The size of the Europe fish processing market is expected to be worth USD 63.33 billion in 2024 and grow at a CAGR of 3% from 2024 to 2029 to achieve USD 73.43 billion by 2029.
Fish processing helps keep fish fresh for long periods with minimal loss of odor, flavor, and nutritional value. The process begins with catching the fish and continues until the finished product reaches the consumer. The processing of the fish is mainly followed to protect it against spoilage. Fish is a highly perishable food, so it needs proper preservation methods to extend its shelf life and maintain nutritional quality. Dried fish like shrimp, dried fish, dried octopus, and dried oysters are gaining popularity. Furthermore, well-known fish processes used to preserve fish include curing, drying, repairing, salting, and smoking. Increasing demand for fish and other seafood and increased investment in food processing automation technologies are expected to accelerate the Europe Fish Processing market growth in the near future.
Growing health problems and the aquaculture industry are contributing to the growth of the Europe Fish Processing market, which is mainly driven by the health benefits. The introduction of modern technology and the motorization of fishing boats are expected to revitalize the Europe Fish Processing market in the near future. In addition, government support and technological advances in fishing activities also promote the European Fish Processing market. The aquatic product processing industry is accessible to seafood producers, allowing you to manage quality, end product, and hygiene. The increase in fish feed is also an important factor in the growth of the Europe Fish Processing market. The main drivers of the industry are the continuous increase in demand for seafood, changes in consumer eating habits and the demand for seafood with differentiated added value. Development and distribution channels with improved fish packaging, processing and storage technologies have also been identified as driving market growth. Various government initiatives to support the aquaculture industry are another factor expected to drive the Europe Fish Processing market growth. Increased consumption of seafood globally, as awareness of the health benefits and nutritional value associated with seafood increases, is a major factor supposed to drive market growth during the foreseen period. The increasing demand for fish oil in various industries and sectors is another factor that is estimated to drive the growth of the Europe Fish Processing market during the predicted period.
Increasing awareness of health benefits of fish is a major factor driving the Europe Fish Processing market. Eating fish has been linked to health benefits like lowering blood pressure, triglycerides, macular degeneration, inflammation, and reducing the risk of heart disease and stroke. It also provides a low source of omega-3 fatty acids, proteins, and minerals. Therefore, this is a great advantage to boost the seafood processing market in the future. The main market drivers for this industry are the high nutritional value of fish, the growth of the aquaculture industry, and increased awareness of public health. Growing markets in several emerging countries are expected to benefit seafood producers in the coming years. Furthermore, the increased automation combined with the easy availability of processing equipment is a major factor responsible for the expansion of the Europe Fish Processing market. The growing demand for seafood encourages producers to increase manufacturing with efficient processes to maintain production costs. This is also anticipated to lead to technological advancements in fish processing equipment, creating profitable opportunities in the coming years.
Rising raw material prices and strict government regulations on fish trade are key factors expected to slow the growth of the Europe Fish Processing market during the foreseen period. In addition, the cluster provides the largest source of raw materials for the production of fishmeal and fish oil. In addition, the composition and quality of raw materials are the main factors that determine the properties and performance of the product. Many countries in Europe still lack knowledge of technological developments and advances in the processed food industry due to lack of information availability. As the consumption of processed fish of certain species of fish increases, their presence is decreasing, leading to an increase in market prices and a decrease in the Europe Fish Processing market growth.
The frozen segment is likely to grow at the highest CAGR during the forecast period with the largest market share, and the other segments are driven by the popularity of processed seafood among middle aged and young due to the convenience and the ready to cook features.
The demand for processed fish is increasing due to a variety of factors, such as a diverse portfolio of fishery products offered by fish processors and manufacturers, and changes in the eating habits of the population that include fishery products as part of their dailydiet.
The marine sector dominates the market due to the increasing ocean catch rates of inshore and deep-sea fish used for processing in most European countries.
The fish segment, made up mainly of white fish, tuna and salmon, dominates the market by species. Drivers of market growth include the low-fat and high-quality protein content these fish provide and the ease of use for food applications.
The slaughtering equipment dominated the market because they are corrosion-free and can use different types of cuts designed for a wide variety of fish.
Europe is the dominant region in the Fish Processing market. They are equipped with a wealth of facilities, such as ships and advanced machinery, which are expected to revitalize the local market in the future. In European countries, cold rolled and hot smoked fish preservation methods are widely used. Portugal is the fastest growing region in European countries where the demand for cauldrons, clams, sardines, oysters and cod is increasing. Some European countries, such as Portugal, Spain, Poland and Denmark, make fishing their main occupation, which contributes significantly to GDP growth. They lead exports to countries in North America and Europe.
Major Key Players in the Europe fish processing market are Leroy, Pelagia AS, Maruha Nichiro Corporation, Pescanova USA, Royal Greenland A / S, Thai Union Group Public Company Limited, High Liner Foods, NISSUI, Channel Fish Processing Company Inc, Charoen Pokphand Foods PCL, and Marine Harvest ASA
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region