The North America Fish Processing Market was worth USD 49.31 billion in 2021 and estimated to be growing at a CAGR of 4.2%, to reach USD 59.42 billion by 2026. The market has abundant growth potential in the mentioned forecasting period and it continues to gain momentum with the recent increase in the demand of fish.
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 North America Fish Processing are advancement in the fishing technologies as well as the increased demand for fish medicines and food owing to its high nutritional value. Also, the rising demands of people for variety in the seafood is expected to drive the growth of market in this region. However, the people here are gradually accepting vegetarian and vegan diets and this is a major constraint for the growth of this market.
The North America 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 North America Fish Processing Market is segmented into US, Canada and Rest of North America. Both the countries have a high trend of eating seafood and the demand for variety is expected to be the reason for high CAGR of the market in this region.
Key Players in the Market:
Major Key Players in the North America Fish Processing Market are
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