The global seafood processing equipment market size is expected to value USD 2.51 million by 2025 at a 3.2% CAGR over the forecast period. The market for seafood and food items, in general, is strong in both developed and emerging regions. This factor is expected to fuel the global demand for seafood processing equipment by 2025. Government legislation to safeguard industrial processing and to provide a structure for the sanitation and standardization of products is expected to increase market development over the projected period.
The rising demand for fish and other seafood products, with the rising investment for the development of efficient units, is expected to stimulate market growth in the coming years. The increase in the industrial automation rate coupled with the easy availability of these units is expected to promote the expansion of the market for seafood processing equipment over the forecast period.
Seafood Processing Equipment Market Highlights
• On the basis of equipment, the scaling equipment segment emerged dominant with a market share of more than 22.07% in terms of volume in 2017. The segment is also anticipated to register the fastest CAGR of 3.8% over the forecast period.
• On the basis of product, the frozen seafood segment emerged dominant with a market share of more than 20.23% in terms of volume in 2017. On the other hand, the canned seafood segment is expected to record the fastest CAGR of 3.6% over the forecast period.
• In July 2020, Einhamar Seafood announced the installation of the FleXicut system at its Grindavík processing plant. With FleXicut, the company plans to increase the level of automation in its manufacturing, improving both its processes and the final product.
• The Asia Pacific region is expected to lead the global market over the forecast period. In terms of revenue, Asia Pacific contributed a 42.13% share in 2017 and is expected to expand at a CAGR of 4.7% during the forecast period.
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Seafood Processing Equipment Market Segmentation
Grand View Research has segmented the global seafood processing equipment market on the basis of product, equipment type, and region:
Seafood Processing Equipment Type Outlook (Revenue, USD Million, 2014 – 2025)
Seafood Processing Equipment Product Outlook (Revenue, USD Million, 2014 – 2025)
Seafood Processing Equipment Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• The U.K.
• Asia Pacific
• South Korea
• Central & South America
• South Africa
List of Key Players of Seafood Processing Equipment Market
• BAADER Group.
• GEA Group Aktiengesellschaft
• Biro Manufacturing Company
• Arenco AB
• Polar Systems Ltd.
• Uni-Food Technic A/S
• The Great Eastern Shipping Co. Ltd.
• Kuwait Oil Tanker Company
• DAE Sun Shipbuilding and Engineering Co. Ltd.
• Namura Shipbuilding Co., Ltd.
• STX Corporation
• PT Pertamina (Persero)
• Epic Gas Ltd.
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