LONDON–(BUSINESS WIRE)–The global fish processing equipment market size is poised to grow by USD 181.11 million during 2020-2024, according to a new report by Technavio, progressing at a CAGR of over 4% during the forecast period.

he market is driven by the rising focus on preventing fish products from deterioration. Also, the several applications of fish processing waste as source of protein are anticipated to further boost the growth of the fish processing equipment market.

Fish are highly perishable and rots more rapidly compared to any other food item. Thus, it becomes extremely important to process and preserve the fish properly to maintain its nutritional attributes and prevent wastage.

Fish processing helps preserve fish for longer periods. Various heat treatment methods such as canning and smoking are used in fish processing.

As a result, the demand for fish processing equipment such as fish slicing equipment, skinning equipment, smoking equipment will increase significantly during the forecast period.