Seafood Manufacturing Market Characteristics
The seafood manufacturing market consists of sales of seafood by entities (organizations, sole traders and partnerships) that can seafood, smoke, salt and dry seafood, eviscerate fresh fish, shuck and pack fresh shellfish, process marine fats and oils and/or freeze seafood. Establishments known as floating factory ships that gather and process seafood into canned seafood products are also included in this industry. The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments.
Competitive Landscape of the Seafood Manufacturing Market
Major players in the global seafood manufacturing market include Grupo Pescanova, Marine Harvest ASA, Thai Union Frozen Products, Royal Greenland, and John Westfoods.
Seafood Manufacturing Market Size
The seafood manufacturing market size is expected to significantly grow during the forecast period. The growth in the seafood manufacturing market is due to increasing disposable income and rising global population.
However, the market for seafood manufacturing is expected to face certain restraints from several factors such as depletion of wild fish stocks.
Seafood Manufacturing Market Segmentation
The global seafood manufacturing market is further segmented based on type and geography.
By Type - The seafood manufacturing market is segmented into crustaceans, fish, others - seafood.
By Geography - The global seafood manufacturing is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-pacific seafood manufacturing market accounts the largest share in the global seafood manufacturing market.
Trends in the Seafood Manufacturing Market
Fish processing establishments are using high pressure processing (HPP) technology to improve operational efficiency. HPP is a non-thermal technology in which the fish is submerged in a liquid placed in a pressure vessel and uses pressures of about 6000 times the average air pressure at sea level to pasteurize fish meat, as the major trends witnessed in the global seafood manufacturing market.
Potential Opportunities in the Seafood Manufacturing Market
With busy lifestyle, influence of social media on the market, impact of new cuisines on the market, low cost foods, the scope and potential for the global seafood manufacturing market is expected to significantly rise in the forecast period.