Fishery Machinery Manufacturing Market Forecasts to 2028 – Global Analysis By Product Type (Head Cutting Machines, Skinning Machines, and Other Product Types), Application (Aquaculture, Agriculture and Other Applications), End User and By Geography
According to Stratistics MRC, the Global Fishery Machinery Manufacturing Market is accounted for $13507.54 million in 2022 and is expected to reach $19488.39 million by 2028 growing at a CAGR of 6.3% during the forecast period. Fishery machinery is the machines used in various stages of the fishing process. Fishery machinery has facilitated the process of raising or harvesting fishes. The equipments used for these purposes have eased the process from time to time serving the livelihood of many people in the world. The fishing equipment market is viewing a healthy growth with the changing food habits as well as growing concerns of the health benefits of consuming fish. Fishes are high quality, low fat, and protein rich in omega 3 fatty acids and vitamin D and B2 riboflavin which are healthy for heart and brain, and helps in lowering blood pressure.
Increasing awareness concerning the health benefits
Fish is one of the most beneficial protein sources for diet. It's filled with essential nutrients, like omega-3 fatty acids, and is a great source of protein to keep your body lean and your muscles strong. Moreover, it lowers the risk of heart disease as well as improves the eye vision and eye health and many more. In Additionally, fishing is now recognised as a premier sport, it has become increasingly popular as leisure, business and sports activity. Thus, the fishery machinery equipments have growing demand.
Modern fishing equipment changes the ocean environment, unsettling the sea floor, varying food webs, and displacing several vital ecological processes. Moreover, discarded and lost fishing gear or equipment is lethal to marine life because it constitutes the widely held of massive plastic pollution in seas, rivers, and ponds. In addition, this misplaced or forgotten fishing equipment is more harmful because it can entangle several creatures. Besides, the use of mechanical, technical improvements, such as using drones for fishing, reduces the amount of waste in the waters. Consequently, the negative impact of modern fishing equipment on the marine environment inhibits the market expansion of fishing equipment.
Increasing sports fishing
Sports’ fishing is popular all over the world and takes place in most aquatic habitats. The sport originated out of recreational fishing. It is fishing for leisure, exercise or competition this involves equipment such as rods, lines, hooks, reels and artificial flies. The fishery machinery market is characterised by brand loyalty. High quality fish tackles are gaining popularity, with users using specific brands. Special taxes collected on fishing tackles and motorboat fuel are supplementing fish recreational programs and fishery conservation. Various government initiatives and the increased disposable incomes of users are also driving forces for the fishery manufacturing market.
Endangered species by the broken fishing lines and equipments
Fishing line that breaks and is lost in the ocean can entangle birds, fish, and mammals. Some fishing poles catch extra animals, or by catch, like turtles instead of fish. Boats that drag many fishing lines through the water catch more fish and extra animals than their fair share and don't leave enough to reproduce. Moreover they nets that get separated from the boats will continue fishing on their own killing fishes for months and years, whereas the traps that are used kills the unwanted animals and some of the plastic machinery gets into the ocean bed and causes pollution.
COVID-19 put an instant stop to many business activities across the globe, as several countries had shut down their ports, airports and domestic transportation while imposing nation-wide lockdowns, leading to a disturbance in business. The lockdown in India impacted fishery machinery manufacturing activities across the globe. The extent of the lockdown affected fishery equipment manufacturing activities and supply chains alike, disrupting the overall economy. However, it has also created positive effect on some sectors of fishing because of the concept of immunity boosting to survive through the pandemic by adding high protein foods like fish.
The head cutting machines segment is expected to be the largest during the forecast period
The head cutting machines segment is estimated to have a lucrative growth, due to its accurate and efficient working removing the head, either the tail. These fish head cutting machines make a straight, oblique cutting in the fish to ensure good yield, and reduces the cost of processing because it does not required to be manually done by a person, they are also available in many designs to accommodate various fish species and are driving forces for the fishery market.
The Aquaculture segment is expected to have the highest CAGR during the forecast period
The Aquaculture segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the increase in the prevalence of the nutritional values that are provided by the various sea foods and fishes. Aquaculture is breeding, raising, and harvesting fish, shellfish, and aquatic plants. In aquaculture various fishery equipments are used, either to cat fish or harvest them as well, hence aquaculture segment is expected to have the highest CAGR during the forecast period.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the raising concerns regarding the health benefits that the fish provide, china has the largest fishery producers all over the world, many consumers are growing health conscious and are ready to take the food that have various health benefits, as of fish market, fish is filled omega-3 fatty acids and vitamins such as D and B2 (riboflavin). Fish is rich in calcium and phosphorus and a great source of minerals, such as iron, zinc, iodine, magnesium, and potassium. Omega-3 fatty acids, which are crucial for optimal body and brain function and strongly linked to a reduced risk of many diseases is in abundance in fish which enhances the market growth during the forecast period.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to increase in engaging of consumers in fishing as a means to relieve stress, bond with nature, and socialise with new people with similar interests. In addition, seafood is an essential dietary element worldwide with many benefits and is a much-admired source of protein and healthy fats. Hence, fishing is carried out in different ways, such as cast-net fishing, spear fishing, and fly fishing, which require various tools and equipments to accomplish hence in turn helps in the growth of the market.
Key players in the market
Some of the key players profiled in the Fishery Machinery Manufacturing Market include Berkley Fishing, Aarcom International, Bucks Bag, Bass Pro Shops, AFTCO, KM Fish Machinery A / S, Aquaculture System Technologies, LLC, Aquafarm Equipment AS.
In October, 2022 Bass Pro Shops announces new Valhalla Island oceanfront resort, to become the largest in the Florida Keys, the company presented plans for the oceanfront Valhalla Island Resort development before an audience that included Florida Gov. Ron DeSantis and key leaders of the Florida Keys recreational fishing and conservation communities.
In May, 2021 Intech acquires KM Fish Machinery, with the acquisition, they strengthen Intech’s position in the market even further, and the company can offer several different solutions for both vessels and land based factories. This company definitely expect growth within existing as well as new segments. KM Fish Machinery has products that can be included into their projects immediately and with great advantages.
In July, 2017 Berkley® introduces its latest innovation the Berkley Snap Jig. This new product is the perfect addition to anglers’ tackle boxes. The lifelike action and intricate design are just two reasons fishing enthusiasts of all levels will love the Snap Jig, The Snap Jig can be fished both vertically over structure and for suspended fish in open water and ice, or cast and retrieve for side to side and backward and forward dynamic darting action. Another benefit is that the Snap Jig naturally falls on the glide and is versatile in action.
Products Types Covered:
• Head Cutting Machines
• Skinning Machines
• Aquatic Products Processing Machinery
• Breeding Machinery
• Elevators & Hoppers
• Filleting Machines
• Other Product Types
• Water Treatment
• Other Applications
End Users Covered:
• Other End Users
• North America
Rest of Europe
• Asia Pacific
Rest of Asia Pacific
• South America
Rest of South America
• Middle East & Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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