An Analytical View of Global Fish Processing Market


Fish Processing Market

 

Fish Processing Market – An Introduction

The term fish processing refers to the processes that are associated with fish and fish products. Operations in food processing include gathering, segregating, cutting, and packaging of seafood for retail purposes. It covers all the aquatic organisms under fish processing. The concept of fish processing is mainly to protect the fish from decaying. As fish is highly perishable product, it needs proper preservation to extend its shelf life while maintaining its nutritional quality. The fish processing industry acts as a link that connects customers and fishermen, providing the source of living to the later.

An Insightful Summary of Fish Processing Market

The global fish processing market has been experiencing a gradual growth over the past few decades. The market value is estimated to reach US$ 183.24 Billion by 2016, growing at a CAGR of 3.75%.

The global fish processing market is consists of species (fish varieties) originating through freshwater, marine, and inland sources. The marine fish processing industry has the largest market share. The modern techniques and methods in fish processing technology are contributing to the growth of global fish processing market. The global food processing market is playing a vital role in the development of food, feed, biomedical, fertilizers, cosmetics, and industrial sectors. The seafood products occupy the largest share of the market followed by feed and biomedical. The changing consumption habits of humans fuelled the growth of it in the world market.

The global fish processing market consists of using modern food processing technologies such as frozen, preserved, dried and others (smoked and surimi). The frozen kind of fish is the most common and widely practiced processing method. The global food processing market is serving the needs of both food and non-food sectors with the non-food processing sector recording the fastest growth due to various uses in different industrial applications.

Considering the regional outlook, the fish processing market is spread across North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific region holds the largest share in the fish processing market. The Asia-Pacific region is predicted to be the fastest-growing market over the forecast period of 2016 – 2021. Economic growth and shift of preferences of the consumers towards value-added processed fish products is the driving its share in the world market.

The Market leaders- Who are they?

China has been the market leader in Asia Pacific region. Other countries including Japan, Malaysia, and South Korea are majorly dependent on fish processing. Europe is the second dominating region in the global fish processing market. Various abundant facilities such as boats, advanced machinery, etc. are likely to increase its market value in the near future. Cold smoking and hot smoking are the widely used fish processing methods in the global market. Portugal is the fastest growing country with augmenting demand for sardine, turbot, hake, oysters, clams, and cod. Spain, Poland, and Denmark also contribute majorly to GDP growth in Europe with fishery as the principal occupation.

The major driving factors of the continuous rise in the fish processing market are changing consumer’s dietary habits and demand for differentiated seafood products. The fish processing industries are also accessible by seafood producers who control the quality and hygiene of the final product. Increasing fish feed, is also acting as an attribute in the growth of global fish processing market.

Development and distribution channel with enhancements in the technology used in packaging, processing, and fish storage is identified to play a pivotal role in fish processing market. However, the increase in the consumption of a processed fish, belonging to a particular species results in the drop of their supplies thereby resulting in an increase in their price in the global fish processing market. This factor becomes the restraining factor for the rising market growth of fish processing industry.

The leading players or companies in the fish processing market are Pelagia AS, Leroy, Pescanova USA, Maruha Nichiro Corporation, Royal Greenland A/S, NISSUI, High Liner Foods, Thai Union Group Public Company Limited, Charoen Pokphand Foods PCL, Channel Fish Processing Company, Marine Harvest ASA, etc. These companies are projected to frame individual strategies and gain competitive profits in the fish processing market.

Check out Market Data Forecast’s comprehensive reports with in-depth analysis about the Fish Processing Market and a free research sample can also be availed. Stay tuned for trending news stories about the latest technologies and interesting Food & Beverages tit-bits.


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