Report Overview

Global Seafood Processing Equipment Market – Industry Trends & Forecast Report 2028

Global seafood processing equipment market was worth USD 2.06 billion in 2021 and is further projected to reach USD 3.22 billion by the year 2028, exhibiting a CAGR of 6.7% during 2022-2028 (forecast period). The rising demand for increased automated equipment in the food processing industry, increased consumption of processed seafood, health consciousness, increased seafood trades, rapid aquaculture industry expansion and changing consumer lifestyles. Rising disposable income, population growth, and urbanization also boost global demand for seafood processing equipment. In addition, rigorous government regulations governing food and associated industries are expected to promote consumer propensity towards seafood. The food processing industry's rapid increase in demand for automated equipment is also boosting the seafood processing equipment market.

Global Seafood Processing Equipment Market – Overview

The efficiency of seafood processing plants can be increased and valuable byproducts recovered with the use of specialized machinery. Among its many benefits are its ability to efficiently remove process water from bigger particulates, its low maintenance and shipping costs, and the small amount of trash it generates during treatment. These days, you may choose from a wide variety of cutting-edge tools that are put to use in preparation for various types of seafood. Processing salmon and pollock, for example, might benefit from stainless steel equipment thanks to its durability, ease of use, and dependability.

Global Seafood Processing Equipment Market Forecast and Trends

Growth Drivers

Increased seafood processing is increasing the market for seafood processing equipment

The increased rate of consumption of processed seafood products is the primary driving force behind the expansion of the market for seafood processing equipment. The rising level of health consciousness among customers is the primary reason that is driving the need for equipment used in the processing of seafood. Furthermore, the growing seafood trades in addition to the rapid expansion of the aquaculture sector and the changing consumer lifestyles are also boosting the overall demand in the seafood processing equipment market over the forecast period of 2021 to 2028. This is expected to take place.

Rising disposable income, growing population, and rapid urbanization boost global demand for seafood processing equipment

The rising personal disposable income, expanding population, and fast urbanization all serve as primary drivers for increasing the demand in the seafood processing equipment market on a global basis. Rapid increases in demand for automated equipment by food processing industry are also lifting the growth of the seafood processing equipment market. All of these factors are lifting the growth of the seafood processing equipment market. Additionally, the swift developments in seafood processing technologies, as well as improvements in packaging solutions that result in longer shelf lives for processed seafood products, will further generate new opportunities for the market for seafood processing equipment, according to the projections made by the analysts.

Restraints

High capital expenditure with low replacement frequency and overfishing are expected to hinder the seafood processing equipment market

The high capital investment with a low replacement frequency and the declining seafood population as a result of overfishing are projected to act as a restraint towards the growth of the seafood processing equipment market. On the other hand, the increasing food safety and regulatory compliance requirements have the potential to present a challenge to the growth of the seafood processing equipment market. It is anticipated that a rise in concerns regarding the safety and quality of seafood, as a result of disparities in food regulations both within countries and between countries, will act as a restraint on the market for seafood processing equipment.

In addition, growing gap in supply and demand, together with the lack of awareness of the population in underdeveloped regions, is likely to limit the overall growth of the global market. Pollution/contamination of aquatic products is stunting the growth of the market by mixing substandard and sometimes harmful substances to keep seafood fresh. It is very harmful for people with diabetes or high blood pressure, or when food becomes dirty and is not suitable for human consumption. The growing concern about additives used in these foods is a major factor that is likely to slow the growth of the global market for seafood processing equipment.

Impact of COVID-19 on Global Seafood Processing Equipment Market

Since December 2019, the outbreak of the COVID-19 pandemic has had a significant impact on the growth of the global seafood processing equipment market. This is due to the lack of availability of required manual labor and the strict travel rules that have been implemented all over the world, which have restricted the movement of raw materials and finished products. In addition, the sudden closing down of firms and the enactment of social distancing legislation both had an impact on the work in the manufacturing sector, which in turn had an impact on the global seafood processing equipment market.

