The Fish Processing Market Industry is driven by growing seafood consumption
The fish processing industry entails processes such as cleaning, sorting, cutting, de-scaling, filleting, freezing, canning and packaging of fish and seafood products for distribution and sale. The industry handles a variety of seafood including finfish, shellfish and crustaceans. Fish processing offers benefits such as prolonged shelf life, portion control, ease of preparation and consumption. It helps meet the increasing global demand for seafood products. The growing consumption of seafood is driven by factors like nutritional value, varied culinary uses and rising health consciousness among consumers.
The global fish processing market is estimated to be valued at USD 391.1 Bn in 2024 and is expected to reach USD 690.3 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.
Major Fish Processing Market companies are expanding globally to cater to rising international demand, acquire local brands and resources, and benefit from trade agreements. They establish processing plants in strategic locations for sourcing, value addition and exports. The industry is consolidating with large multinationals acquiring regional players to achieve economies of scale.
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