Processed Seafood & Seafood Processing Equipment: Industry Forecast to 2023 - Advancements in Seafood Processing Technologies Creating Opportunities
DUBLIN, May 13, 2019 /PRNewswire/ -- The "Processed Seafood & Seafood Processing Equipment Market by Type (Fish, Crustaceans, Mollusks), Equipment Type (Slaughtering, Gutting, Scaling, Filleting, Skinning, Smoking, Curing & Filling), End Product, Seafood Type, Region-Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global seafood processing equipment market size is projected to grow from USD 1.4 billion in 2018 to USD 1.9 billion by 2023, at a CAGR of 5.6% during the forecast period. The global processed seafood market size is projected to grow from USD 207.6 billion in 2018 to USD 267.3 billion by 2023, at a CAGR of 5.2% during the forecast period.
The processed seafood & seafood processing equipment market is driven by factors such as growth in the aquaculture industry, the rise in the seafood trade, increased consumption of processed seafood products, and increased health consciousness among consumers. However, the requirement of capital investment, along with a low replacement frequency of this equipment is projected to hinder the growth of the market.
The fish segment is estimated to dominate the processed seafood market in 2018
The fish segment is estimated to account for the largest share in 2018, in terms of value. The market for processed fish is estimated to dominate the processed seafood market in 2018. The initial phases of fish processing include washing, degutting, salting, fermentation, drying, and smoking. These processes further contribute to the development and changes in the flavor, texture, and color of processed seafood products, and improve its storage characteristics. The increasing demand for processed seafood products is projected to further encourage innovations in the processing of fish products.
The slaughtering equipment segment is projected to account for the larger market share during the forecast period for the seafood processing equipment market
The slaughtering equipment segment is estimated to dominate the seafood processing equipment market in 2018. The smoking, curing, & filling segment is projected to be the fastest-growing segment in the market during the forecast period. The increasing demand for processed seafood products and the growing adoption of automated processing equipment have driven the growth of the seafood slaughtering equipment market.
The Asia Pacific is projected to be the fastest-growing region in the processed seafood market
The Asia Pacific market accounted for the largest share in 2017. The market in this region is mainly driven by the growth in the China and Vietnam markets. The market in this region is driven by high production levels of seafood in the region, which leads to an increased demand for seafood and encourages exports and consumption, resulting in the increased growth potential for processed seafood products. Furthermore, South East Asian countries are also the major consumers of exotic seafood products such as urchins and turtles, which makes them substantial shareholders in the market.
The processed seafood market comprises major manufacturers such as the Middleby Corporation (US), GEA Group Aktiengesellschaft (Germany), John Bean Technologies Corporation (US), Marel hf. (Iceland), the BAADER-Group (Germany), Uni-Food Technic A/S (Denmark), Skaginn 3X (Iceland), Arenco AB (Denmark), Zhengda Food Machinery Co. Ltd (China), and KROMA A/S (Denmark).
The seafood processing equipment market comprises major manufacturers such as Charoen Pokphand Foods Plc. (Thailand), Maruha Nichiro Corporation (Japan), Nippon Suisan Kaisha, Ltd. (Japan), Thai Union Frozen Products Public Company Limited (Thailand), Mowi ASA (Norway), Leroy Seafood Group ASA (Norway), Nueva Pescanova Group (Spain), High Liner Foods Inc (Canada), Royal Greenland A/S (Denmark), and Clearwater Seafoods Incorporated (Canada).
The study includes an in-depth competitive analysis of these key players in the food diagnostics market, with their company profiles, recent developments, and the key market strategies.
