Global Fish Processing Equipment Market 2023 Growth, COVID Impact, Trends Analysis Report 2023

 A CAGR of 5.3% is expected of the global fish cutting machine market, due to the growing demand during the forecast period. It is anticipated to be appraised at US$ 500.5 Mn by 2033, up from US$ 298.6 Mn in 2023.

The primary factor that is driving the sales of fish cutting machine is the significant growth of the food and beverages industry. Consumers are essentially enticed by elements such as performance, quality, and hygiene of these machines. Moreover, various aspects such as technological advancements, improved logistics, and increased demand for processed fish products are estimated to surge a significant growth of the fish cutting machines market. The fish cutting machines provide significant throughput and offer better performance, as opposed to human labour that showcases a lot of difference in hygiene, quality, skills and performance.

This is because these machines operate while maintaining proper hygiene since it is not touched by human hands, which impact the surge in demand of the fish chunks by consumers which is expected to expand the global fish cutting machine market growth. Some of these machines can also be used to debone, or peel the fish. Furthermore, producers are encouraged to bolster their production with the help of these structured equipment owing to the blooming global demand for seafood. The fish cutting machines allow cutting of fresh or frozen fish, ideally in the form of strips or diced cubes. These chunks are then pickled and packed into cans.

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In developed regions such as North America and Europe, key players have witnessed an increase in health-conscious consumers and their changing lifestyle, that bolster the demand for fish cutting machines. This is attributed to the rise in preference for nutritive, safe, and fresh-tasting foods manufactured without the use of chemical preservatives in countries such as the U.S., Canada, Mexico, U.K, France, Italy, and Germany.

There have been several investments in automation technologies in food processing. Coupled with the easy availability of these equipment, the fish cutting machine market growth is likely to expand. Key companies aim to develop these machines so that it is able to fillet, strip cut, or cube cut, frozen fish with maximum precision and efficiency. These equipment are designed to adapt to any product and sector, offering ease of use and cleaning, safety for the operator and high performance. These machines are suitable for any product, with or without bones and have the ability to chop up all kinds of fish such as trout, mackerel, seabass, seabream, tilapia, and other similar fish species. In addition, they also serve for fresh fish products or other food products.

However, there are major constraints that may hinder the fish cutting machine market share. For instance, high prices of the equipment may decline its deployment. Moreover, some of these equipment may further require high cost of repair and maintenance. In addition, lack of knowledge regarding the use of fish cutting machines, especially in developing economies, may result in a high risk of injuries and hence, decline product demand.

Key Takeaways:

• The United Kingdom is anticipated to achieve a notable CAGR of 6.9% by 2033. This is attributed to the trend of consuming canned fish products either in the culinary world or by itself. Moreover, fish is one of the highest consumed food source in the country and is used as the main protein element in most of their signature dishes, which further drives the demand for fish cutting machine.
• In 2022, the United States maintained its position as the market leader, with a revenue share that was greater than 4.9%. The vital elements that are contributing to the expansion of the market in this region are, the presence of several key players, proliferation of health-conscious consumers, and the demand for seafood in the country.
• Owing to efficiency, as well as the choice to make arrangements according to the end user’s requirement, the manual mechanism type held the greatest revenue in 2023, accounting for more than 4.6% of total revenue. These machines, compared to the automatic mechanism type, can be easily manoeuvred and handled.
• As a result of high demand and influx of food orders and deliveries, the “food service sector” end user type accounted for more than 5% in 2023. This is attributed to the large number of restaurants, cafés, bistros, etc. that receive heavy influx of orders daily and require thorough cleaning, due to hygiene and inspections.

Competitive Landscape:

The fish cutting machine market share is fragmented, owing to the presence of several players. Both developed and emerging markets are increasing the demand for these fish processing units. Furthermore, top manufacturers in the global food and beverages industry are dedicating a division towards the production of the fish cutting machines. For instance, in December 2019, three Memorandum of understandings (MoU) were signed between the Indian and Maldives governments for establishing Neighbourhood Fish Processing Plants in Addu City. The development of these new fish processing plants is the first in a series of High Impact Community Development (HICDP) projects that India and Maldives have agreed to jointly develop. Such aspects are estimated to expand the global fish cutting machine market size. The following companies are key leaders in the global market for fish cutting machines.