Seafood Processing Equipment Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Seafood Processing Equipment Market
The global seafood processing equipment market was valued at USD 2.42 billion in 2023. The market is projected to grow from USD 2.49 billion in 2024 to USD 3.81 billion by 2032, exhibiting a CAGR of 5.4% during the forecast period.
Seafood processing equipment is essential for handling and processing products such as fish, crustaceans, and mollusks. These machines perform key tasks such as cleaning, gutting, scaling, filleting, and packaging. They enhance food safety standards while improving operational speed and accuracy. The trend of adopting AI, IoT, and machine learning in seafood processing enhances operational efficiency, reduces labor costs, and maintains consistent product quality, driving product demand.
The rising demand for seafood in the Asia Pacific, Latin America, and Africa creates a significant opportunity for seafood processing equipment manufacturers to expand their market presence. Investments by governments in developing regions, such as India's planned USD 2,394.7 million investment in the fisheries sector, enhance local seafood processing capabilities and stimulate demand for processing equipment.
However, insufficient financing alternatives and uncertainties regarding quick returns on investment lead many businesses to delay adopting new technologies, hindering overall seafood processing equipment market growth.
The COVID-19 pandemic severely affected the market due to manufacturing halts, labor shortages, and supply chain disruptions. Post-pandemic, demand for fish and seafood surged as health and safety standards became mandatory, creating lucrative growth opportunities for the market.
Comprehensive Analysis of Seafood Processing Equipment Market
As per equipment, the market is divided into filleting equipment, cutting equipment, skinning equipment, smoker and drying equipment, packaging equipment, gut and scale equipment, and others. Others included grinders and specialized cleaning equipment. The dominance of filleting equipment in the market is driven by the heightened demand for premium fish fillets and the trend towards ready-to-eat seafood products. As per mode of operation, the market is classified into automatic, and semi-automatic & manual. The automatic machine segment held the key seafood processing equipment market share in 2023, driven by ongoing technological advancements in AI, robotics, and ML. These innovations improve processing efficiency, elevate product quality, and minimize waste. On the basis of seafood type, the market is segregated into crustaceans, mollusks, cephalopods, fish, and others. In 2023, fish segment led the market, experiencing significant growth fueled by rising consumption in India, China, and the U.K. This trend boosts the demand for filleting, skinning, and packaging equipment.
Based on the geography, Europe, South America, the Asia Pacific, Latin America, and the Middle East & Africa. Rapid urbanization in countries such as South Korea, India, and Japan leads to higher fish and seafood consumption, fuels the growth of the seafood processing equipment market in the Asia Pacific. The North American market is expected to grow moderately, fueled by increased aquaculture production and the rising demand for ready-to-eat seafood products. This demand drives investments in processing equipment capable of efficiently producing these items.
The industry players in the market JBT Corporation (U.S.), Carsoe Group A/S (Denmark), BAADER Group (Germany), CTB Inc (U.S.), Coastline Equipment Inc (U.S.), Marel (Iceland), Subzero (Grimsby) Ltd (U.K.), GEA Group Aktiengesellschaft (Germany), Optimar A/S (Norway), Bettcher Industries Inc (U.S.), Buhler Group (Switzerland), Durr AG (Germany), Schaefer Technologies Inc (U.S.), Nordic Seafood (Denmark), Euro Baltic (Denmark), and Aquabounty Technologies (U.S.). Key market players, including Carsoe Group and GEA Group, are focusing on product launches and strategic acquisitions to boost competition. A notable development is BAADER Group's launch of the 180/Pro fillet machine in June 2024, which offers smart controls for processing different fish species and sizes.
In June 2024, Carsoe Group A/S launched the KM Mark7 gutting machine, capable of processing 60 fish per minute. This automatic machine offers high speed, enhanced efficiency, and requires less maintenance compared to traditional models.
Segmentation Table
Global Seafood Processing Equipment Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.4% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Equipment, By Mode of Operation, By Seafood Type, and By Region
By Equipment
Gut and Scale Equipment
Filleting Equipment
Cutting Equipment
Skinning Equipment
Smoke and Drying Equipment
Packaging Equipment
Others (Grinders, Specialized Cleaning)
By Mode of Operation
Automatic
Manual and Semi-Automatic
By Seafood Type
Fish
Crustceans
Mollusks
Cephalopods
Others (Seaweed, Kelp)
By Region
North America (By Equipment, By Mode of Operation, By Seafood Type, and By Country)
U.S. (Equipment)
Canada (Equipment)
Mexico (Equipment)
Europe (By Equipment, By Mode of Operation, By Seafood Type, and By Country)
Germany (Equipment)
U.K. (Equipment)
France (Equipment)
Italy (Equipment)
Spain (Equipment)
Russia (Equipment)
Nordics (Equipment)
Benelux (Equipment)
Rest of Europe
Asia Pacific (By Equipment, By Mode of Operation, By Seafood Type, and By Country)
China (Equipment)
Japan (Equipment)
India (Equipment)
South Korea (Equipment)
Southeast Asia (Equipment)
Oceania
Rest of Asia Pacific
Middle East & Africa (By Equipment, By Mode of Operation, By Seafood Type, and By Country)
Turkey (Equipment)
Israel (Equipment)
GCC (Equipment)
North Africa (Equipment)
South Africa (Equipment)
Rest of the Middle East & Africa
South America (By Equipment, By Mode of Operation, By Seafood Type, and By Country)
Brazil (Equipment)
Argentina (Equipment)
Rest of South America
Key Market Players Profiles in the Report JBT Corporation (U.S.), Carsoe Group A/S (Denmark), BAADER Group, CTB Inc. (Germany), Coastline Equipment Inc (U.S.), Marel (Iceland), Subzero (Grismby) Ltd (U.K.), GEA Group Aktiengesellschaft (Germany), Optimar A/S (Norway), and Bettcher Industries Inc. (U.S.)