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Surge in Global Fish Processing Market: Assessment of Market Size, Growth Rate, Drivers and Trends
Fish Processing Market Size
What Is The Projected Market Size Of The Global Fish Processing Market And Its Growth Rate?
The fish processing market has demonstrated steady growth and is set for further expansion:
- The market is projected to grow from $215.6 billion in 2024 to $225.42 billion in 2025, with a compound annual growth rate (CAGR) of 4.6%.
- By 2029, it is estimated to reach $279.67 billion, indicating a CAGR of 5.5%.
- The growth can be accounted for by global supply and demand, new species entering the market, impact of trade and export policies, environmental factors and advancements in labor and automation.
What Is Driving The Growth In The Fish Processing Market?
The progression in the aquaculture industry is steering the growth of the fish processing market. Aquaculture, which involves the farming of fish, shellfish and aquatic plants in a variety of water bodies, has multiplied due to the high demand for seafood and a decline in the catch of wild fish. According to the UK's Sea Fish Industry Authority, aquaculture output will go up to 106 million tons by 2030, a total growth of 22 percent roughly amounting to 19 million tons. Hence, the expansion of the aquaculture industry is fueling the demand for fish processing.
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Who Are the Key Players Driving Fish Processing Market Growth?
Key companies operating in the fish processing market include:
- Maruha Nichiro Corporation
- Charoen Pokphand Foods Public Company Limited
- GEA Group
- Mowi Feed AS
- Marine Harvest ASA
- The Union Frozen Company
- Thai Union Frozen Products Public Co. Ltd.
- The Middleby Corp.
- Leroy Seafood Group
- JBT Corporation
- Marel Ltd.
- Nippon Suisan Kaisha Ltd.
What Are The Key Trends In The Fish Processing Market?
There are several emerging trends in the fish processing market including:
- Greater transparency in the market and increased consumer education
- Customization and personalization of fish products
- An emphasis on health and nutrition
- Focus on value-added processing
What Are The Segments Of The Global Fish Processing Market?
The global fish processing market sectors are:
- Source: Marine, Inland
- Species: Fish, Crustaceans, Mollusks, Other Species
- Processing: Frozen, Preserved, Other Processes
- Application: Food, Non-food
Which Region Leads The Fish Processing Market?
Asia-Pacific had the largest share in the fish processing market in 2024. The market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Fish Processing Market Global Market Report?
- Market Size Analysis: Analyze the Fish Processing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Fish Processing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Fish Processing Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Fish Processing Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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