Middle-East and Africa Fish Processing Market is poised to reach USD 21.54 billi
Posted by MDFtrends on September 26th, 2017
The Middle East and Africa Fish Processing Market was worth USD 18.32 billion in 2016 and estimated to be growing at a CAGR of 3.3% to reach USD 21.54 billion by 2021. The market is expected to grow at a decent rate in the mentioned forecasting period and 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.
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The major driving factors for the market of Middle-East and Africa Fish Processing are the growth of population and increase in the spending on food. Also, the rising demand for the variety of seafood is a factor which is estimated to propel the market in future. However, the recently developing trend of vegetarian and vegan diets could pose as a major threat for the growth of this market.
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 Middle-East and Africa Fish Processing market is analysed under the regions Middle-East and Africa. The growth of fishery as an occupation in this region has been accelerated since the past few years and this has led to the development of fish processing industry. The market in this region has a bright future in the years to come.
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