Fish Counters Market Size, Share, Growth, And Industry Analysis By Type (Resistive Counter, Optical Counter, Hydroacoustic counter) By Application (Pond, Fish Receiving Tank, Others) Regional Forecast to 2031

Updated On: 13 November 2023

Fish Counters Market Report Overview

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The global Fish Counters market size expanded rapidly in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the Fish Counters market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to generate substantial revenue by 2031, a robust CAGR during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Fish and seafood stores provide products including tuna, salmon, lobster, and shrimp that are fresh, frozen, or cured. Many brick-and-mortar establishments, such as independent markets, delicatessens, fishmongers, and butcher shops, sell goods. Online sales of fish goods are also not included in this category, nor are fish markets and counters operating inside of supermarkets.

By 2050, the population of the globe is projected to increase to 10 billion. The need for food increases as the population grows. The OECD and FAO's "The Agricultural Outlook" predicts that by 2027, cereal output will have increased worldwide by 13%. To accommodate the growing population, crop production, farming endeavours, and trade volumes will need to rise. Because of the expanding population over the projected period, businesses in this market are anticipated to profit from the rising demand for food and beverage items, including the seafood production industry.

COVID-19 Impact: COVID-19 Lockdown Adversely Affected The Market Growth

The COVID-19 disease outbreak has had a significant negative impact on the seafood manufacturing business in 2020, as supply chains have been disrupted by trade restrictions and consumption has decreased as a result of lockdowns enforced by governments throughout the world. A viral illness called COVID-19 causes flu-like symptoms like fever, coughing, and breathing difficulties. The virus was initially discovered in Wuhan, in the People's Republic of China's Hubei region, in 2019, and it has since spread to Western Europe, North America, and Asia. The availability of raw materials from domestic and foreign vendors is a need for food and beverage producers. Manufacturers were forced to suspend production owing to a shortage of raw materials as several governments imposed restrictions on international and domestic trade in commodities. The drop was also influenced by trade restrictions on non-essential items and concerns about contamination coming from industrial sites. Businesses suffered because of the epidemic in 2020 and into 2021. Since it is a "black swan" incident and unrelated to enduring or fundamental problems in the industry or the global economy, it is anticipated that the seafood manufacturing market would recover from the shock throughout the projection period.

Latest Trends

"Fish Production Will Be Fueled By Aquaculture Geared Towards Export"

More and more people throughout the world are turning to fish as their main source of protein, livelihood, foreign exchange, and wellbeing. The aquaculture industry has grown substantially in recent years. The Food and Agricultural Organization (FAO) reports that the worldwide fish consumption has grown at a rate that is noticeably higher than the rate of population growth.

The production of fish of the highest grade is closely related to the expanding demand for fish on the export market. Governments and a number of industry participants are launching a number of measures to expand the fish export market. For instance, Indonesia's PROTEKAN programme, which stands for Program to Increase Fisheries Exports, attempts to increase fisheries exports. Thus, boosting fish output for export will probably lead to additional increases in world fish consumption and production.

Fish Counters Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Resistive Counter, Optical Counter, and Hydro acoustic counter. Resistive Counter is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Pond, Fish Receiving Tank, Others. Pond will be the dominating segment.

Driving Factors

"Growing Preference For Protein-Rich Diets Fuel The Market Growth"

The industry's demand is increasing due to the growing preference for protein-rich diets over high-calorie foods. Fish food includes a low-fat source of protein that is utilised to develop muscle, as well as vitamins, iron, and omega-3 fatty acids. These factors contribute to the market's rapid expansion.

In recent years, the importance of international commerce has grown as a result of improved transportation infrastructure and more government assistance. For instance, the Marine Products Export Development Authority (MPEDA) in India has started a project to create a database of aquaculture farms focused on export to assure their traceability and quality control.

Exclusive eateries that provide fish-based exotic seafood as well as shifting consumer tastes are other aspects influencing the fish market's expansion.

Another element affecting market revenue is the growing number of hotels, cafés, restaurants, and cloud kitchens that use frozen meals to produce inventive recipes with freshly preserved products and save cooking time. Throughout the anticipated period, the market for frozen food is anticipated to be stimulated by the growth of various e-commerce retail channels that provide a wide selection of items and the increasing trend of ordering meals online due to the greater penetration of smartphones and high-speed internet. Together, frozen potatoes and meat & poultry account for more than 55% of the market. Because to its simplicity of use, the freezer to microwave meal pack is anticipated to be in great demand. The popularity of veganism is boosting the market for frozen meals that are whole, natural, and unprocessed. To meet the rising demand for frozen plant-based foods, mainstream food producers are adopting more sustainable ingredients.

"Rising Demand For Ready To Eat Food Products Will Fuel The Market"

The primary growth driver is the growing customer desire for ready-to-eat food products that need the least amount of preparation and cooking time. The demand for frozen food has increased as a result of the rise in women's employment rates throughout the world since it is more difficult to prepare fresh meals in a short amount of time. The demand for frozen food items has increased due to the tendency towards convenience meals as well as changes in lifestyle that affect dietary patterns and purchasing habits.

Restraining Factors 

The misconception about frozen food serves as a disadvantage, limiting customers' desire to spend money on these goods. The penchant for natural and fresh food is further complicating things. Both the salt and starch contents are observed to be more prevalent, which might have negative impacts that could hurt the market.

Fish Counters Market Regional Insights

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"Asia Pacific Held The Greatest Market Share "

In 2020, Asia Pacific held the greatest market share of more than 60.0%. The expansion of the regional market is anticipated to be accelerated by the growing demand for foods high in protein and the increased public awareness of the health advantages of ingesting fish and seafood products. Also boosting the growth of the regional market will be the increased consumption of fish and seafood products in emerging nations like China, India, and Indonesia due to consumers' preference for a healthy lifestyle, shifting dietary patterns, and rising disposable income.

From 2021 to 2031, Europe is anticipated to see the quickest CAGR of 4.1%. Throughout the projection period, the market expansion in this area would be boosted by the rising demand for premium grade seafood products and the growing awareness of the health advantages of seafood. The market for fish products in this region is also being driven by rising health concerns regarding premature skin ageing, bone health, and the high prevalence of cardiovascular diseases (CVDs).

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Calitri Technology (Belgium)
• Aquascan (Norway)
• Vaki (U.S.)
• Rapala (Finland)
• Faivre (France)
• Acuinuga (Spain)
• Browning Fishing (Utah)
• Knuro (Norway)
• YongaTek (Turkey)
• Aquantic (Switzerland)
• Flatsetsund Engineering AS
• Fu-Chen Auto Technology Corporation  (Taiwan)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.