Key Strategies Such as Mergers & Acquisitions, Expansions, Investments, Agreements, and Joint Ventures Have Been Adopted by the Key Players to Meet the Increasing Demand of Fish Processing Market

Factors such as high nutritional profile and added health benefits of processed fish and fish products, growth in the aquaculture industry, and increase in health consciousness toward value-added fish products are driving the fish processing market.

(EMAILWIRE.COM, September 05, 2019 ) The fish processing industry has many players (small, medium, and large); however, the industry is dominated by a few leading players such as Charoen Pokphand Foods PCL (Thailand), Maruha Nichiro Corporation (Japan), Nippon Suisan Kaisha, Ltd. (Japan), Marine Harvest ASA (Norway), and Thai Union Frozen Products PLC (Thailand). Other players include Pescanova S.A. (Spain), High Liner Foods Incorporated (Canada), Royal Greenland A/S (Denmark), Leroy Seafood Group ASA (Norway), and Norway Pelagic ASA (Norway).

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Key strategies such as mergers & acquisitons, expansions, investments, agreements, and joint ventures have been adopted by the key players to meet the increasing demand of processed fish customers due to its high nutritional profile, increasing incorporation into various food applications, and the rising consumer preference for value-added food products. The leading players are investing in R&D capabilities to offer diversified product portfolios and strengthen their market position.

Maruha Nichiro Corporation

Maruha Nichiro Corporation is principally engaged in fishing, aquaculture, processing, and sale of fish and fish products. The company operates under four business segments which include marine product business, processed food business, storage & logistics business, and other business. The marine product segment is engaged in the fishing, aquaculture, purchase, processing, and sale of fishes and shellfishes. The processed food segment is engaged in the manufacturing and sale of frozen food, canned food, fish sausages, retort food, health food, livestock products, and other processed food. The storage & logistics segment is engaged in the storage and transportation of frozen goods. The other business segment includes the general storage of feedstuff, the provision of marine transportation service, the leasing of real estate, and the manufacturing and sale of furs. The company collaborates with universities, public research institutions, and private companies for analyzing new functional properties, developing functional food products and manufacturing processing technologies. It also focuses on offering value-added products to the changing consumer demand by expanding in emerging markets, developing strategies for sustainable sourcing, and enhancing technological innovation capabilities. Maruha Nichiro Corporation has acquired Austral Fisheries Pty Ltd. (Australia) which will enhance company’s access toward marine product resources.

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Thai Union Frozen Products Public Company Limited

Thai Union Frozen Products Public Company Limited is a leading manufacturer and exporter of frozen and canned seafood. It has six major divisions: tuna business, shrimp and related business, sardine and mackerel business, salmon business, pet food business, and value-added business and other products. It is the world’s largest producer of tuna products and includes brands like Chicken of the Sea, John West, Petit Navire, Mareblu, Century, and Parmentier. The company sources its own raw material from the sea for its processing, and is also involved in its packaging and distribution. It continuously tries to diversify its product offerings by entering new market segments and geographical territories. The company also focuses on innovation and tries to enter into joint ventures and alliances with companies offering similar products and benefit from each other’s expertise. Thai Union Frozen Products PCL signed an agreement with Rugen Fisch AG (Germany) which will strengthen company’s market position in Europe.

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