Global Seafood Processing Equipment Market – By Seafood Type

On the basis of seafood type, the market is divided into fish which is further divided into salmon, tuna, pollock, others then into crustaceans which is further divided into crabs, shrimps, prawns, others then into mollusks which is subdivided into scallops, oysters, others and others. During the forecast period, the fish industry is anticipated to provide the most sales to the processed seafood market. Keeping fish fresh is a full-time job, thus fishermen are required. Degassing, cleaning, fermenting, drying, salting, and smoking are the first steps in preparing fish for consumption. Texture, flavor, and color can all alter and improve over time because to these transformations. The growth of this industry will be spurred by the rising consumption and exchange of processed aquatic goods.

Global Seafood Processing Equipment Market – By Equipment Type

On the basis of equipment type, the market is divided into gutting, slaughtering, scaling, skinning, deboning, filleting and others. The slaughter industry is expected to grow at a far faster rate than the other sectors. Electric, automatic, manual, and semi-automatic slaughter devices are only a few of the options accessible in the seafood processing sector. However, depending on the type of fish cutting required, most slaughter equipment is adopted by manufacturers of seafood processing products. Standard types include the following: straight cut, fish cut, contour cut, circle cut, and bevel cut.

Global Seafood Processing Equipment Market – By Distribution Channel

On the basis of distribution channel, the market is divided into offline mode and online mode in which offline mode of distribution channels are having a sizable amount of share in the market growth. Offline modes include the wholesalers and retailers which provide quality processing equipment which are a boost in the global seafood processing equipment market. Whereas online mode of distribution channel is not very much relied in case of global seafood processing equipment market.

Global Seafood Processing Equipment Market - Regional Insights

Geographically, global seafood processing equipment market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. During the forecast period, North America is expected to hold the highest market share, due to rising per capita income and increasing consumer preference for seafood prepared in North American countries (the US and Canada). As the number of people eating seafood grows in the region and as major Asia Pacific (APAC) countries set trends in consumption toward healthier eating, APAC is projected to account for the second highest market share in the global seafood processing equipment market.

Competitive Landscape

Key players operating in the global seafood processing equipment market are Mowi, JBT, Marel, BAADER, Seafood Technology Limited, Pisces Fish Machinery Inc., Cabinplant A/S, Uni-Food Technic A/S, M.T.C. Food Equipment, Inc., CERMAQ and other prominent players. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Recent Development

• New nationwide frozen fish brand Mixter's Wixter Market introduced in June 2020. The increased demand for frozen seafood around the world is directly attributable to the brand's ability to help the company develop internationally.

