Companies enjoying major market for processed seafood are Thai Union Frozen Products (Thailand), Marine Harvest ASA (Norway), Grupo Pescanova (Spain) & for seafood processing equipment are Marel (Iceland), GEA (Germany), Manitowoc Company, Inc. (U.S.)
(PRWEB) October 24, 2014
The report “Processed Seafood & Seafood Processing Equipment Market by Types (Crustaceans, Fish, Molluscs, Others), by Product Types (Frozen, Smoked, Canned, Dried, Surimi, Others), by Equipment Types & by Geography - Global Trends & Forecasts to 2018”, defines and segments the processed seafood and seafood processing equipment market with analysis of current demand and forecasted consumption in terms of revenue.
The market of processed seafood is estimated to reach $211,210.7 million by 2018, with a projected CAGR of 4.1% from 2013 to 2018. On the other hand, the seafood processing equipment market is expected to grow at a CAGR of 3.8% from 2013 to 2018 to reach $1,469.5 million by 2018.
Browse more than 102 market data tables with 29 figures spread through 260 pages and in-depth TOC on "Processed Seafood & Seafood Processing Equipment Market - Global Trends & Forecasts to 2018".
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Seafood processing forms a very essential part of the food processing industry. Various technologies are involved in the processing of the seafood. The market of processed seafood is fueled by new product launches and also by consumers’ changing lifestyle trends and increasing concerns about their health. The companies are launching new products and expanding with a key objective to penetrate better into the untapped market and geographies. The retail industry of the developing countries like the regions of Asia-Pacific, are moving towards development stage. Hence, this also gears up the availability of the processed seafood products to various new markets.
The seafood processing equipment plays a vital role in the processing of seafood. Technical advancements and innovations are continuously happening in the processing sector. These improvements in this direction have enabled the preparation of processed seafood and fish in a more efficient and a better way. The processing activity consists of various different processes like gutting, scaling, skinning, and others. To be fully assured about the safety issues in carrying out these processes, proper equipment is required.
North America is a developed market for seafood processing equipment. Europe has emerged as a developing market, whereas the fastest growing market is Asia-Pacific.
Companies like High Liner Foods Inc. (U.S.), Marine Harvest ASA (Norway), and others, are strengthening their product portfolio by launching new products that vary from their existing products, and are more improved in taste and quality. By adopting this strategy, the companies are competing with each other and are increasing their revenue with the launch of novel products that become widely accepted by the seafood consumers.
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Through the growth strategies like acquisitions and expansions, the companies are expanding worldwide. The ones operating in this market, namely GEA (Germany), Marel (Iceland), and others, are into business expansion by going for various acquisitions that may enhance their penetration in the seafood processing equipment market.
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