Market Overview:
The global fish processing market involves the processing and preservation of various fish and seafood products for human consumption. It includes several activities such as cleaning, filleting, gutting, scaling, smoking, and canning of fish products. The processed fish products are then sold to retailers, foodservice providers, and other industrial users.
The demand for fish and seafood products is increasing due to the growing awareness of the health benefits of seafood, including its high nutritional value, omega-3 fatty acids, and low fat content. Additionally, the rising popularity of seafood in Asian and European cuisines is expected to drive the growth of the global fish processing market.
The market is also influenced by factors such as government regulations on fishing and aquaculture, the increasing demand for sustainable seafood practices, and the development of new processing technologies.
The global fish processing market is segmented based on product type, application, and region. Some of the common product types in the market include frozen fish, canned fish, smoked fish, fishmeal, and fish oil. Applications of fish processing include food and beverage, pharmaceuticals, and animal feed. Regions in the market include North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Overall, the global fish processing market is expected to grow in the coming years, driven by the increasing demand for seafood, the rising popularity of Asian and European cuisines, and the development of new processing technologies.
Covid-19 Impact:
The global fish processing market has been impacted by the COVID-19 pandemic in several ways. The pandemic has disrupted the global supply chain, resulting in a decrease in the production and distribution of fish and seafood products. The closure of restaurants and foodservice outlets has also led to a decline in demand for processed fish products.
However, the pandemic has also resulted in increased demand for frozen and canned fish products, as consumers have stockpiled non-perishable food items. The growing popularity of online grocery shopping has also driven the demand for processed fish products, as consumers look for convenient and easily accessible food options.
The pandemic has also highlighted the importance of sustainable fishing practices and the need for greater transparency in the seafood supply chain. This has led to increased demand for certified sustainable seafood products and a growing focus on the traceability of fish and seafood products.
Overall, the COVID-19 pandemic has had a mixed impact on the global fish processing market. While it has resulted in short-term disruptions, it has also led to increased demand for certain types of fish products and a greater focus on sustainable and transparent practices in the seafood industry.
Market Dynamics:
Drivers:
Several drivers are fueling the growth of the global fish processing market. Some of the key drivers include:
Overall, these drivers are expected to continue to fuel the growth of the global fish processing market in the coming years.
Regional Analysis:
The global fish processing market can be segmented based on region into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Overall, the global fish processing market is expected to grow in all regions due to the increasing demand for seafood products and the adoption of sustainable fishing practices. However, the growth rates may vary by region depending on factors such as consumer preferences, government regulations, and the availability of fish and seafood resources.
Market Segmentation:
The global fish processing market can be segmented on the basis of product type, application, and processing equipment.
The frozen fish segment is expected to hold the largest share in the market due to the increasing demand for frozen fish products and their longer shelf life. The canned fish segment is also expected to grow significantly due to the increasing popularity of canned fish products among consumers.
In terms of application, the food segment is expected to hold the largest share in the market due to the increasing demand for processed fish products for human consumption. The non-food segment, which includes products such as fish oil and fish meal, is also expected to grow due to the increasing demand for these products in the animal feed and pharmaceutical industries.
Based on processing equipment, the filleting machines segment is expected to hold the largest share in the market due to their high efficiency and accuracy in filleting fish. The gutting and scaling machines segment is also expected to grow due to their ability to improve the efficiency of fish processing and reduce labor costs.
Overall, the global fish processing market is expected to grow across all product types, applications, and processing equipment segments due to the increasing demand for processed fish products and the adoption of advanced processing technologies.
Competitive Landscape:
Some of the key players operating in the global fish processing market are:
These companies are involved in various activities such as processing, packaging, and distribution of fish products across the globe. They are also investing heavily in R&D activities to develop innovative fish processing technologies and to expand their product portfolios. The competition in the market is intense, with players focusing on increasing their market share through mergers and acquisitions, partnerships, and collaborations.
Why to buy this Report?
The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
§ Business Model
§ Production Capacity, Revenue, Sales, Gross Margin
§ Key Business Strategy
§ SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
§ Company Share Analysis from 2018-2022
§ Company Analysis by Revenue and Sales
§ Company Production Capacity, Gross Margin
§ Company Share Analysis by Application/End Use
§ Company Share Analysis by Product/Specification
Global Fish Processing Market: Market Size Estimation
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Market Research Process
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One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
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