About Processed Seafood
The process of seafood is a major part of the seafood value chain. As per the European Commission 2016, the UK fish processing sector is the largest in terms or employment and turnover. In the processed seafood market North America is a developed region and Europe is emerging in a rapid manner. And the fastest-growing region in the sea food market in Asia pacific. The major players such as GEA from Germany and Marel from Iceland are enhancing their business by acquisitions across the globe to serve to enhance penetration in the seafood-processing market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.7% |
The global processed Seafood market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Processed Seafood market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Middleby Corporation (United States), GEA Group Aktiengesellschaft (Germany), John Bean Technologies Corporation (United States), 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) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Marine Harvest (Norway), Thai Union Frozen Products (Thailand), Maruha Nichiro Corporation (Japan), Nippon Suisan Kaisha (United States), Kyokuyo (Japan), Trident seafood (United States) and Nueva Pescanova (Spain).
Segmentation Overview
AMA Research has segmented the market of Global Processed Seafood market by Type (Fish, Crustaceans and Mollusks), Application (Household, Commercial and Others) and Region.
On the basis of geography, the market of Processed Seafood has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Processing Category, the sub-segment i.e. Primary Processor will boost the Processed Seafood market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product, the sub-segment i.e. Frozen Seafood will boost the Processed Seafood market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Main Fish Category, the sub-segment i.e. Saltwater will boost the Processed Seafood market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase Demand Of Froze Fish Exports in China, United States, Russia and Others and Increase Concern towards Food Security and Nutrition
Market Growth Drivers:
Increase in Freezing and Storage Capacity, Stronger Demand for Sustainable Seafood and Increasing Number of ‘Metro Stores’ Increase the Number of Sales Outlets for Seafood
Challenges:
Remote Geography of Some Plants Limits Access to Resources or Market and Access and Supply of Skilled Labour Is Low
Restraints:
Declining Supplies of UK Raw Material, Increased Competition between Processors and Poor Environmental Reputation of Some Fisheries
Opportunities:
Growing Demand for Seafood Products, The rise in Domestic Sea Food Market, Strong Export Market and Increasing Uptake of Certifications for Sustainable Seafood
Market Leaders and their expansionary development strategies
In November 2023, Eddie M’s announced has acquired and is merging with Minnetonka, Minnesota, U.S.A.-based American Fish and Seafood Inc. Eddie M’s Owner and CEO Jordan Mazzetta said the newly formed joint company will now be based out of Eddie M’s Plymouth, Minnesota-based facility. The facility, which measures 65,000 square feet, will serve as the processing and distribution facility for customers of both companies.
In September 2022, Seafood Alliance is ramping up efforts to engage eaters with the launch of its new Best Aquaculture Practices (BAP) consumer-facing website. The site is part of a broader campaign to encourage the consumption of sustainably sourced seafood. BAP’s new website provides visitors with background information on aquaculture and recipes.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Processed Seafood Manufacturers, Suppliers and Distributors, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.