Fish Processing Market Projected to Augment at a Notable CAGR during the Forecast Period until 2027

Operations of the fish/seafood processing industry include gathering, segregating, cutting, and packaging of seafood into ready-to-eat containers for retail purposes. Few companies operating in this industry are also engaged in providing fresh seafood to restaurants. The seafood processing industry acts as a link between retail customers and the fishermen, providing the later with a source of living. Whole port town economies are dependent on the seafood processing industry for their income.

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They key market drivers for this industry are high nutritional value of fish, growth in aquaculture industry, and increase in health consciousness among the general public. However, rise in raw material prices and strict environmental regulations protecting fish species is expected to impede the market growth. The emerging markets of India, China, and Brazil provide numerous growth opportunities for fish processing market expansion.

The fish processing market is segmented on the basis of species, category, application, source, equipment, and geography. Based on species, it is divided into fish, crustaceans, mollusks, and others. On the basis of category, it is classified into frozen, preserved, and others. Based on application, it is bifurcated into food and non-food. The source segment includes marine and inland. Based on equipment, the market is segmented into slaughtering, gutting, scaling, filleting, deboning, skinning, curing & smoking and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

In June 2017, CEER Processing Ltd., initially operations limited within Europe, expanded its presence in the UAE and Hong Kong. The company deals with a fish variety called the Nile Perch, locally known as Mbuta. As per the company executives, the reason of expanding into these two new markets was their growing population.

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Major players operating in the fish processing market are Marine Harvest ASA, Leroy Seafood Group ASA, Charoen Pokphand Foods PCL, High Liner Foods Inc., Norway Pelagic ASA, Pesconova S.A., Nippon Suisan Kaisha Ltd., Maruha Nichiro Corporation, Royal Greenland A/S, and Thai Union Frozen Products Public Company Ltd.

Key Benefits

This report provides an extensive analysis of the current trends and emerging estimations & dynamics between 2016 and 2023 of the fish processing market.
Competitive intelligence (of leading manufacturers and distributors of fish processing) assists in understanding the competitive scenario across the geographies.
The report provides key information related to drives and restrains impacting the market.
Industry analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
Key market players are profiled and their strategies are analyzed thoroughly to provide a competitive outlook of the industry trends.

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