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Seafood Processing Equipment: Markets Covered
1.3.2 Processed Seafood: Markets Covered
1.3.3 Geographic Segmentation
1.4 Periodization Considered
1.5 Currency Considered
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Secondary Data
2.2.1.Key Data From Secondary Sources
2.3 Primary Data
2.3.1.Key Data From Primary Sources
2.3.2.Breakdown of Primaries
2.4 Market Size Estimation for Seafood Processing Equipment
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Market Size Estimation for Processed Seafood
2.5.1 Bottom-Up Approach
2.5.2 Top-Down Approach
2.6 Data Triangulation for Seafood Processing Equipment
2.7 Data Triangulation for Processed Seafood
2.8 Assumptions
2.9 Limitations of Study
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Seafood Processing Equipment Market
4.2 Attractive Opportunities in the Processed Seafood Market
4.3 Seafood Processing Equipment Market: Major Countries/Regions
4.4 Processed Seafood Market: Major Countries/Regions
4.5 North America: Seafood Processing Equipment Market, By Type and Country
4.6 Asia Pacific: Processed Seafood Market, By Type and Country
4.7 Seafood Processing Equipment Market, By Seafood Type, 2018 vs. 2023
4.8 Processed Seafood Market, By Type, 2018 vs. 2023
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth of the Aquaculture Industry
5.2.1.2 Increased Seafood Trade
5.2.1.3 Increased Consumption of Processed Seafood Products
5.2.1.4 Increased Health Consciousness Among Consumers
5.2.2 Restraints
5.2.2.1 High Capital Investment With A Low Replacement Frequency
5.2.2.2 Declining Seafood Population Due to Overfishing
5.2.3 Opportunities
5.2.3.1 Advancements in Seafood Processing Technologies
5.2.3.2 Improved Packaging Solutions Resulting in Longer Shelf Life of Processed Seafood Products
5.2.4 Challenges
5.2.4.1 Food Safety and Regulatory Compliance Requirements
5.3 Supply Chain
5.4 Value Chain
5.5 Regulatory Framework
5.5.1 International Import Systems for Fish and Seafood
5.5.2 European Union
5.5.3 US
5.5.4 Canada
5.5.5 Japan
6 Processed Seafood Market, By Type
6.2 Fish
6.2.1 Growing Number of Innovations to Drive the Market Growth
6.3 Crustaceans
6.3.1 High Market Value Due to their Nutritional Advantages to Drive the Market Growth
6.4 Mollusks
6.4.1 Technological Advancements Used for the Decontamination of Shellfish Products is Projected to Aid Market Growth
6.5 Others
6.5.1 Low Requirement for Processing Results in A Lower Market Share for Segment
7 Processed Seafood Market, By End-Product
7.1 Introduction
7.2 Frozen
7.2.1 Better Logistical Equipment Helps Drive the Demand for Frozen Seafood Products
7.3 Dried
7.3.1 Improving Seafood Trade Helps Drive the Market for Dried Seafood Products
7.4 Smoked
7.4.1 Increasing Preference for Seafood Diet Among Consumers is Driving the Market for Smoked Seafood Products
7.5 Canned
7.5.1 Canned Seafood Products, Being A Preferred Consumer Choice, Aids Market Growth
7.6 Surimi
7.6.1 Multiple Product Usage of Surimi is Aiding the Market Growth
7.7 Others
7.7.1 Rising Demand for Rte Processed Seafood Products is Driving the Market Growth for Segment
8 Seafood Processing Equipment Market, By Type
8.2 Slaughtering Equipment
8.2.1 Different Types of Slaughtering Equipment Being Used in Accordance With Various Types of Seafood for Processing to Drive the Market Growth
8.3 Smoking, Curing & Filling Equipment
8.3.1 The Need for Achieving A Longer Shelf Life of Processed Sea Products is Projected to Drive The Market Growth
8.4 Gutting Equipment
8.4.1 The Adoption of Automated Gutting Equipment is Projected to Drive the Growth of Segment
8.5 Scaling Equipment
8.5.1 Ease of Operation of Automatic Equipment to Drive the Market Growth
8.6 Skinning Equipment
8.6.1 Operational Safety Associated With the Usage of Automatic Skinning Equipment to Drive the Market Growth
8.7 Filleting Equipment
8.7.1 Most Processed Seafood Products Being Offered in the Form of Fillets to Drive the Growth of This Segment
8.8 Deboning Equipment
8.8.1 Forming an Important Initiation Process for Filleting is Projected to Drive the Growth of the Deboning Segment
8.9 Others
8.9.1 Proper Packaging and Logistics Required for Processed Seafood Products to Drive the Market Growth
9 Seafood Processing Equipment Market, By Seafood Type
9.2 Fish
9.2.1 A Wide Variety of Fish Types and their Substantial Consumption Helps to Drive the Market for their Processing Equipment
9.3 Crustaceans
9.3.1 High Market Value Due to their Rarity Results in Driving the Market for Crustaceans
9.4 Mollusks
9.4.1 Necessitating the Processing of Mollusks has Helped Drive the Market
9.5 Others
9.5.1 Stable Consumption in the Asia Pacific Region is Projected to Drive the Market for This Segment
10 Processed Seafood Market, By Region
10.1 Introduction
10.2 Asia Pacific
10.2.1 China
10.2.1.1 Growing Seafood Imports to Drive the Market Growth
10.2.2 Japan
10.2.2.1 Increasing Imports of Seafood Products to Drive the Market
10.2.3 Thailand
