Seafood Processing Equipment Market Size - By Equipment Type (Slaughtering Equipment, Smoking Equipment, Scaling Equipment, Skinning Equipment), Application (Frozen Seafood, Smoked Seafood, Canned Seafood), Automation Level, End-use & Forecast, 2023 - 203

Seafood Processing Equipment Market Size - By Equipment Type (Slaughtering Equipment, Smoking Equipment, Scaling Equipment, Skinning Equipment), Application (Frozen Seafood, Smoked Seafood, Canned Seafood), Automation Level, End-use & Forecast, 2023 - 2032

Seafood Processing Equipment Market size is estimated to expand at 4.5% CAGR from 2023-2032 driven by the robust expansion of the aquaculture domain.

The global increase in aquaculture production is surging the demand for advanced processing equipment to efficiently handle the rising volume of seafood. With aquaculture emerging as a key source for meeting the growing demand, the number of investments in state-of-the-art processing technologies has also surged. To cite an instance, in April 2023, Belgian producer of food processing equipment Cretel introduced its latest generation of stand-alone fish skinners, the F460M, to replace the older 460VH model. Moreover, the expanding international trade of seafood is also fueling the need for advanced processing equipment to meet the export standards whilst catering to diverse markets, thereby augmenting the industry outlook.

The seafood processing equipment industry is segmented into equipment type, automation level, application, end-use, distribution channel, and region.

Based on equipment type, the market share from the scaling equipment segment gained significant traction in 2022 and is anticipated to witness high demand through 2032. The rising emphasis on precision, speed, and hygiene in scaling operations is propelling the demand for cutting-edge processing technologies. Of late, there is higher need for advanced scaling equipment as it is designed to handle various seafood species for addressing the evolving industry needs. Moreover, the growing focus on minimizing labor and maximizing output is contributing to the increasing adoption of scaling equipment.

In terms of application, the seafood processing equipment industry from the canned seafood segment is estimated to depict significant growth between 2023 and 2032. This is due to the rise in consumer preference for canned seafood, attributed to its accessibility and portability. Canning offers extended shelf life and convenience, further driving the need for sophisticated processing equipment. The development of advanced processing technologies for catering to the specific requirements of canning to ensure product quality and safety will also fuel the segment expansion.

Asia Pacific seafood processing equipment market is poised to exhibit robust growth through 2032. This is driven by rapid urbanization, changing dietary preferences, and the substantial seafood consumption in the region. Furthermore, supportive government initiatives and investments to boost exports in the fisheries industry are likely to accelerate the regional market expansion. For instance, in June 2023, the Asian Development Bank and Australis Holdings inked a convertible note worth $15 million to assist the establishment of a second regional production hub in southern Vietnam and boost climate-resilient, ocean-based seaweed aquaculture in the country.