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Seafood Processing Equipment Market Size

Report ID: GMI6852
Published Date: Oct 2023
Report Format: PDF

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Seafood processing equipment Market Size

Seafood Processing Equipment Market size was valued at around USD 1.9 billion in 2022 and is estimated to witness 4.5% CAGR from 2023 to 2032. Rising global demand for seafood products, driven by population growth and changing dietary preferences, leads to increased processing needs. Growing awareness of the nutritional benefits of seafood, including omega-3 fatty acids, encourages higher seafood consumption.

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Demand for convenient and ready-to-eat seafood products, such as fillets, portions, and value-added items, fuels the need for specialized processing equipment. Expansion of seafood export markets drives investment in processing equipment to meet international quality and safety standards.

Seafood Processing Equipment Market Report Attributes
Report Attribute	Details
Base Year:	2022
Seafood Processing Equipment Market Size in 2022:	USD 1.9 billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	4.5%
2032 Value Projection:	USD 2.9 billion
Historical Data for:	2018 to 2022
No. of Pages:	150
Tables, Charts & Figures:	304
Segments covered:	Equipment type, Automation level, Application, End-use, Distribution channel, Region
Growth Drivers:	Increasing consumer awareness on health benefits Growing seafood industry Rising global demand for seafood
Pitfalls & Challenges:	Regulatory Compliance Cost Pressure Environmental Concerns

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Strict regulations and standards related to food safety, hygiene, and environmental sustainability impose compliance challenges on seafood processors. Competition in the seafood industry puts pressure on processors to lower production costs. Concerns about overfishing, bycatch, and environmental sustainability impact seafood sourcing and processing practices. Thus, the risks associated with Seafood processing equipment may drive down the acceptance rate, further hampering the seafood processing equipment market growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of seafood processing equipment was worth USD 1.9 billion in 2022 and will reach USD 2.9 billion by 2032, due to the rising global demand for seafood products along with population growth and changing dietary preferences.

Seafood processing equipment market from the slaughtering equipment type segment reached USD 0.4 billion in 2022 and is expected to witness significant growth from 2023 to 2032, on account the rising need to efficiently process seafood for ensuring high yield and minimal wastage.

U.S. seafood processing equipment industry crossed USD 0.6 billion in 2022 and is slated to observe commendable growth from 2023 to 2032, owing to the increasing consumption of seafood products in the region.

Marel, JBT Corporation, GEA Group AG, The Middleby Corporation, John Bean Technologies (JBT), Uni-Food Technic A/S, Baader Group, Skaginn 3X, Arenco AB, Optimar AS, and Cretel NV are some of the major seafood processing equipment companies worldwide.