Global Fish Processing Market Trends, Analysis, Growth, and Forecast: 2017 to 2026

Global Fish Processing Market Overview :

“The global Fish Processing Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.

The global fish processing market report has been segmented on the basis of source, application, processing, equipment, and region.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analysed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Fish processing is widely used for preservation and processing. Fish processing helps to keep fish fresh for longer period of time with minimum loss of flavor, taste, odour, and nutritive value.

Increasing consumption of sea food globally coupled with rising awareness regarding the health benefits and nutritional value associated with seafood is a major factor expected to drive the growth of the market over the forecast period. Various government initiatives to support aquaculture industry is other factor expected to boost the growth of the market.

For instance, National Oceanic and Atmospheric Administration is setting a goal and providing funding to expand marine aquaculture production in the US. In addition, rising demand for fish oil in various industries and verticals are other factors expected to fuel growth of the global fish processing market over the forecast period.

However, rising prices of raw materials and stringent government regulations regarding the trading of fishes is a key factor expected to restrain growth of the global fish processing market over the forecast period.

Based on source, the global fish processing market is segmented based on marine, inland, and freshwater. The marine segment accounts for highest revenue contribution and this is attributed to use of modern techniques for fish farming and availability of wide fish variety.

Asia Pacific market dominates the global fish processing market in terms of revenue contribution as compared to that of markets in other regions. The market in the Asia Pacific is projected to register comparatively faster growth in terms of revenue over the next 10 years.

Changing living standards of the people, coupled with rising demand for seafood in countries in the region are primary factors projected to drive market growth in the region over the forecast period. North America accounts for larger revenue share contribution to the global fish processing market, followed by markets in Europe, Latin America, and the Middle East & Africa respectively.

Global Fish Processing Market Segmentation:

Global fish processing market segmentation, by source:

• Marine
• Inland
• Freshwater

Global fish processing market segmentation, by application:

• Food
• Feed
• Biomedical
• Others (fertilizers, cosmetics and industrial uses)

Global fish processing market segmentation, by processing:

• Frozen
• Preserved
• Others (smoked, salted)

Global fish processing market segmentation, by equipment:

• Gutting
• Scaling
• Filleting
• Deboning
• Skinning
• Curing & Smoking
• Others (which includes packing and storing machines)

Global fish processing market segmentation, by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa