Seafood Processing Equipment Market Outlook - 2026
The seafood processing equipment market size was valued at $2,261.7 million in 2018 and is projected to reach $3,478.6 million by 2026, growing at a CAGR of 5.7% from 2019 to 2026. Asia-Pacific is one of the prominent regions in the market that solely accounted for approximately 65.93% of the total seafood processing equipment market share in 2018.
Fish is one of the protein foods that require vigilant handling. It is an imperative and consistently affordable dietary element worldwide. The global seafood value chain is witnessing massive consumer demand, creating a prerequisite for processors to scale up their productivity. The objective of seafood processing equipment market and conservation is to not only slow down/avoid the enzymatic, bacterial, and chemical deterioration but also maintain the fish flesh in a condition as near as possible to that of fresh fish. The phases needed to achieve this begin before the fishing expedition starts and ends upon the seafood being eaten or processed into oil, meal, or feed. Hence, the key to delivering high-quality seafood product includes detailed attention to the entire process of preparation right from catching, landing, handling to storage and transport.
The growth in the aquaculture industry, owing to several factors such as improved logistics, technological developments, and increased demand for processed seafood products boosts the growth of the global seafood processing equipment market. Aquaculture is a process in which fish are raised, nourished, and harvested in a controlled environment. This results in more predictable harvests and reassures price solidity. Farmed fish production primarily includes finfish, mollusks, crustaceans and other aquatic animals. The monitored growth and clean surroundings allied with aquaculture enables to ease concerns regarding product safety and quality. In addition, with increase in number of health-conscious consumers, the demand for seafood and seafood products has witnessed exceptional progress in the recent past. Consumers demand high quality processed sea foods with negligible changes in nutritional properties. Novel processing technologies in the seafood processing equipment market are hence discovered and implemented to deliver safe, fresher-tasting, nutritive foods manufactured without the use of chemical preservatives. Furthermore, the expansion in consumption of processed seafood is propelled by a combination of multiple aspects, including improved distribution channels, reduced wastage, better utilization and growing demand associated with growing population, urbanization and rising incomes.
By Equipment Type
The filleting segment dominates the Global Seafood processing equipment market, however the gutting segment is expected to grow at the fastest rate during the forecast period.
Moreover, rise in per capita consumption of fish along with urbanization drives the aquaculture industry, thereby, boosting the growth of the global seafood processing equipment market. Furthermore, the use of multifunctional equipment ensures high-quality goods with efficiency, deboning machinery for instance. This equipment not only debones but also eliminates skin & scale and minces fish. Hence, rise in demand for automated equipment by food processing industry to meet the growing popularity of fish and seafood specialties demanded by consumers further drives the growth of the market. In regard to the growing popularity of fish and seafood specialties, manufacturers in the seafood processing equipment industry are using enhanced equipment’s to meet demand. Fish and seafood can be further processed into various forms, namely balls, sticks, nuggets, cakes and pastes which are by-products of traditional items, such as fillets. Additionally, manufacturers are using microwave technology to temper frozen blocks of fish, to facilitate easy cutting for fish stick and portion production.
However, rise in concerns regarding the safety and quality of seafood, owing to the differences in food standards within and between countries is expected to restrain the seafood processing equipment market. In addition, manufacturers have little control over the source of raw fish and seafood, since these inputs are influenced by an extensive array of manmade and natural aspects. It includes damage to the ocean by pollutants, which has resulted into banning of products derived from those water bodies. In certain cases, the damage has been so widespread that the complete species has been depleted. In addition, overfishing has also caused some species to become less abundant. Unfortunately, environmental regulations alone cannot assure adequate supply levels, since not all environmental risks are manmade. Shifts in weather patterns can create havoc on the capability to harvest the wild catch and natural disasters can result in fish kills. Hence, the depletion in seafood population can hamper the growth of the seafood processing equipment market.
By Seafood Type
The Finfish segment dominates the Global Seafood processing equipment market and is expected to retain its dominance throughout the forecast period.
Besides, automated factories are focusing toward growing their level of automation, whereas highly automated players will adopt robotics and hands-free processing. In addition, an upsurge in entry-level automation regarded as a seafood processing equipment market trend. This is anticipated to provide lucrative opportunity for manufacturers to further growth and expand the seafood processing equipment market.
The global seafood processing equipment market analysis is carried on the basis of seafood type, equipment types, and region. By seafood type, the market is classified into finfish, crustaceans, mollusks, and others. Based on equipment types, it is categorized into gutting, scaling, skinning, deboning, filleting, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players in the global seafood processing equipment industry analyzed in this report include Marel, JBT, BAADER, Seafood Technology Limited, Cabinplant, Pisces Fish Machinery Inc., M.T.C. Food Equipment, Inc., Uni-Food Technic A/S, Subzero, and SEAC AB.
The Asia-Pacific dominates the Global Seafood processing equipment market and is expected to retain its dominance throughout the forecast period.
Key Benefits for Seafood Processing Equipment Market:
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the seafood processing equipment market from 2019 to 2026 to identify the prevailing seafood processing equipment market forecast and opportunity.
- The key countries in all the major regions are mapped based on their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- A comprehensive analysis of factors that drive and restrict the seafood processing equipment market growth and trends is provided.
- An in-depth analysis of the global market helps determine the prevailing market opportunities.
- The report includes details of the analysis of the regional and global markets, key players, market segments, application areas, and growth strategies.
Seafood Processing Equipment Market Report Highlights
By Seafood Type
By Equipment Type
Key Market Players
Marel, CTB Inc., Uni-Food Technic A/S, Pisces Fish Machinery Inc., Baader Group, KM Fish Machinery A/S, Seafood Technology Limited, Subzero (Grimsby) Ltd, JBT Corporation, Seac AB
In accordance to several interviews conducted, the CXOs of the leading companies stated that seafood processing equipment market is expected to witness a significant growth in the future. Rapid growth in the aquaculture sector, growth in seafood trade, and increase in consumption of processed seafood provide growth avenues for seafood processing equipment. Furthermore, rise in demand for automated equipment by food processing industry has created change in the processing machinery market.
The market players such as Marel, BAADER, and JBT have adopted key development strategies such as new product development and acquisition to mark their presence in the global seafood processing equipment market.
Rapid boom in the aquaculture industry, expansion of the farmed finfish segment, global upsurge in automation of fish processing, and changes in dietary habits of consumers due to increasing health consciousness are the major factors that boost the growth of the seafood processing equipment market. In addition, growth in seafood trade worldwide due to globalization, trade liberalization, and technological advancements have increased the availability of seafood products and also broadened consumer tastes. This has subsequently fueled the demand for equipment required to process the seafoods.
Operating industry players assert that technological advancements that enable the development of multitasking equipment for processing seafood with high efficiency and minimal wastage is one of the major factors that drives the growth of the market. In addition, innovations such as the high precision cutting machine and automated bone removal and portioning machine have gained the attention of the seafood processing manufacturers and has shaped the market in the recent past. The seafood processing equipment giants offer comprehensive solutions to their customers to enhance their profitability by accelerating new product developments and providing safe food solutions.