Increasing labor cost in seafood industry coupled with long processing equipments replacement life is expected to remain a key driving factor for seafood processing equipment market growth over the next seven years. These equipments are commercially available in different forms based on procedures such as filtering, gutting, deboning, scaling, skimming, slaughter and curing & smoking machines. Conventional salting and drying techniques are being substituted by mechanized methods resulting in higher safety and less labor intensive work. Key equipment processing companies are aiming on developing advanced processing equipments such as computer skimming in order to prevent seafood from deteriorating. This trend coupled with increasing processed food consumption is anticipated to fuel processed seafood demand. Shift in consumer preferences towards healthy and longer shelf life seafood is forcing end-use industries to upgrade quality standards. Increasing consumer willingness to pay for value added sea food is anticipated to fuel market growth over the forecast period. High equipment and raw material handling cost is anticipated to obstruct market growth and pose challenges to industry participants over the forecast period. Stringent governmental regulations such as The Domestic Fish and Fishery Products Compliance Program are projected to impede seafood processing equipment market growth and pose challenges to industry participants. Automated equipments are replacing conventional machines in order to improve finished products aesthetics. New product development and technological advancements is expected to increase demand and yield opportunities to industry participants over the forecast period.
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North America emerged as the key regional market owing to technological advancements coupled with high capital investments. Europe is expected to witness sluggish market growth over the forecast period owing to stagnant end-use industry growth in the region. Asia Pacific and Latin America are projected to witness considerable market growth owing to rising per capita disposable income and changing consumer taste and preferences. Increasing non vegan population and preference towards healthy food is anticipated to positively impact market in Asia Pacific over the forecast period.
Major players functioning in seafood processing equipment market include GEA Group, Manitowoc Company, Inc., JSC Nezhin Mechanical Factory, ATR Direct Ltd., Dinn Bangladesh Corporation, Seaco, Mr Fish International, Marbys Logical Food Process, S.L., Ace Aquatec, Seac AB and Marel.
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