Global Fish Processing Market By Overview
Fish Processing Market was valued at US$ 235.7 Billion in 2024 and is projected to grow at a CAGR of 10.4% to reach US$ 579.7 Billion by 2034.
Fish Processing is the chemical or mechanical operations which are performed on fish for preserving or transforming. In various ways fish are processed. Gutting & cleaning is the simple processing technique which is designed for extending shelf life of fish. Fish processing is done by following steps such as firstly sorting fish by sizes, then fish are loaded into machines for removal of head, then fish are moved to cleaning machine for removal of scales, tails, and entrails, removing fins and lastly washing fish thoroughly. Fish processing activities includes, fish dressing, glazing, freezing, salting, milt processing, roe processing, smoking, etc. It also includes some additional process such as extraction of oil, meal production and packaging. Importance of fish processing has driven the market growth because it prevents wastage of fish, prolong shell-life of fish and increase the dollar reserve in country by exportation.
Global Fish Processing Market By Dynamics
Major factors driving growth of the fish processing market are health benefits and high nutritional value of the fish and fish products, causing the continuous rise in demand of seafood. Dietary habits of consumers and their demand for differentiated as well as value-added seafood products are factors expected to propel growth of the target market in the near future. In addition, government support for fishing activities and technological advancement are also factors expected to fuel the growth of the global fish processing market over the forecast period. However, proper handling of the product for longer shelf life so that it does not lose its nutritional value and desired quality is the primary restraint of the global market.
Global Fish Processing Market By Segmentation
Fish processing market is segmented on the basis of species, source, product processing category, application, equipment, and region.
On the basis of species, global fish processing market is segmented into fish, crustaceans, mollusks, and others (Turtles and Urchins). Fishes are obtained from freshwater, marine, and inland. Marine segment occupies the largest market share due to modern techniques, and methods of fishing. Categories of processing fish are frozen, preserved, dried, and others (smoked and surimi). Frozen is the most common fish processing type practiced and is expected to generate major revenue share during the forecast period. Based on application, the target market is classified into food and non-food segments. Food occupies the largest market share in fish processing market. Non-food processing application is further sub-segmented as fertilizers, fish oil, industrial uses, fish meal, and cosmetics. Equipment used for fish processing are Slaughtering, Gutting, Scaling, Filleting, Deboning, Skinning, Curing & Smoking, and others.
Regional Insights:
The fish processing market is segmented regionally into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. Europe is the dominating region in the global fish processing market. European countries such as Spain, Portugal, Poland, and Denmark have fishery as their main occupation and thus they are leading exporters to the North American and European countries.
Global Fish Processing Market By Key Players
Key players operating in the fish processing market includes Maruha Nichiro Corporation, Norway Pelagic ASA, Thai Union Frozen Products PLC, Nippon Suisan Kaisha, Ltd., Leroy Seafood Group ASA, Marine Harvest, Dong Won Fisheries, High Liner Foods Incorporated, Findus Group, Faroe Seafood, Kverva, and Hansung Enterprise.
Global Fish Processing Market By Highlights
FAQs
The fish processing market report is segmented into species, source, product processing category, application, equipment, and region.
Factors driving market growth include the increasing demand for processed fish products, advancements in processing technology, and the rise in global seafood consumption.
Global restraints may include challenges related to sustainability and overfishing, regulatory complexities, and the impact of environmental factors on fish populations.
The report covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is expected to dominate the Fish Processing Market, exhibiting a significantly high revenue share over the forecast period.
Key players operating in the fish processing market includes Maruha Nichiro Corporation, Norway Pelagic ASA, Thai Union Frozen Products PLC, Nippon Suisan Kaisha, Ltd., Leroy Seafood Group ASA, Marine Harvest, Dong Won Fisheries, High Liner Foods Incorporated, Findus Group, Faroe Seafood, Kverva, and Hansung Enterprise.