According to the current analysis of Reports and Data, the global Processed Seafood & Seafood Processing Equipment Market was valued at USD 1.4 Billion in 2018 and is expected to reach USD 2.18 Billion by the year 2026, at a CAGR of 5.7%. Seafood comprises of all bony fishes, mollusks and shellfishes. Millions of people across the globe depend on these as their primary nutrient source. Health benefits provided by these foods are the major reason for their increasing demand. It is a good source of protein and contains less fat as compared to other animal protein sources. It is highly beneficial for heart patients on account of its low cholesterol. Additionally, it contains essential vitamins necessary for human bodies such as vitamin B, iodine, zinc, and potassium. A rise in disposable income has led to high demand for these products in developing economies. Growing heart diseases and cholesterol has urged people to shift to more nutritious and healthy products for consumption. Moreover, increasing awareness regarding the benefits of aquatic food items coupled with the introduction of new processing techniques is expected to drive the industry for processed seafood equipment. Increasing investments and expansion of the seafood processing industry is expected to drive the growth for processed seafood market. For example, on April 23, 2018, Hofseth Aalesund AS announced about its investment plans in BAADER, one of the leading food processing companies; this investment is expected to expand the production capacity of the fillet.
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The major industrial players are adopting various strategies like expansion, partnerships, mergers & acquisitions, the launch of new product and adoption of advanced technologies to sustain in the competitive environment. For instance, on December 27, 2017, Thai Union launched its Fishing Vessel Improvement Program and Vessel Code of Conduct (VCoC) to offer clear guidance to the fishing vessel. The market for aquaculture food items equipment is propelled by a growing population, increasing demand for aquaculture food items, the emergence of new entrants and changing lifestyle and taste preferences of the population. However, strict government regulations regarding fishing activities, environmental concerns, and high setup cost are expected to hinder the market growth of this processed aquaculture food items market.
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Further key findings from the report suggest
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For the purpose of this report, Reports and Data has segmented the Processed Seafood & Seafood Processing Equipment market on the basis of type, equipment type, product type, end use, and region:
Type (Revenue, USD Million; 2016–2026)
Equipment Type (Revenue, USD Million; 2016–2026)
Product Type (Revenue, USD Million; 2016–2026)
End Use (Revenue, USD Million; 2016–2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
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Customization on the report is available according to the requirements of the user to ensure maximum utility to the reader and an increased level of comprehensibility.