Processed Seafood & Seafood Processing Equipment Market Forecasts to 2028 – Global Analysis By Seafood Types (Mollusks, Fish, Crustaceans and Other Seafood Types), Equipment (Gutting, Slaughtering, Filleting, Scaling and Other Equipments), Product, End Us

Processed Seafood & Seafood Processing Equipment Market Forecasts to 2028 – Global Analysis By Seafood Types (Mollusks, Fish, Crustaceans and Other Seafood Types), Equipment (Gutting, Slaughtering, Filleting, Scaling and Other Equipments), Product, End User and By Geography

According to Stratistics MRC, the Global Processed Seafood & Seafood Processing Equipment Market is accounted for $2.65 billion in 2022 and is expected to reach $4.23 billion by 2028 growing at a CAGR of 8.10% during the forecast period. Processed seafood are the products that are converted from a raw to marketable form. The seafood processing equipment slows down and prevents enzymatic, bacterial deterioration. They also improve and maintain sea food flesh in a fresh condition. It includes tasks such as eviscerating, freezing, canning and packaging the product. It was done to keep the products fresh or frozen from storing to dispatching. It helps to deliver high quality products. These processed products have improved taste and longer shelf-life. Equipment such as graders, filleters, pin boners, glazers and gutters are used for processing. Fish is the most consumed processed seafood.

According to the U.S. Department of Food and Agriculture Organization, the competent personnels are using a variety of automated knives with necessitate technologies in order to produce high-quality and spending $1.17 trillion for expenditures which is 55% of total food expenditures.

Market Dynamics:

Driver:

Increased consumption rate

The processed sea foods is fuelling the demand due to the growing health consciousness among consumers improved the demand for seafood. Changing consumer lifestyles and their raising income levels are heightening the sales. Growing population and rapid urbanization also serves heavy consumption. The increased seafood trades as well as the high growth of the aquaculture industry are the prime factors driving the demand. Shrimp, fishes and crabs have huge demand in the market.

Restraint:

High capital investment

The sea food processing requires the high capital investment with a low replacement frequency. The need for more sea food products in lesser pace requires new adaptations, work force, new technology and many more which causes the implementation of high capital. These aspects are hindering the growth of the market.

Opportunity:

Rapid advancements in technology

The rapid advancements in seafood processing technologies as well as better packaging solutions resulting in longer shelf life of processed seafood products. New advances in fish preservation raised the consumption rate. This created preservation, waste utilization and safety assurance. It provided food safety with nutritional and sensory properties. It made availability of products at large pace in different varieties which is propelling the market growth.

Threat:

Overfishing

The heavy seafood consumer population caused the overfishing. It is closely tied to by catch the capture of unwanted sea life while fishing for a different species. It decreases the source of income and nutrition. It creates an imbalance and decreases the availability of sea products. It is presented as a classic example of market failure. It makes fishing less profitable and can lead to financial hardships and hinders the growth of the market.

Covid-19 Impact

Since the beginning of the pandemic, the worldwide market for seafood processing equipment has been significantly impacted. The global shortages of both manual labourers and the rigorous travel regulations that have been enforced everywhere in the world have limited the transport of both raw materials and finished goods. The rapid closure of enterprises and the introduction of social distancing legislation, unemployment in the manufacturing sector affected the market drastically. The post pandemic again started improving seafood consumption and market.

The fish segment is expected to be the largest during the forecast period

The fish segment is estimated to have a lucrative growth, due to its large varieties. The change in food habits and enhancing new tastes are driving the growth. This segment exhibits huge varieties of fishes such as okra, frozen fish, snack, canning, salted fish, raw fish, dried fish and smoked fish. These processes contribute in the development and changes in the flavor, texture, colour and improve its shelf life. Raise in demand and trade of processed fish products are fuelling the growth of the market.

The slaughtering segment is expected to have the highest CAGR during the forecast period

The slaughtering segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its fresh sales. In this process, the fishes are stunned and killed at the time of sales. Slaughtering equipment include electric, manual, automatic and semi automatic. This equipment helps to protect the seafood products from deterioration. It remains imperative for manufacturers to use proper slaughtering equipment to enable superior quality processed seafood products which are propelling the growth of the market.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to increasing demand and consumption of processed and convenience seafood. The growing number of working employees and changes in food habits in the region increased the demand for the sea foods. There is a huge advancement in food processing technology and the manufacturers in this region are showing interest in automation technologies which is boosting the market growth.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to advanced technology. This region uses the technologically advanced equipment. It has wide consumer base due to awareness among people and also because fish is considered as one of their staple foods. The changes in tastes and preferences and increase in foreign investments in this region are propelling the growth of the market.

Key players in the market

Some of the key players profiled in the Processed Seafood & Seafood Processing Equipment Market include John Bean Technologies Corporation, The BAADER-Group, Middleby Corporation, Grieg Seafood, GEA Group, Thai Union Frozen Products, Skaginn 3X, Zhengda Food Machinery Co. Ltd, Guolian Aquatic Products, CTB Inc, Marine Harvest, JBT Corporation, KM Fish Machinery A/S, Marel, Pisces Fish Machinery Inc, Seafood Technology Limited, Seac AB, Unifood Technic A/S, Subzero (Grimsby) Ltd

Key Developments:

In October, 2022, JBT Corporation has announced the launch of its FVPGrow and Chopper Blender SE technologies. The new technologies are specifically designed for juice and purée processing for consumers in need of smaller-sized, versatile machinery to implement across their production lines.

In May, 2022, GEA Group has launched its new CutMaster Generation 3, for preparing different kinds of sausage, a wide range of poultry, fish, plant-based, vegan and vegetarian products as well as processed cheese with advanced technology for better performance and control.

Seafood Types Covered:
• Mollusks
• Fish
• Crustaceans
• Other Seafood Types

Equipments Covered:
• Gutting
• Slaughtering
• Filleting
• Scaling
• Other Equipments

Products Covered:
• Smoked
• Canned
• Frozen
• Dried
• Other Products

End Users Covered:
• Supermarkets
• Hypermarkets
• Convenient Stores
• Food Specialty Stores
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements