Fish Processing Equipment Market is Projected to Cross a Worth of US$ 308.1 Mn as on 2023, and by Year 2033-end is Estimated to Breach a Revenue of US$ 451.6 Mn | Expert Data by Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
6 min read
Future Market Insights Global and Consulting Pvt. Ltd.
Rising demand for seafood along with enhanced global supply line has flourished the demand for Fish Processing Equipment, FMI anticipates a CAGR of 3.9% (2023-2033). The UK Fish Processing Equipment Market is expected to grow at a CAGR of 2.9% during the forecast period. Japan: The Surging Fish Based Pet Food Market is expected to increase the Sales of Fish Processing Equipment.
DUBAI, United Arab Emirates, Dec. 27, 2022 (GLOBE NEWSWIRE) -- The fish processing equipment market is anticipated to thrive at a healthy CAGR of 3.9% between 2023 and 2033. The market holds a share of US$ 308.1 Million in 2023 while it is forecasted to cross a valuation of US4 451.6 million by 2033.
The rise in per capita consumption of fish has raised the demand for fish-based products and processed fish. Therefore, rising urbanization has also penetrated people’s food habits. This eventually fuels the demand for fish processing equipment.
The government provides support to small businesses with subsidies to help food business enthusiasts in setting up the fish processing units.
Processed into various forms, namely balls, sticks, nuggets, cakes and pastes which are by-products of traditional items. For example, fillets.
The vendors have started producing equipment for specific seafood items to segregate the fish and prevent the mixture of different fishes.
Canned tuna, shrimps, and other canned products go through the processing units. The demand for these canned products is rising as they penetrate in the remotest areas possible.
Environmental risks and vegan movement have hindered the demand for processed fish.
Top Points:
The leading segment based on the production type is slaughtering and gutting equipment which is likely to thrive at a CAGR of 3.5% (2023 – 2033) as it is used the most in the processing units along with it being the unattached part of the processing euipment.
The biggest segment based on the end user category is the sea food processors which is forecasted to thrive at a CAGR of 3.7% between 2023 and 2033. The high CAGR is attributed to its diversified client base along with the strong supply chain.
China, Japan, and the South Korean market for fish processing equipment has strengthened over the years and are likely to thrive at the same highest CAGR of 3.8% during the forecast period. The growth is attributed to the expanding seafood industry along with the new cuisines adding up as an effect of globalization.
US holds the biggest anticipated market share of US$ 89 Mn by 2033, thriving on a CAGR of 2.9% while United Kingdom thrives on the same CAGR of 2.9% in the forecast period, owing to higher processed food consumption.
Key companies focus on making their processing unit efficient and fast while also focusing on making the processing units more organic. Competitors adopt techniques such as mergers and acquisitions to expand their supply chain while also diversifying their distribution channels. Major companies in the fish processing equipment market are Marel, World Fishing & Aquaculture, Trifisk Manufacturing Inc., MTC Food Processing Equipment, Blois Fish Processing Automation Ltd.
Recent Market Developments:
Trifisk Manufacturing Inc has launched its series of fish processing equipment that ensures minimal water consumption, very low maintenance, increased profits, and better productivity
MTC food equipment has introduced its BAADER 212-CK heading machine which is stand-alone machine and comes with easy to ship qualities.
Explore FMI’s Extensive Coverage on Food & Beverage Domain:
Commercial Wine Dispenser Market Share : The global commercial wine dispenser market is projected to have an average-paced CAGR of 5.1% during the forecast period. The current valuation of the market is US$ 1,689.3 million in 2023
Air Classifying Mill Market Size : The market value is expected to increase from USD 989.2 Mn in 2023 to USD 1,657.9 Mn by 2033. At the end of 2022, the Air Classifying Mill market had a value of USD 939.4 Mn, and in 2023
Portable Keg System Market Analysis : According to research by Future Market Insights, the portable keg system market is anticipated to expand at a CAGR of 4.1% during the forecasted period. According to projections, the market would be worth US$ 1,741.4 Mn by 2033, up from US$ 1,165.2 Mn in 2023
Cider Brewing Equipment Market Forecast : The global cider brewing equipment market is projected to have an average-paced CAGR of 3.8% during the forecast period. The current valuation of the market is US$ 1,648.4 million in 2023
Spray Painting Machine Market Growth : According to Future Market Insights research, during the projected period, the global spray painting machine market is expected to grow at a CAGR of 4.9%. The market value is projected to increase from US$ 4,325.4 Mn in 2023 to US$ 6,978.9 Mn by 2033
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