Scope of the Report

By Seafood Type

• Fish

  1. Salmon

  2. Tuna

  3. Pollock

  4. Others

• Crustaceans

  1. Crabs

  2. Shrimps

  3. Prawns

  4. Others

• Mollusks

  1. Scallops

  2. Oysters

  3. Others

• Others

By Equipment Type

• Gutting

• Slaughtering

• Scaling

• Skinning

• Deboning

• Filleting

• Others

By Distribution Channel

• Online

• Offline

By Application

• Frozen

• Smoked

• Canned

• Dried

• Others

By Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown and Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents
   5. Assumption & Limitation
3. Executive Summary
4. Global Seafood Processing Equipment Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Advancement/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Global Seafood Processing Equipment Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Thousand Units)
   2. Market Share & Forecast
      1. By Seafood Type
         1. Fish
            1. Salmon
            2. Tuna
            3. Pollock
            4. Others
         2. Crustaceans
            1. Crabs
            2. Shrimps
            3. Prawns
            4. Others
         3. Mollusks
            1. Scallops
            2. Oysters
            3. Others
         4. Others
      2. By Equipment Type
         1. Gutting
         2. Slaughtering
         3. Scaling
         4. Skinning
         5. Deboning
         6. Filleting
         7. Others
      3. By Distribution Channel
         1. Online
         2. Offline
      4. By Application
         1. Frozen
         2. Smoked
         3. Canned
         4. Dried
         5. Others
      5. By Region
         1. North America
         2. Europe
         3. Asia Pacific
         4. Latin America
         5. Middle East and Africa
6. North America Seafood Processing Equipment Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Thousand Units)
   2. Market Share & Forecast
      1. By Seafood Type
      2. By Equipment Type
      3. By Distribution Channel
      4. By Application
      5. By Country
         1. United States
         2. Canada
7. Europe Seafood Processing Equipment Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Thousand Units)
   2. Market Share & Forecast
      1. By Seafood Type
      2. By Equipment Type
      3. By Distribution Channel
      4. By Application
      5. By Country
         1. Sweden
         2. Norway
         3. Iceland
         4. United Kingdom
         5. Netherlands
         6. France
         7. Spain
         8. Rest of Europe
8. Asia Pacific Seafood Processing Equipment Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Thousand Units)
   2. Market Share & Forecast
      1. By Seafood Type
      2. By Equipment Type
      3. By Distribution Channel
      4. By Application
      5. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Indonesia
         6. Vietnam
         7. Rest of Asia Pacific
9. Latin America Seafood Processing Equipment Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Thousand Units)
   2. Market Share & Forecast
      1. By Seafood Type
      2. By Equipment Type
      3. By Distribution Channel
      4. By Application
      5. By Country
         1. Brazil
         2. Chile
         3. Mexico
         4. Rest of Latin America
10. Middle East and Africa Seafood Processing Equipment Market
    1. Market Size & Forecast by Value, 2018-2028
       1. By Value (USD Million)
       2. By Volume (Thousand Units)
    2. Market Share & Forecast
       1. By Seafood Type
       2. By Equipment Type
       3. By Distribution Channel
       4. By Application
       5. By Country
          1. Saudi Arabia
          2. UAE
          3. Oman
          4. Qatar
          5. South Africa
          6. Rest of Middle East & Africa
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership.)
12. Impact of Covid-19 on Global Seafood Processing Equipment Industry
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Mowi
    2. JBT
    3. Marel
    4. BAADER
    5. Seafood Technology Limited
    6. Pisces Fish Machinery Inc.
    7. Cabinplant A/S
    8. Uni-Food Technic A/S
    9. M.T.C. Food Equipment, Inc.
    10. CERMAQ
    11. Other Prominent Players
14. Key Strategic Recommendations

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List Of Figures

Figure 1              Global Seafood Processing Equipment Segmentation

Figure 2              Global Seafood Processing Equipment Market Value Chain Analysis

Figure 3              Company Market Share Analysis, 2021

Figure 4              Global Seafood Processing Equipment Market Size, By Value (USD Million), 2018-2028

Figure 5              Global Seafood Processing Equipment Market Size, By Volume (Thousand Units), 2018-2028

Figure 6       Global Seafood Processing Equipment Market Share, By Equipment Type, By Value, 2018-2028

Figure 7              Global Seafood Processing Equipment Market Share, By Seafood Type, By Value, 2018-2028

Figure 8              Global Seafood Processing Equipment Market Share, By Distribution Channel, By Value, 2018-2028

Figure 9              Global Seafood Processing Equipment Market Share, By Application, By Value, 2018-2028

Figure 10           Global Seafood Processing Equipment Market Share, By Region, By Value, 2018-2028

Figure 10           North America Seafood Processing Equipment Market Size, By Value (USD Million), 2018-2028

Figure 11     North America Seafood Processing Equipment Market Size, By Volume (Thousand Units), 2018-2028

Figure 12           North America Seafood Processing Equipment Market Share, By Equipment Type, By Value, 2018-2028

Figure 13           North America Seafood Processing Equipment Market Share, By Seafood Type, By Value, 2018-2028

