(Food-Beverage-News.Com, September 07, 2017 ) The Europe Fish Processing Market was worth USD 56.8 billion in 2016 and estimated to be growing at a CAGR of 3.9%, to reach USD 68.77 billion by 2021. The market is estimated to show evident potential in the mentioned forecasting period. It continues to gain momentum with the ever increasing demand for fish consumption.
Fish Processing is the process which starts with the catching of fishes and ends at final shipping to customers. It includes entire species of aquatic organisms, irrespective of the place they are obtained from. Fish is a very perishable food and hence needs to be stored and preserved properly for protection against decaying. Some of the popular fish processes used for fish preservation are surimi, curing, salting, drying, and smoking.
The major driving factors for the market of Europe Fish Processing are presence of sufficient facilities like boats, advanced equipment and others which are estimated to propel the market in future. Apart from this, the increased consumption of fish owing to its high nutritional value as well as increasing demand for different types of seafood is responsible for the growth of market in this region. However, the growing popularity of vegetarian and vegan lifestyles could pose as a major threat for the growth of this market.
The Europe Fish Processing Market is segmented on the basis of Fish Processing Category into Frozen, Preserved and others. On the basis of Application the market is segmented as Food and Non-Food. The food segment leads the market under the segmentation on the basis of application due to increased inclusion of fish in people’s diets. Based on Source the market is categorized as Marine and Inland. The fish harvested from marine sources lead the market due to the development of new techniques for fishing. On the basis of Species the market is segmented as Fish, Crustaceans, Mollusks and Others. On the basis of Equipment the market is segmented as Slaughtering, Gutting, Scaling, Filleting, Deboning, Skinning, Smoking and Others.
On the basis of geography, the market is analysed under various regions namely Germany, Spain, U.K, Denmark and Netherlands. Portugal has the highest demand for fish in the Europe Fish Processing Market especially for oysters, cods and clams. Few European countries like Spain, Denmark and Poland have Fishery as their major occupation and highly contribute to the GDP of the countries. They export large quantities of fish to other continents.
Some of the major companies dominating the market, by their products and services are Marine Harvest ASA (Norway), Pescanova S.A. (Spain), Royal Greenland A/S (Denmark), Leroy Seafood Group ASA (Norway), and Norway Pelagic ASA (Norway).
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