The global fish cutting machine market is projected to have a moderate-paced CAGR of 5.3% during the forecast period. The current valuation of the fish cutting machine market is USD 298.6 million in 2023. The value of the fish cutting machine market is anticipated to reach a high of USD 500.5 million by the year 2033. A historical CAGR of 4.2% has been recorded by the experts of Future Market Insights for the market concerned.
| Attribute | Details |
|---|---|
| Market Value (2023) | USD 298.6 million |
| Market Value (2033) | USD 500.5 million |
| CAGR | 5.3% |
This growth in the sales of fish cutting machines is supported by the following:
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Developing economies, such as India and Indonesia, are increasing their fish output, which is a major factor propelling the fish cutting machine market. Rising urbanization and personal income have both contributed to greater demand for fresh fish, which is in high demand due to its high protein content.
In addition, the fish cutting machine market expansion is anticipated to be boosted throughout the forecast period by the rising demand for premium-grade food products due to the freshness and diversity of the products.
However, in recent years, foreign trade has become increasingly important due to increased government assistance and improved transport infrastructure. To guarantee the traceability and quality control of their exports, the Marine Products Export Development Authority (MPEDA) in India has begun work on a GPS-based database of aquaculture farms with an eye toward export.
In May of 2020, the Indian government authorized the Pradhan Mantri Matsya Sampada Yojana (PMMSY) as part of the Aatmanirbhar Bharat COVID-19 Relief Programme, with the goal of developing the fisheries sector in a sustainable and responsible manner.
In the same vein, Indonesia has its PROTEKAN (Program to Increase Fisheries Exports) initiative, which also seeks to boost cutting equipment exports. As a result, more fish is likely to be farmed with an eye toward export, which is likely to lead to a rise in both cutting equipment production and consumption.
The tremendous opportunity for international trade is what really moves the Indian fish market. About 6 percent of global output is sold in this market. There is little doubt that the country is currently one of the world's leading seafood suppliers. The Indian fish market has been bolstered by the rapid expansion of both domestic consumption and fish exports in recent years. A rise in recent years has also been seen in the quantity of fish eaten per person.
Many reasons are currently pushing up demand for fish cutting machines in India. Some of these factors are the general trend toward a healthier diet, the ever-increasing price of meat, and the growing recognition that fish is a good source of digestible protein, cholesterol-lowering capabilities, and polyunsaturated fatty acids (PUFA).
Fish's positive effects on human health are increasingly being recognized.
As more people learn about the benefits of fresh fish for their health, such as reducing the risk of chronic diseases and regulating hormone levels, the fish cutting machine market is predicted to show development prospects throughout the forecasted period.
Since many people are looking to cut back on calories, diets high in protein are becoming increasingly popular, driving up demand in the market. As a low-fat protein source crucial for muscle growth, as well as a source of iron and vitamins like omega-3 fatty acids, fish food has been a driving force in the fish cutting machine industry's growth.
Market expansion is being driven by rising demand in both developed and developing economies.
In both developed and emerging countries, demand, and consumption of fresh fish products are on the rise, which is expected to drive the fish cutting machine industry. The FAO found that the global rise in fish eaten for sustenance has far outpaced the rise in the world's population. Rising industrial cutting equipment output in emerging economies like India and Indonesia is the main factor propelling the market forward.
Rising urbanization and personal income have led to an increase in the demand for protein-rich fish meals, which in turn has led to a surge in the fresh fish market. Market growth in the next years is also expected to be fuelled by the wide range of products available and the rising demand for high-quality meals.
Boosted government investment in fishing has led to a rise in exports, which is fuelling the market.
The rising global output of fish products, enhancements to the cold chain, transportation, and distribution channels, and subsequent increases in demand have all contributed to the current state of the fish product market.
Recent years, however, have seen an uptick in the significance of international trade as a result of improved transit infrastructure and expanding government support, and increasing the growth in fish cutting machine market share.
Principal Consultant
United States:
| Market Value (2033) | USD 125.1 million |
|---|---|
| CAGR (%) | 5.7 |
Canned, frozen, and chilled fish are some of the most popular forms of processed fish consumed in the USA significant growth in the global fish cutting machine market can be attributed to several factors, including rising consumer awareness of the health benefits of seafood, rising demand for organic fish products, many restaurants and cafes, deeper market penetration by packaged food and top food processing companies, and rising demand for convenience food products.
Europe:
The European fish cutting machine market is growing rapidly because of the region's expanding consciousness of the health benefits and rising appeal because of sustainability. In addition, the growing awareness of the link between poor diet and accelerated aging of the skin and bones, as well as the epidemic of cardiovascular disease, is driving up the demand for industrial cutting equipment across Europe.
In addition, the market expansion is anticipated to be boosted throughout the forecast period by the rising demand for premium-grade fish products due to freshness, diversity of the goods, and convenience for food safety.
Japan:
| Market Value (2033) | USD 31.5 million |
|---|---|
| CAGR (%) | 5.5 |
Now, Japan is one of the world's largest marketplaces for fish. The country currently has the second-highest per capita seafood intake in the world. The growing interest in eating more nutritiously is a key aspect of Japan's fish cutting machine market.