10.2.3.1 Increasing Consumption of Exotic Seafood Products to Drive the Market Growth for Processed Seafood Products
10.2.4 Vietnam
10.2.4.1 Price Favorability of Seafood Products to Drive the Market Growth
10.2.5 Rest of Asia Pacific
10.2.5.1 Increased Adoption of Seafood Due to Nutritional Benefits Associated With them to Drive the Market Growth
10.3 Europe
10.3.1 Spain
10.3.1.1 The Rise in Demand for Convenience Processed Seafood Products to Drive Market Growth
10.3.2 France
10.3.2.1 Increase in Demand for Delicatessen Seafood Products to Drive the Market
10.3.3 Germany
10.3.3.1 Increase in Demand for Exotic Seafood Products to Drive the Market Growth
10.3.4 UK
10.3.4.1 Increasing Consumption of Seafood Products to Drive the Market Growth
10.3.5 Italy
10.3.5.1 Growing Awareness of the Nutritive Benefits in Seafood Products to Drive the Market Growth
10.3.6 Rest of Europe
10.3.6.1 Increased Seafood Trade to Drive the Market Growth
10.4 Rest of the World (RoW)
10.4.1 South America
10.4.1.1 Seafood Forming A Major Dietary Inclusion to Drive the Market Growth
10.4.2 Middle East & Africa
10.4.2.1 Rising Demand for Value-Added Processed Seafood Products to Drive the Market Growth
10.5 North America
10.5.1 US
10.5.1.1 The Rise in Demand for A Wide Variety of Processed Seafood Products to Drive the Market Growth
10.5.2 Canada
10.5.2.1 The Growth in Consumption of Exotic Processed Seafood Products to Drive Market Growth
10.5.3 Mexico
10.5.3.1 Inclusion of Seafood Products in Daily Diets is Projected to Drive the Market Growth
11 Seafood Processing Equipment Market, By Region
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 Increasing Maturity in the Seafood Processing Equipment to Influence the Market
11.2.2 Canada
11.2.2.1 Increasing Spending on Seafood and Seafood Products Along With Rising Health Concerns to Drive the Market
11.2.3 Mexico
11.2.3.1 Growing Investment By the Seafood Processors and Growing Convenience Food Demand to Drive the Market
11.3 Europe
11.3.1 Germany
11.3.1.1 Increasing Health Awareness and the Growing Demand for Processed Seafood
11.3.2 UK
11.3.2.1 Decline in Consumption of Seafood has Influenced the Steady Growth Rate of the UK Market
11.3.3 France
11.3.3.1 Increase in Demand for Hygienically and Efficiently Processed Seafood to Drive the Market
11.3.4 Spain
11.3.4.1 The Rise in the Need for Innovative Processing With Increasing Demand for Processed Seafood to Drive the Market
11.3.5 Italy
11.3.5.1 Depreciating Expenditure By the Consumers on Fish and Seafood Products to Influence the Market
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.1.1 The Adoption of Advanced Technologies in the Processed Seafood Industry and the Growing Investment in Processing Technology to Drive the Market
11.4.2 Japan
11.4.2.1 Increasing Technical Advancements in the Seafood Processing Industry are Driving the Market
11.4.3 South Korea
11.4.3.1 The Expansion of the Seafood Processing Industry Along With the Growing Seafood Trade to Drive the Market
11.4.4 Thailand
11.4.4.1 The Increase in Seafood Trade and the Growing Demand for Convenience Food to Drive the Market
11.4.5 Rest of Asia Pacific
11.5 Rest of the World (RoW)
11.5.1 South America
11.5.1.1 Increase in Production and Consumption of Processed Seafood Products for Both Food and Feed Applications to Drive the Market
11.5.2 Africa
11.5.2.1 Growing Middle-Class Income Along With Consumer Receptiveness for Processes Seafood to Drive the Market
11.5.3 Middle East
11.5.3.1 Absence of Key Market Players and Lack of Seafood Production to Influence the Market
12 Processed Seafood: Competitive Landscape
12.1 Introduction
12.2 Competitive Leadership Mapping
12.2.1 Visionary Leaders
12.2.2 Innovators
12.2.3 Dynamic Differentiators
12.2.4 Emerging Companies
12.3 Processed Seafood Market Share Analysis, By Key Player, 2018
12.4 Competitive Scenario
12.4.1 Acquisitions
12.4.2 Agreements
13 Processed Seafood: Company Profiles
13.1 The Middleby Corporation
13.2 GEA Group Aktiengesellschaft
13.3 John Bean Technologies Corporation
13.4 Marel hf.
13.5 The BAADER-Group
13.6 Uni-Food Technic A/S
13.7 Skaginn 3X
13.8 Arenco AB
13.9 Zhengda Food Machinery Co.,Ltd
13.10 KROMA A/S
14 Seafood Processing Equipment Market: Competitive Landscape
14.1 Introduction
14.2 Competitive Leadership Mapping
14.2.1 Visionary Leaders
14.2.2 Innovators
14.2.3 Dynamic Differentiators
14.2.4 Emerging Companies
14.3 Seafood Processing Equipment Market Share Analysis, By Key Player, 2018
14.4 Competitive Scenario
14.4.1 Expansions & Investments
14.4.2 Acquisitions
14.4.3 New Product Launches
14.4.4 Agreements
15 Seafood Processing Equipment: Company Profiles
15.1 Charoen Pokphand Foods Plc.
15.2 Maruha Nichiro Corporation
15.3 Nippon Suisan Kaisha, Ltd.
15.4 Thai Union Frozen Products Public Company Limited
15.5 Mowi ASA
15.6 Leroy Seafood Group ASA
15.7 Nueva Pescanova Group
15.8 High Liner Foods Inc
15.9 Royal Greenland A/S
15.10 Clearwater Seafood Incorporated
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