Growth of processed seafood market is expected to show a positive trend in the near future

Posted on 2020-11-19 by MarketsandMarkets in Food & Beverage // 0 Comments

The global seafood processing equipment market size is projected to grow from USD 1.4 billion in 2018 to USD 1.9 billion by 2023, at a CAGR of 5.6% during the forecast period. The global 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%

The growth of processed seafood market is expected to show a positive trend in the near future. Factors like increasing health consciousness among the seafood consumers and the changing lifestyle trends of the people are increasing the market for processed seafood industry.. The expanding and developing retail industry in the Asia-Pacific and ROW region is also helping to maintain the growth of processed seafood industry in the long term.

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The Asia Pacific market accounted for the largest share in the processed seafood market. The seafood processing market is projected to grow, as the food processing sector is projected to witness the fastest growth in this region. The processed seafood market in the Asia Pacific region is witnessing significant growth due to the busy lifestyles of customers.

Seafood Processing Equipment Market

Source: MarketsandMarkets Analysis

Currently, the processed seafood market in the region is also undergoing a significant transformation in response to rapid urbanization and diet diversification. In addition, consumer demand for convenience and processed seafood offers profitable growth prospects and diversification in the region’s food sector. This will subsequently, drive the growth of the processed seafood market in the Asia Pacific.

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The major vendors in the global processed seafood market are Middleby Corporation (US), GEA Group Aktiengesellschaft (Germany), and John Bean Technologies Corporation (US).

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