Because of Japan's rapidly aging population, demand is expected to rise for fish cutting machines and fish products that provide health benefits such as reduced cholesterol levels, increased micronutrient intake, and increased intake of vital fatty acids. The expanding number of single-person homes and women in the workforce is also contributing to the growth of the country's fish cutting machine market.
The market is predicted to develop as a result of several factors, including the increasing popularity of ready-to-eat meals, semi-processed items, and seafood products that require minimal preparation time, as well as shifts in consumer preferences and spending on healthcare.
Korea:
| Market Value (2033) | USD 12.5 million |
|---|---|
| CAGR (%) | 3.7 |
Due to domestic and regional limits on local production, South Korea is increasingly reliant on imports to meet its fish and seafood demands. Strong market growth is being seen for imported items that offer value, quality, nutritional benefits, novel flavors, and convenience.
With an increase of 28% over 2015, South Korea spent USD 5.7 billion importing fish and shellfish in 2019. Even though over a hundred other countries provided fish and seafood for Korea's imports, the countries of China, Russia, Vietnam, and Norway accounted for most of the country's supply. These four countries accounted for a whopping 78.1% of the republic's total export market share. This is also impacting the fish cutting machine market outlook.
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New Entrants to Foster Innovation in the Global Market
The startups in the fish cutting machine market are adding a new edge to the properties of excavators by curating innovations beyond the imagination. They are continually upgrading the fish cutting machine with advanced technology and curating innovative types of bags that are gaining consumer attention, like bright and vibrant colors and greater accessibility. Start-up firms are triggering the expansion of the fish cutting machine market with their unique attempts.
In order to boost profits and solidify their foothold in the fish cutting machine market, major players in the industry have turned to mergers and acquisitions, as well as strategic partnerships.
2 Iconic Companies Having Major Dominance
| RZPO | Manufacture of Food-Related Processing Machinery (RZPO). The company has 2 factories to make a variety of process equipment, including smoke and defrost climatic and thermal cameras, injectors, hygiene stations, shrink tanks, and more. An extensive assortment of non-standard food processing machinery. The created equipment is of the same caliber as the best in the world. In addition, they provide the highest quality imported processing machinery for a wide variety of foods, including fish, meat, cheese, and vegetables. This includes filleting machines, slicers for slicing, skinning machines, industrial cutting equipment, skinning machine, washing machines for fish or containers, conveyors for industrial cutting equipment, injectors, refrigerated containers, and much more. They have a division devoted to designing and installing industrial refrigeration systems for use in the cooling and climate control of factories and warehouses and can provide estimates for any size of the refrigeration system in Bitzer, Frascold. |
|---|---|
| Mainali | Mainali has been making equipment for the food sector for over 20 years. The company specializes in the production of cutting and pressing machines for a wide variety of products. The company has become an industry standard by pioneering cutting-edge machinery and leading the way in the development of durable technology. The organization has been able to expand internationally because of its history and past successes. |
The growth outlook for the fish cutting machine market is predicted to advance at a CAGR of 5.3% from 2023 to 2033.
The North American region is anticipated to lead the fish cutting machine market during the forecast period.
The market valuation of the fish cutting machine market stands at USD 298.6 Million in 2023.
The fish cutting machine market is likely to hold a valuation of USD 500.5 Million by 2033.
The hospitality sector is the key driver in the fish cutting machine market.
1. Market - Executive Summary 2. Market Overview 3. Market Background and Foundation Data 4. Global Demand (Units) Analysis and Forecast 5. Global Market - Pricing Analysis 6. Global Market Value (USD million) Analysis and Forecast 7. Global Market Analysis and Forecast, By Mechanism / Technology 7.1. Manual 7.2. Automatic 7.2.1. Semi-automatic 7.2.2. Fully-automatic 8. Global Market Analysis and Forecast, By Capacity (Kg/h) 8.1. <50 8.2. 50-150 8.3. 150-300 8.4. >300 9. Global Market Analysis and Forecast, By Fish Type 9.1. Frozen Fish 9.1.1. Boneless 9.1.2. Boney 9.2. Fresh Fish 10. Global Market Analysis and Forecast, By End User 10.1. Food Service Sector 10.2. Food Processors 11. Global Market Analysis and Forecast, By Sales Channel 11.1. Offline 11.2. Online 12. Global Market Analysis and Forecast, By Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. East Asia 12.5. South Asia & Oceania 12.6. Middle East & Africa 13. North America Market Analysis and Forecast 14. Latin America Market Analysis and Forecast 15. Europe Market Analysis and Forecast 16. East Asia Market Analysis and Forecast 17. South Asia & Oceania Market Analysis and Forecast 18. Middle East & Africa Market Analysis and Forecast 19. Country-level Market Analysis and Forecast 20. Market Structure Analysis 21. Competition Analysis 21.1. Bharani Engineering 21.2. Deccan Automation Technology 21.3. Mainali 21.4. Ngyustry International Co. Ltd. 21.5. Orion Professional Appliances 21.6. RZPO 21.7. Yes Square Marketing 21.8. Zhengzhou Taizy Machinery Co., LTD. 22. Assumptions & Acronyms Used 23. Research Methodology
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Fish Cutting Machine Market
