Freezing Fishing Vessels Market Forecast 2024: Technological Innovations and Market Growth

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The new report published by The Business Research Company, titled Freezing Fishing Vessels Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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What Is Driving The Growth Of The Global Freezing Fishing Vessels Market?

Freezing Fishing Vessels Poised To Meet Surging Global Seafood Demand
The rise in the popularity of seafood is expected to propel the growth of the freezing fishing vessels market going forward. Seafood refers to any sea life regarded as food by humans. It includes a broad category of marine organisms consumed around the world. The increasing popularity of seafood is due to several factors, such as population and income growth, a shift toward seafood consumption, and aquaculture growth. Freezing fishing vessels are a vital asset in the seafood supply chain, ensuring that seafood remains fresh and safe, preserving the freshness and quality of the seafood, preventing spoilage, and maintaining its taste and texture. For instance, in July 2024, according to The State of World Fisheries and Aquaculture (SOFIA) report by the Food and Agriculture Organization (FAO), a US-based specialized agency leading international efforts to defeat hunger, the global fisheries and aquaculture production reached 223.2 million tonnes in 2022, a 4.4% increase from the year 2020. Further, global aquatic animal production is expected to increase by 10% by 2032 to reach 205 million tonnes. Therefore, the rise in the popularity of seafood is driving the growth of the freezing fishing vessels market.

What Is The Key Trend In The Global Freezing Fishing Vessels Market?

Innovative Freezing Fishing Vessels Revolutionize Deep-Sea Fishing Operations
Major companies operating in the freezing fishing vessels market are focused on developing nnovtaive products such as, freezer stern factory trawler, to enhance their capabilities in deep-sea fishing, improve efficiency in onboard processing, and meet increasing demands for high-quality, frozen seafood products. A freezer stern factory trawler is a specific type of fishing vessel that combines both freezing and factory processing capabilities and is designed for efficiency in catching, processing, and preserving fish at sea. For instance, in January 2023, Tersan Shipyard, a Turkey-based freezing company, launched Jan Maria, a freezer stern factory trawler. Jan Maria is outfitted with fully integrated onboard systems for grading, filleting, processing, and freezing. It features a shrimp factory, an advanced fillet factory, and a fishmeal and fish oil plant. The vessel measures 88.10 meters in length, 18.30 meters in width, and has a gross tonnage 5,997. It is powered by a 7,000 kW Wärtsilä propulsion system and can house a crew of up to 43 individuals.

How Is The Global Freezing Fishing Vessels Market Segmented?
The freezing fishing vessels market covered in this report is segmented -

1) By Type: Commercial Fishing Vessels, Artisanal Fishing Vessels, Recreational Fishing Vessels
2) By System: Air Blast Freezing, Plate Frezeeing, Brine, Individual Quick Frozen (IQF)
3) By Freezing Capacity: 50 Tons To 150 Tons, 150 Tons To 300 Tons, Less Than 50 Tons, More Than 300 Tons
4) By Vessel Length: Less Than 20M, 21-30M, 31-40M, More Than 40M

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How Is The Competitive Landscape Of The Global Freezing Fishing Vessels Market?
Major companies operating in the freezing fishing vessels market are Rolls-Royce PLC, Wärtsilä Oyj Abp, Green Yard Kleven AS, Ulstein Group ASA, Kongsberg Gruppen ASA, The Damen Group, Lerøy 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.

Contents Of The Global Freezing Fishing Vessels Market
1. Executive Summary
2. Freezing Fishing Vessels Market Report Structure
3. Freezing Fishing Vessels Market Trends And Strategies
4. Freezing Fishing Vessels Market - Macro Economic Scenario
5. Freezing Fishing Vessels Market Size And Growth
…..
27. Freezing Fishing Vessels Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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