The Fish Processing Equipment Market is being driven by Increasing consumption and demand for fish and fish products
The Fish Processing Equipment Market is expected to grow at a CAGR of 1.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 63.5 million. The global fish processing market is witnessing significant growth, with numerous companies expanding their operations in various regions to tap into new markets and boost sales and profits. Baader, a leading player in this industry, is actively participating in major trade shows, such as the Seafood Processing Global (SPG) in Barcelona, Spain, in April 2024, to showcase its innovative products and solutions. Additionally, Baader has recently inaugurated a new Latin American hub in Queretaro, Mexico, in January 2024, further expanding its footprint and enhancing its ability to serve customers in the region. These strategic expansions underscore Baader's commitment to growth and its position as a key player in the fish processing equipment market.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
248 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 1.4% |
Market growth 2025-2029 |
USD 63.5 million |
Market structure |
market_structure.ucfirst |
YoY growth 2024-2025(%) |
1.4 |
Key countries |
US, China, Norway, Vietnam, Germany, India, UK, Canada, France, and Chile |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The global fish processing equipment market is driven by the expanding global seafood market, with a focus on the nutritional benefits of fish, particularly omega 3 fatty acids in the fish oil market. Aquaculture species, including salmon and pollock, face challenges such as bacterial illnesses, leading to increased demand for automation and processing byproducts. FDA authorization and food safety regulations prioritize hygiene and environmental sustainability in seafood processing facilities. Process water and waste volume are key considerations, with a focus on reducing overfishing, bycatch, and wastewater's biological oxygen demand. Value-added items, seafood export, and demand from restaurants and catering services also impact market growth.
The Fish Processing Equipment Market is a significant segment of the global Industrial Machinery and Supplies and Components Market, encompassing companies that manufacture machinery and components for fish processing. This market's growth is driven by the expanding fish oil market, increasing demand for aquaculture therapeutics, and FDA authorization of Omega 3 fatty acids in various applications. Aquaculture species, particularly those susceptible to bacterial illnesses, require advanced processing equipment to ensure nutritional value and maintain product quality. The global industrial machinery and supplies and components market's expansion is fueled by the increasing industrial output, particularly in developing countries, leading to capacity additions in process and discrete industries, including fish processing. Industries producing energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages continue to experience growing demand due to economic expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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