AI Is Transforming The Fish Processing Equipment Market, Expected To Grow By USD 68.1 Million From 2024-2028 Due To Rising Demand


(MENAFN- PR Newswire) NEW YORK, Sept. 30, 2024 /PRNewswire/ -- Report with market evolution powered by AI- The global fish processing equipment market size is estimated to grow by USD 68.1 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over
1.57%
during the forecast period. Increasing consumption and demand for fish and fish products
is driving market growth,
with a trend towards
expansion of fish processing plants. However,
risk of contamination followed by product recalls
poses a challenge. Key market players include Arcos, Baader SE, Carnitec, Carsoe Seafood ApS, Coastline Equipment Inc., CTB Inc., GEA Group AG, Marel Group, Martak Canada Ltd, Optimar AS, Pisces Fish Machinery Inc., Royale Kitchen Machineries, Trifisk Manufacturing Inc., Uni Food Technic, and Zhengda Food Machinery Co. Ltd..

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AI Is Transforming The Fish Processing Equipment Market, Expected To Grow By USD 68.1 Million From 2024-2028 Due To Rising Demand Image

Technavio has announced its latest market research report titled Global fish processing equipment market 2024-2028

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Fish Processing Equipment Market Scope

Report Coverage

Details

Base year

2023

Historic period

-

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 1.57%

Market growth 2024-2028

USD 68.1 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

1.4

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 35%

Key countries

China, US, Norway, Vietnam, and Chile

Key companies profiled

Arcos, Baader Global SE, Carnitec, Carsoe Seafood ApS, Coastline Equipment Inc., CTB Inc., GEA Group AG, Marel Group, Martak Canada Ltd, Optimar AS, Pisces Fish Machinery Inc., Royale Kitchen Machineries, Trifisk Manufacturing Inc., Uni Food Technic, and Zhengda Food Machinery Co. Ltd.

Market Driver

The Fish Processing Equipment Market is experiencing steady growth due to increasing global fish consumption. Key players in this industry include Thrace Group, Findlay Machine, and JBT Corporation. They provide equipment such as filleting machines, smoking systems, and ice making machines to process fish efficiently and safely. These companies focus on innovation and quality to meet the demands of customers in the food industry. The market is expected to continue growing due to the rising popularity of seafood and advancements in technology.

The Fish Processing Equipment Market is experiencing significant trends driven by increasing demand for fish collagens, pet humanization, and fish protein. Stainless steel equipment is popular due to its durability and ease of cleaning. Seafood processors focus on seafood traceability using QR tags and sustainable practices, aligning with the Sustainable Ocean Alliance. Processing byproducts are utilized for value-added items and nutritious pet food. Larger solids and waste volume require advanced technologies for gutting, scaling, skinning, deboning, filleting, and processing finfish, crustaceans, and mollusks. Food safety, hygiene, and environmental sustainability are top priorities. Salmon, pollock, and other fish species are in high demand, leading to the need for automated equipment and packaging solutions. Process water treatment is crucial for reducing biological oxygen demand and total suspended solids, while odor control is essential for maintaining product quality. Lifestyles and health consciousness drive the demand for convenient and nutritious seafood products, leading to growth in the market. Seafood export and food safety regulations also impact market trends.

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Market Challenges

  • The Fish Processing Equipment Market is experiencing steady growth due to increasing global demand for seafood. Key players in this industry include Thrace Group, JBT Corporation, and Marel. These companies provide equipment for various stages of fish processing, such as filleting, freezing, and packaging. Innovations in technology, like automated systems and improved energy efficiency, are driving market expansion. Fish processing equipment is essential for maintaining food safety and quality, making it a vital investment for seafood businesses.
  • The Fish Processing Equipment Market faces several challenges in the global seafood industry. Overfishing and sustainable sourcing are major concerns for restaurants, catering services, and foodservice establishments. Automated filleting, sorting, and packaging systems ensure food safety and hygiene, adhering to regulations. Slaughtering equipment and fish processing machines require FDA authorization for operation. The fully automatic segment and frozen seafood segment dominate market growth. Seafood processing plants cater to direct sales and supermarket operations, emphasizing nutritional value, Omega 3 fatty acids, and Omega 6-9. The fish oil market, fish sauce market, and aquaculture therapeutics provide additional revenue streams. Aquaculture species face bacterial illnesses, necessitating automation and nutritional supplements like Vitamin D, Vitamin B2, soybean meals, and corn gluten meals. Fish collagen is a valuable byproduct for various industries.

