The Middle East and Africa Fish Processing Market was worth USD 19.84 billion in 2021 and estimated to be growing at a CAGR of 3.3% to reach USD 23.040 billion by 2026. The market is expected to grow at a decent rate in the mentioned forecasting period and it continues to gain momentum with the ever increasing demand for fish consumption.
Fish Processing is the process which starts with the catching of fishes and ends at final shipping to customers. It includes entire species of aquatic organisms, irrespective of the place they are obtained from. Fish is a very perishable food and hence needs to be stored and preserved properly for protection against decaying. Some of the popular fish processes used for fish preservation are surimi, curing, salting, drying, and smoking.
The major driving factors for the market of Middle-East and Africa Fish Processing are the growth of population and increase in the spending on food. Also, the rising demand for the variety of seafood is a factor which is estimated to propel the market in future. However, the recently developing trend of vegetarian and vegan diets could pose as a major threat for the growth of this market.
The Middle-East and Africa Fish Processing Market is segmented on the basis of Fish Processing Category into Frozen, Preserved and others. On the basis of Application the market is segmented as Food and Non-Food. The food segment leads the market under the segmentation on the basis of application due to increased inclusion of fish in people’s diets. Based on Source the market is categorized as Marine and Inland. The fish harvested from marine sources lead the market due to the development of new techniques for fishing. On the basis of Species the market is segmented as Fish, Crustaceans, Mollusks and Others. On the basis of Equipment the market is segmented as Slaughtering, Gutting, Scaling, Filleting, Deboning, Skinning, Smoking and Others.
Geographically the Middle East and Africa Fish Processing Market is segmented into KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan and Rest of MEA. The growth of fishery as an occupation in this region has been accelerated since the past few years and this has led to the development of fish processing industry. The market in this region has a bright future in the years to come.
Key Players in the Market:
Major Key Players in the MEA Fish Processing Market are
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