The boom in aquaculture, the development of the seafood trade, the increase in the consumption of processed seafood, the increase in demand for automated equipment are stimulating the market.
PORTLAND, OR, UNITED STATES, Sep 23, 2021 /EINPresswire.com/ – Seafood Processing Equipment Market by Seafood Type (Fish, Crustaceans, Shellfish, and Others) and Equipment Types (Evisceration, Scaling, Skinning, Boning, Filleting and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026. “According to the report, the global Seafood Processing Equipment industry was estimated at 2.26 billion in 2018 and is expected to reach $ 3.47 billion by 2026, registering a CAGR of 5.7% during 2019-2026.
The flourishing aquaculture industry, the development of the seafood trade, the increase in the consumption of processed seafood products and the increase in the demand for automated equipment by the agri-food industry are driving the growth of the global market. seafood processing equipment. On the other hand, the decline in the seafood population and the decrease in the use of automated equipment due to high capital expenditure is hampering growth in a certain degree. measure. Nevertheless, innovation in seafood processing technologies is expected to create a number of opportunities in the industry.
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On the basis of the type of equipment, the filleting segment accounted for almost a quarter of the global seafood processing equipment market in 2018 and is expected to maintain its dominance by the end of 2026. New technologies of transformation are discovered and implemented to deliver safer, fresher taste. Nutritious, seafood made without the use of chemical preservatives. This leads to increased availability of seafood and its products in several regions of the world. The boning segment, on the other hand, is said to have the fastest CAGR of 6.2% through 2026. Automated pin bones minimize production time, save labor and ensure maximum yield and are therefore largely adopted by seafood processors.
Based on the type of seafood, the fish segment held the largest share in 2018, accounting for two-thirds of the global seafood processing equipment market. The fact that finfish are typically tender, digested effortlessly and a good source of several vital minerals stimulates segment growth. On the other hand, the shellfish segment is expected to register the fastest CAGR of 5.9% in 2019-2026. This is due to the fact that mollusks have a high content of monounsaturated and polyunsaturated fats and provide high quality protein, which is essential for the growth of the human body.
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Based on geography, the Asia-Pacific region contributed nearly two-thirds of the global seafood processing equipment market share in 2018 and is expected to dominate throughout the estimated period. The aquaculture sector in Asia-Pacific is very promising and has experienced drastic growth in recent years. This is attributed to the great accessibility of cheap labor, land and other natural resources. Asian countries also contribute nearly 88% of global livestock food production, of which 96% is engaged in fish farming. The same region would also cite the fastest CAGR of 5.80% by 2026. However, North America appears as the second largest shareholder in terms of revenue.
Top Key Players
MTC Food Equipment, Inc.
Fish Fish Machinery Inc.
Limited seafood technology
Uni-Food Technic A / S
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