PUBLISHER: The Business Research Company | PRODUCT CODE: 1578706
PUBLISHER: The Business Research Company | PRODUCT CODE: 1578706
A freezing fishing vessel is designed with facilities to immediately freeze captured fish, preserving their quality and freshness over extended periods. This capability allows the vessel to stay at sea for longer durations without needing frequent returns to port.
The primary categories of freezing fishing vessels include commercial, artisanal, and recreational types. Commercial freezing fishing vessels are large, industrial-scale ships equipped for high-volume fish capture and processing, catering to commercial sale and distribution. These vessels employ various freezing technologies, including air blast freezing, plate freezing, brine freezing, and individual quick freezing (IQF). Their freezing capacities range from under 50 tons to over 300 tons, with vessel lengths varying from less than 20 meters to over 40 meters.
The freezing fishing vessels market research report is one of a series of new reports from The Business Research Company that provides freezing fishing vessels market statistics, including freezing fishing vessels industry global market size, regional shares, competitors with a freezing fishing vessels market share, detailed freezing fishing vessels market segments, market trends, and opportunities, and any further data you may need to thrive in the freezing fishing vessel industry. This freezing fishing vessels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The freezing fishing vessels market size has grown strongly in recent years. It will grow from $1.56 billion in 2023 to $1.65 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth observed during the historic period can be attributed to several factors such as heightened awareness of the health benefits of seafood, a rising emphasis on sustainable development, increased focus on food safety and quality, growing demand for frozen seafood, and a surge in consumer interest for value-added seafood products.
The freezing fishing vessels market size is expected to see strong growth in the next few years. It will grow to $2.10 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The projected growth during the forecast period is driven by increasing concerns over overfishing, the need to maintain catch quality, extended shelf life for seafood products, regulatory compliance, and enhanced economic efficiency. Key trends expected to shape this period include technological advancements, innovations in freezing techniques, the adoption of smart technologies, improvements in vessel efficiency and design, and broader industrial innovations.
The rising popularity of seafood is expected to drive growth in the freezing fishing vessels market. Seafood, encompassing a wide range of marine organisms consumed globally, is gaining traction due to factors such as population growth, increasing income levels, a shift towards seafood consumption, and advancements in aquaculture. Freezing fishing vessels play a crucial role in the seafood supply chain by preserving the freshness and quality of seafood, preventing spoilage, and maintaining its taste and texture. For instance, the Food and Agriculture Organization (FAO), a US-based specialized agency leading international efforts to combat hunger, reported in July 2024 that global fisheries and aquaculture production reached 223.2 million tonnes in 2022, a 4.4% increase from 2020. Additionally, global aquatic animal production is projected to rise by 10% by 2032, reaching 205 million tonnes. This growing demand for seafood is propelling the freezing fishing vessels market.
Major players in the freezing fishing vessels market are focusing on developing innovative products, such as freezer stern factory trawlers, to enhance deep-sea fishing capabilities, improve onboard processing efficiency, and meet the increasing demand for high-quality, frozen seafood. A freezer stern factory trawler is a specialized vessel designed for efficient catching, processing, and preserving fish at sea. For instance, in January 2023, Tersan Shipyard, a Turkey-based freezing company, launched the Jan Maria, a freezer stern factory trawler. The Jan Maria is equipped with integrated systems for grading, filleting, processing, and freezing, featuring a shrimp factory, an advanced fillet factory, and a fishmeal and fish oil plant. The vessel is 88.10 meters long, 18.30 meters wide, with a gross tonnage of 5,997. It is powered by a 7,000 kW Wartsila propulsion system and can accommodate up to 43 crew members.
In August 2022, Daniels Trawlers, a US-based company specializing in scallop vessels, acquired Blue Harvest Scallop Vessels for an undisclosed amount. This acquisition, which includes five double-dredge scallop vessels, aims to strengthen Daniels Trawlers' scallop fleet. Blue Harvest Scallop Vessels is a US-based company that specializes in freezing fishing vessels and seafood processing.
Major companies operating in the freezing fishing vessels market are Rolls-Royce PLC, Wartsila Oyj Abp, Green Yard Kleven AS, Ulstein Group ASA, Kongsberg Gruppen ASA, The Damen Group, Leroy Havfisk AS, Sanford Limited, Talley's Limited, Heinen & Hopman Engineering BV, Master Boat Builders Inc., Elliott Bay Design Group, Karstensens Skibsvaerft A/S, Teknotherm Inc., Aresa Shipyard Inc., MMC FIRST PROCESS AS, Astilleros Armon S.A., Nordic Wildfish AS, Integrated Marine Systems Inc., Marefsol B.V.
North America was the largest region in the freezing fishing vessels market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the freezing fishing vessels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the freezing fishing vessels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The freezing fishing vessels market consists of sales of freezer trawlers, freezer longliners, freezer seiners, factory trawlers, freezer pot vessels, freezer trollers and freezer gillnetters. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Freezing Fishing Vessels Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on freezing fishing vessels market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for freezing fishing vessels ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The freezing fishing vessels market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.