The Fish Processing Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Fish Processing Market is estimated to be USD 183.24 billion in 2016 and predicted to rise to USD 220.28 billion by 2021 with a CAGR of 3.75%. The market is segmented by Fish Processing Category (Frozen, Preserved and Others), Application (Food, Non-Food), Source (Marine and Inland), Species (Fish, Crustaceans, Mollusks and Others) and Equipment (Slaughtering, Gutting, Scaling, Filleting, Deboning, Skinning, Smoking and Others). Further, the market is also geographically segmented into North America, Europe, Middle-East and Africa, Asia-Pacific, Latin America and Rest of the World.
Fish processing market has experienced a significant rise of demand in the recent years. The major drivers for the growth of this market are the increasing consumption of seafood, change in the diet of consumers and rising demand for the variety of seafood products. Apart from this, the growing fish feed, development in packaging and preserving methods of the fish also fuel the growth of global fish processing market. However, this market is restrained by the developing trend for vegan and vegetarian lifestyles which is recently being adopted by people. Also, the growing consumption of processed fish of some species is rendering them extinct, resulting in high price and market decline.
On the basis of application, the food segment leads the market under the segmentation due to increased inclusion of fish in people’s diets whereas on the basis of source, the fish harvested from marine sources lead the market owing to the development of new techniques for fishing.
Fish Processing Market is currently led by Europe, but Asia Pacific region is expected to grow at the highest CAGR in the future years. This can be attributed to the rise in population, increase in disposable income and the overall growth in consumption of fish owing to its nutritional properties.
The major players competing in this market are Maruha Nichiro Corporation (Japan), Pescanova S.A. (Spain), Royal Greenland A/S (Denmark), Norway Pelagic ASA and Charoen Pokphand Foods PCL (Thailand).
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