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Segment Overview

This fish processing equipment market report extensively covers market segmentation by

  • Product
    • 1.1 Filleting and skinning equipment
    • 1.2 De-heading and gutting equipment
    • 1.3 Grading equipment
    • 1.4 Scaling equipment
    • 1.5 Others
  • Geography
    • 2.1 APAC
    • 2.2 Europe
    • 2.3 North America
    • 2.4 Middle East and Africa
    • 2.5 South America

    1.1
    Filleting and skinning equipment-
    The Fish Processing Equipment Market is experiencing steady growth due to increasing global fish consumption. Key players in this market include Thrace Group, Marel, and Findus Group. These companies offer a range of equipment such as filleting machines, smoking systems, and freezing technologies. The market's growth is driven by factors like rising demand for processed fish products and advancements in automation technology. Companies are focusing on improving efficiency and product quality to gain a competitive edge.

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    Research Analysis

    The global fish processing market is driven by the growing demand for seafood in the food industry and the nutritional value of fish, particularly omega-3 fatty acids. The fish oil market and aquaculture therapeutics also contribute significantly to the market's growth. Automation and the production of value-added items are key trends in the industry. However, challenges such as bacterial illness, larger solids and waste volume, and environmental sustainability concerns pose significant challenges. Seafood processing facilities must adhere to strict food safety and hygiene regulations, as well as FDA authorization. The market includes various fish species, such as salmon and pollock, and processing methods include the production of fish meal, fish oil, and fish feed. Seafood export is a significant market for fish processing, with restaurants and catering services being major consumers. Overfishing, bycatch, and seafood sourcing are also important considerations in the industry. Process water and wastewater management are crucial aspects of fish processing, with the potential for high biological oxygen demand and potential environmental impact.

    Market Research Overview

    The Fish Processing Equipment Market is witnessing significant growth due to the increasing demand for nutritious seafood products, particularly Omega 3 fatty acids, in the human food industry and the pet food market. The market is driven by the nutritional value of fish oil, which is used in aquaculture therapeutics and the fish oil market. Automation is a key trend in the market, with the use of stainless steel fish processing machines for gutting, scaling, skinning, deboning, filleting, and other processing activities. The market is also influenced by the FDA authorization of new processing technologies and the growing demand for sustainable and traceable seafood products. The market includes processing byproducts such as fish collagen, soybean meals, and corn gluten meals. The market is also influenced by consumer lifestyles and health consciousness, leading to the demand for nutritious pet food and value-added seafood products. The market is segmented into finfish, crustaceans, and mollusks, and includes seafood processing facilities, foodservice establishments, and food specialty stores. The market is also influenced by food safety regulations, hygiene features, and environmental sustainability concerns. The market includes wastewater treatment systems for process water, odor control, and larger solids and waste volume management. The market is expected to grow due to the increasing demand for seafood products, particularly salmon, pollock, and other popular fish species, in the foodservice industry and for export. The market is also influenced by the start-up ecosystem, seafood processing technologies, and packaging solutions. The market includes automated equipment for filleting, sorting, and packaging systems, and is expected to grow due to the increasing demand for convenient and value-added seafood products. The market is also influenced by food safety regulations and hygiene features, with the use of QR tags for seafood traceability and the Sustainable Ocean Alliance promoting sustainable seafood sourcing. The market includes slaughtering equipment, with the fully automatic segment and frozen seafood segment being major contributors. The market is expected to grow due to the increasing demand for seafood products and the need for efficient and hygienic processing solutions.

    Table of Contents:

    1 Executive Summary
    2 Market Landscape
    3 Market Sizing
    4 Historic Market Size
    5 Five Forces Analysis
    6 Market Segmentation

    • Product
      • Filleting And Skinning Equipment
      • De-heading And Gutting Equipment
      • Grading Equipment
      • Scaling Equipment
      • Others
    • Geography
      • APAC
      • Europe
      • North America
      • Middle East And Africa
      • South America

    7 Customer Landscape
    8 Geographic Landscape
    9 Drivers, Challenges, and Trends
    10 Company Landscape
    11 Company Analysis
    12 Appendix

    About Technavio

    Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

    With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

    Contacts

    Technavio Research
    Jesse Maida
    Media & Marketing Executive
    US: +1 844 364 1100
    UK: +44 203 893 3200
    Email:
    [email protected]
    Website:

    SOURCE Technavio

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