Figure 14           North America Seafood Processing Equipment Market Share, By Distribution Channel, By Value, 2018-2028

Figure 15           North America Seafood Processing Equipment Market Share, By Application, By Value, 2018-2028

Figure 16           North America Seafood Processing Equipment Market Share, By Country, By Value, 2018-2028

Figure 17           Europe Seafood Processing Equipment Market Size, By Value (USD Million), 2018-2028

Figure 18     Europe Seafood Processing Equipment Market Size, By Volume (Thousand Units), 2018-2028

Figure 19           Europe Seafood Processing Equipment Market Share, By Equipment Type, By Value, 2018-2028

Figure 20           Europe Seafood Processing Equipment Market Share, By Seafood Type, By Value, 2018-2028

Figure 21           Europe Seafood Processing Equipment Market Share, By Distribution Channel, By Value, 2018-2028

Figure 22           Europe Seafood Processing Equipment Market Share, By Application, By Value, 2018-2028

Figure 23           Europe Seafood Processing Equipment Market Share, By Country, By Value, 2018-2028

Figure 24           Asia Pacific Seafood Processing Equipment Market Size, By Value (USD Million), 2018-2028

Figure 25      Asia Pacific Seafood Processing Equipment Market Size, By Volume (Thousand Units), 2018-2028

Figure 26           Asia Pacific Seafood Processing Equipment Market Share, By Equipment Type, By Value, 2018-2028

Figure 27           Asia Pacific Seafood Processing Equipment Market Share, By Seafood Type, By Value, 2018-2028

Figure 28           Asia Pacific Seafood Processing Equipment Market Share, By Distribution Channel, By Value, 2018-2028

Figure 29           Asia Pacific Seafood Processing Equipment Market Share, By Application, By Value, 2018-2028

Figure 30           Asia Pacific Seafood Processing Equipment Market Share, By Country, By Value, 2018-2028

Figure 31           Latin America Seafood Processing Equipment Market Size, By Value (USD Million), 2018-2028

Figure 32      Latin America Seafood Processing Equipment Market Size, By Volume (Thousand Units), 2018-2028

Figure 33           Latin America Seafood Processing Equipment Market Share, By Equipment Type, By Value, 2018-2028

Figure 34           Latin America Seafood Processing Equipment Market Share, By Seafood Type, By Value, 2018-2028

Figure 35           Latin America Seafood Processing Equipment Market Share, By Distribution Channel, By Value, 2018-2028

Figure 36           Latin America Seafood Processing Equipment Market Share, By Application, By Value, 2018-2028

Figure 37           Latin America Seafood Processing Equipment Market Share, By Country, By Value, 2018-2028

Figure 38           Middle East and Africa Seafood Processing Equipment Market Size, By Value (USD Million), 2018-2028

Figure 39     Middle East and Africa Seafood Processing Equipment Market Size, By Volume (Thousand Units), 2018-2028

Figure 40           Middle East and Africa Seafood Processing Equipment Market Share, By Equipment Type, By Value, 2018-2028

Figure 41           Middle East and Africa Seafood Processing Equipment Market Share, By Seafood Type, By Value, 2018-2028

Figure 42           Middle East and Africa Seafood Processing Equipment Market Share, By Distribution Channel, By Value, 2018-2028

Figure 43           Middle East and Africa Seafood Processing Equipment Market Share, By Application, By Value, 2018-2028

Figure 44           Middle East and Africa Seafood Processing Equipment Market Share, By Country, By Value, 2018-2028

List Of Tables

Table 1       Global Seafood Processing Equipment Market Size, By Equipment Type, By Value, 2018-2028

Table 2                         Global Seafood Processing Equipment Market Size, By Seafood Type, By Value, 2018-2028

Table 3        Global Seafood Processing Equipment Market Size, By Distribution Channel, By Value, 2018-2028

