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New Revenue Pocket: Processed Seafood and Seafood Processing Equipment
Processed seafood market is an upcoming market and the companies are adopting new product launches as their growth strategy. Fish is considered to be a major product for processing while crustaceans types is in the second position. Surimi product type of the processed seafood is gaining popularity. Companies operating in this market such as Marine Harvest ASA (Norway), Grupo Pescanova (Spain), High Liner Foods Inc. (U.S.), Iglo Group Ltd. (Germany), and others, are expanding their business by launching new products and technologies to enhance their penetration in the processed seafood market.
The role of seafood processing equipment is of major importance when it comes to the processing of seafood. Proper equipment choice is crucial for the processing of seafood. Companies are going for the adoption of new technologies which are used for seafood processing. Traditionally, salting, drying, and other preservation processes were carried out the natural way. But with such equipment coming in the market, mechanization has led to a reduction in the labor-intensive work and has also promoted safety in the processing industry. Companies like Manitowoc Company, Inc. (U.S.), Marel (Iceland), and others, are focusing on their customer base by adopting the acquisition strategy. This has intensified the growth of the integrated value chain in the respective companies.
With the differences being observed among the seafood consumers’ and their increasing concerns regarding their health, processing of seafood is becoming a largely adopted practice. The increasing cost of raw materials is becoming a hindrance in the development of processed seafood industry. The increasing cost of labor in the labor-market proves to be a driving force for the seafood processing equipment industry, whereas the long replacement life of machinery restrain the growth of the equipment industry.
Processed Seafood & Seafood Processing Equipment Market by Types (Crustaceans, Fish, Molluscs, Others), by Product Types (Frozen, Smoked, Canned, Dried, Surimi, Others), by Equipment Types & by Geography - Global Trends & Forecasts to 2018
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