish processing Category, the market has been segmented as follows:
- Others (which includes cured, dried, smoked, salted, and surimi)
Based on Application, the market has been segmented as follows:
Based on Source, the market has been segmented as follows:
Based on Species, the market has been segmented as follows:
- Others (which includes turtles and urchins)
Based on Equipment, the market has been segmented as follows:
- Curing & Smoking
- Others (which includes packing and storing machines)
- Charoen Pokphand Foods PCL - High Liner Foods Incorporated
- Leroy Seafood Group ASA
- Marine Harvest ASA
- Maruha Nichiro Corporation
- Nippon Suisan Kaisha, Ltd.
- Norway Pelagic ASA - Pesconova S.A.
- Royal Greenland A/S
- Thai Union Frozen Products Public Company Limited
For more information visit http://www.researchandmarkets.com/research/qqhlm2/fish_processing
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SOURCE Research and Markets