Northrook, IL -- (SBWire) -- 11/14/2019 --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 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 these equipment is projected to hinder the growth of the market.
Request for Free Sample Report Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=10805180
The fish segment is estimated to dominate the processed seafood market
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.
Inquiry before buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=10805180
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.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Growth in the Aquaculture Industry and an Increased Seafood Trade Are Projected to Drive Processed Seafood & Seafood Processing Equipment Market
The processed seafood market in the Asia Pacific region is witnessing significant growth due to the busy lifestyles of customers. Currently, the processed seafood market in the region is also undergoing a significant transformation in response to rapid urbanization and diet diversification.