The seafood processing equipment market size is projected to grow from USD 1.5 billion in 2018 to USD 1.9 billion by 2023, at a CAGR of 5.6% during the forecast period. The processed seafood market size is projected to grow from USD 207.6 billion in 2018 to USD 267.3 billion by 2023, at a CAGR of 5.2% during the forecast period.
The processed seafood & seafood processing equipment market is driven by factors such as growth in the aquaculture industry, increased seafood trade, increased consumption of processed seafood products, and increased health consciousness among consumers. However, the requirement of capital investment, along with a low replacement frequency of these equipment is projected to hinder the growth of the market.
The processed seafood market comprises major manufacturers such as the Middleby Corporation (US), GEA Group Aktiengesellschaft (Germany), John Bean Technologies Corporation (US), Marel hf. (Iceland), the BAADER-Group (Germany), Uni-Food Technic A/S (Denmark), Skaginn 3X (Iceland), Arenco AB (Denmark), Zhengda Food Machinery Co. Ltd (China), and KROMA A/S (Denmark).
The seafood processing equipment market comprises major manufacturers such as Charoen Pokphand Foods Plc. (Thailand), Maruha Nichiro Corporation (Japan), Nippon Suisan Kaisha, Ltd. (Japan), Thai Union Frozen Products Public Company Limited (Thailand), Mowi ASA (Norway), Leroy Seafood Group ASA (Norway), Nueva Pescanova Group (Spain), High Liner Foods Inc (Canada), Royal Greenland A/S (Denmark), and Clearwater Seafoods Incorporated (Canada).
The study includes an in-depth competitive analysis of these key players in the processed seafood & seafood processing equipment market, with their company profiles, recent developments, and the key market strategies. Acquisitions and agreements were the most dominating strategies adopted by major players. This has further helped them strengthen their position and expand their client base in the processed seafood & seafood processing equipment market.
The Middleby Corporation manufactures a broad line of equipment used in food processing operations. The company is engaged in designing, manufacturing, and marketing of cooking and warming equipment and equipment used in food processing. The company conducts its business through three principal business segments—the Commercial foodservice equipment group, the Food processing equipment group, and the Residential kitchen equipment group.
GEA Group Aktiengesellschaft is a leading manufacturer of a broad line of equipment used in food processing operations. The company is engaged in designing, manufacturing, and marketing of equipment used in food processing and other industries.
Charoen Pokphand Foods PCL distributes and exports under the brand name CP in Asia, Europe, and America. It operates in 16 countries and exports to more than 30 countries across five continents—Europe, the UK, Japan, the US, and other Asian countries. CPF Plc. (Thailand) and Chester’s Food Co., Ltd. (Thailand) are a few of subsidiaries of the company.
Maruha Nichiro Corporation is mainly engaged in fishing, aquaculture, processing, and sale of fishes and fish products. The company operates under six business segments—trading, processing, overseas business, fisheries & aquaculture, logistics, and others.