Seafood Processing Equipment Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
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
demand for seafood products and food in general, is high in developed as well
as in developing regions. This factor is expected to boost the global seafood
processing equipment market by 2025. Government regulations to safeguard the
manufacturing processing and to provide a framework for hygiene and
standardization of products are anticipated to enhance business growth over the
forecast period.
Increasing
demand for fish and other seafood products with increasing investments to
manufacture efficient units is predicted to encourage market growth in near
future. Increasing industrial automation rate coupled with easy availability of
these units is predicted to encourage expansion of the market for seafood
processing equipment over the forecast years.
In terms of
product, frozen seafood emerged dominant in 2017. It is forecasted to expand at
a CAGR of 1.8% over the forecast period owing to advancements in processing
technologies. Frozen seafood is expected to ramp up the production of seafood
processing equipment over the next decade owing to the exponential growth in
demand, particularly from Asia Pacific and Africa. However, canned seafood is
expected to emerge as the fastest growing product segment with a CAGR of 3.6%
over the forecast period.
In terms of
equipment, scaling equipment emerged dominant with a market share of over
22.07% in terms of value in 2017. It is expected to be the fastest growing
segment with a CAGR of 3.8% over the forecast period. Recent advancements in
the machine and equipment sector are expected to revolutionize the industry and
boost the market share further in the forthcoming years. It is expected to
dominate the equipment segment of seafood processing equipment in the year
2017.
Further key
findings from the study suggest:
- The U.S.
seafood processing equipment market revenue is projected to expand at a
CAGR of 2.1% over the forecast period
- Favorable
regulations, along with the economic benefits offered by equipment
manufacturers and distributors, are projected to boost growth by 2025
- The U.K.
market, in terms of value, accounted for USD 107.08 million in 2017
- Scaling
equipment is expected to have a significant CAGR of 2.5% during the
forecast period
- India is among
some of the prominent markets in Asia Pacific and is expected to reach USD
208.22 million over the forecast period owing to significant rise in
population and industrial development
- BAADER Group.,
GEA Group Aktiengesellschaft, Arenco AB, Marel, Uni-Food Technic A/S, SEAC
AB, and Polar Systems Ltd. are some of the key players operating in the
market.
Access full
research report on global seafood processing equipment market:
www.grandviewresearch.com/industry-analysis/seafood-processing-equipment-market
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Created on Oct 11th 2019 07:08. Viewed 331 times.