Market Estimation & Definition

The Seafood Processing Equipment Industry was valued at US$ 2.35 Bn. in 2023 and the total Seafood Processing Equipment revenue is expected to grow at 3.5% from 2024 to 2030, reaching nearly US$ 2.99 Bn.

Market Overview:

The market for seafood processing equipment is booming due to the increasing demand for more automated food processing equipment, rising seafood consumption, increased seafood trade, quick growth of the aquaculture industry, and changing consumer lifestyles. Demand for seafood equipment is driven by increasing disposable income, population increase, and urbanization. The market for seafood processing equipment is being driven by demand for automated food processing equipment.

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Dynamics:

The high volume of wastewater with high BOD & and TSS values produced by processing seafood necessitates the use of seafood processing equipment

A large amount of wastewater with relatively high levels of biological oxygen demand (BOD) and total suspended particles is produced during the processing of seafood (TSS). This is one of the most significant factors driving the demand for seafood processing equipment because it enables companies to control odors caused by the cooking and storage of products as well as to adhere to stringent regulations for the disposal of food waste, both of which support the growth of the global seafood processing equipment market.

Global demand for fish products is rising as a result of changing lifestyles & rising consumer health consciousness, which is growing the industry

The demand for seafood products is increasing globally due to changing lifestyles and a rise in consumer health consciousness, which is also contributing to the market's expansion. The market is expanding as a result of this need. Aside from this, the acceptance of nutritious pet foods containing seafood is being favorably impacted by the expanding trend of pet humanization, the general public's ability to spend money, and pet parents' concerns about their animals' well-being.

The contamination of aquatic items is another factor limiting Seafood Processing Equipment market growth

Since there are so many natural and manmade elements that might alter the quality of these inputs, manufacturers have very little control over where the raw fish and seafood they employ in their products come from. It discusses the harm that pollution has done to the ocean, which has resulted in a ban on goods made from similarly polluted water sources. In some cases, the damage was so extensive that the entire species was driven to extinction.

Segmentation Analysis

The seafood processing equipment market is segmented as follows:

Manufacturers may now offer a variety of functionalities in a single device thanks to technological developments in operations and software. In the year 2023, scaling equipment took the lead with a market share of more than 22.07 percent in terms of value.

The demand for effective and efficient solutions for many complicated production processes is constant in the market for seafood processing equipment. One of the most fundamental and significant processing tools used in the processing of seafood, gutting equipment, is expected to increase significantly in the near future. The necessary food quality and standard of processed foods are made possible by a variety of equipment. With a market share of almost 20.23% in terms of value in the year 2023, frozen seafood became the industry leader.

Consumers in Europe love fish: Europeans eat a lot of fish, even without the lockdown or a pandemic. The Food and Agriculture Organization of the United Nations (FAO) recently released data showing that, from 2010 to 2019, the average annual global intake of fish increased by 8%, from 18.8 kg to 20.2 kg per person. Asia's consumption increased by 12% over this time, more than any other region except for Europe (9%), Africa (9%) and Latin America and the Caribbean (5%).

Due to the shifting dietary tastes of consumers, smoked seafood had a market share of 18.44% in 2017 and was the second-largest contributor in terms of value. This is one of the more well-known product categories since consumer taste preferences are dynamic and constantly changing.

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Regional Insights:

Asia Pacific is expected to lead the global market during the forecast period. In terms of revenue, APAC contributed to xx% share in the year 2023 & is expected to grow at a CAGR of xx% during the forecast period. The growth of the region is facilitated by China's economic performance & significant investments in technology and research. China is expected to make significant changes to its food and beverage business in order to address issues including economic inequality and rising urbanization, among others.

Many manufacturers are shifting their focus toward emerging countries & units that can function with progressive technology. The industry is dominated by large multinational corporations, who are mainly centered in North America and Europe. Most of the market is taken up by the top manufacturers, with North America and Asia Pacific accounting for substantial market shares. Top players determine pricing and other strategic initiatives. To strengthen their position in the market, manufacturers place a strong emphasis on the improvement of industrial operations and procedures that are supported by technological advancements.

Competitive Analysis

Leading players include

1. Ross Industries, Inc (US)
2. Pisces Fish Machinery Inc. (US)
3. Bettcher Industries, Inc. (US)
4. Key Technology, Inc. (US)
5. CTB, INC. (US)
6. The Middleby Corporation (US)
7. MTC Fod Equipment Inc. (US)
8. JBT Corporation (US)
9. Morris & Associates, Inc. (US)
10. Polar Systems Ltd. (UK)

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Conclusion

The global seafood processing equipment market is poised for robust growth, fueled by rising seafood demand, automation, and sustainability trends. With technological advancements and expanding applications, manufacturers must innovate to stay competitive. North America and Asia-Pacific remain key growth regions, while Europe’s stringent regulations drive quality improvements. As the industry evolves, smart processing solutions and traceability will define the future of seafood processing.

FAQs:

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