Table 4     Global Seafood Processing Equipment Market Size, By Application, By Value, 2018-2028

Table 5       Global Seafood Processing Equipment Market Size, By Region, By Value, 2018-2028

Table 6        North America Seafood Processing Equipment Market Size, By Equipment Type, By Value, 2018-2028

Table 7       North America Seafood Processing Equipment Market Size, By Seafood Type, By Value, 2018-2028

Table 8   North America Seafood Processing Equipment Market Size, By Distribution Channel, By Value, 2018-2028

Table 9                     North America Seafood Processing Equipment Market Size, By Application, By Value, 2018-2028

Table 10    North America Seafood Processing Equipment Market Size, By Country, By Value, 2018-2028

Table 11     Europe Seafood Processing Equipment Market Size, By Equipment Type, By Value, 2018-2028

Table 12       Europe Seafood Processing Equipment Market Size, By Seafood Type, By Value, 2018-2028

Table 13             Europe Seafood Processing Equipment Market Size, By Distribution Channel, By Value, 2018-2028

Table 14             Europe Seafood Processing Equipment Market Size, By Application, By Value, 2018-2028

Table 15             Europe Seafood Processing Equipment Market Size, By Country, By Value, 2018-2028

Table 16             Asia Pacific Seafood Processing Equipment Market Size, By Equipment Type, By Value, 2018-2028

Table 17             Asia Pacific Seafood Processing Equipment Market Size, By Seafood Type, By Value, 2018-2028

Table 18             Asia Pacific Seafood Processing Equipment Market Size, By Distribution Channel, By Value, 2018-2028

Table 19             Asia Pacific Seafood Processing Equipment Market Size, By Application, By Value, 2018-2028

Table 20             Asia Pacific Seafood Processing Equipment Market Size, By Country, By Value, 2018-2028

Table 21             Latin America Seafood Processing Equipment Market Size, By Equipment Type, By Value, 2018-2028

Table 22             Latin America Seafood Processing Equipment Market Size, By Seafood Type, By Value, 2018-2028

Table 23             Latin America Seafood Processing Equipment Market Size, By Distribution Channel, By Value, 2018-2028

Table 24             Latin America Seafood Processing Equipment Market Size, By Application, By Value, 2018-2028

Table 25             Latin America Seafood Processing Equipment Market Size, By Country, By Value, 2018-2028

Table 26             Middle East and Africa Seafood Processing Equipment Market Size, By Equipment Type, By Value, 2018-2028

Table 27             Middle East and Africa Seafood Processing Equipment Market Size, By Seafood Type, By Value, 2018-2028

Table 28             Middle East and Africa Seafood Processing Equipment Market Size, By Distribution Channel, By Value, 2018-2028

Table 29             Middle East and Africa Seafood Processing Equipment Market Size, By Application, By Value, 2018-2028

Table 30             Middle East and Africa Seafood Processing Equipment Market Size, By Country, By Value, 2018-2028

Table 31             Mowi Company Overview

Table 32             Mowi Financial Overview

Table 33             JBT. Company Overview

Table 34             JBT. Financial Overview

Table 35             Marel Company Overview

Table 36             Marel Financial Overview

Table 37             BAADER Company Overview

Table 38             BAADER Financial Overview

Table 39             Seafood Technology Limited Company Overview

Table 40             Seafood Technology Limited Financial Overview

Table 41             Pisces Fish Machinery Inc. Company Overview

Table 42             Pisces Fish Machinery Inc. Financial Overview

Table 43             Cabinplant A/S Company Overview

Table 44             Cabinplant A/S Financial Overview

Table 45             Uni-Food Technic A/S Company Overview

Table 46             Uni-Food Technic A/S Financial Overview

Table 47             M.T.C. Food Equipment, Inc. Company Overview

Table 48             M.T.C. Food Equipment, Inc. Financial Overview

Table 49             CERMAQ Company Overview

Table 50             CERMAQ Financial Overview