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How large is the freezing fishing vessels market, and what is its growth trajectory?
The freezing fishing vessels market size has grown strongly in recent years. It will grow from $1.65 billion in 2024 to $1.75 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to growth in awareness of the health benefits associated with seafood, increasing demand for sustainable development, increasing focus on food safety and quality, growing demand for frozen seafood, and increasing consumer demand for value-added sea products.
The freezing fishing vessels market size is expected to see strong growth in the next few years. It will grow to $2.22 billion in 2029 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to rising concerns about overfishing, preservation of catch quality, extending the shelf life of seafood products, regulatory compliance, and increases economic efficiency. Major trends in the forecast period include technological advancements, innovations in freezing methods, smart technologies, advancements in vessel efficiency and design, and industrial innovations.
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What have been the primary factors driving the freezing fishing vessels market’s growth?
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 tons 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 tons. Therefore, the rise in the popularity of seafood is driving the growth of the freezing fishing vessels market.
What are the key segments within the freezing fishing vessels market?
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 Freezing, 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
Subsegments:
1) By Commercial Fishing Vessels: Trawlers, Longliners, Purse Seiners, Factory Ships, Freezer Trawlers, Freezer Longliners
2) By Artisanal Fishing Vessels: Small-Scale Freezing Vessels, Traditional Fishing Boats With Freezing Capabilities, Coastal Fishing Vessels, Handline And Gillnet Freezing Boats
3) By Recreational Fishing Vessels: Sport Fishing Boats With Freezing Facilities, Charter Fishing Boats With Freezer Storage, Private Yacht-Style Fishing Vessels With Freezing Options, High-End Luxury Recreational Freezing Vessels
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Which key players are shaping the 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.
How will emerging trends drive the freezing fishing vessels market throughout the forecast period?
Major companies operating in the freezing fishing vessels market are focused on developing innovative 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 do regional factors impact the freezing fishing vessels market, and which region is the largest contributor?
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.
What Does The Freezing Fishing Vessels Market Report 2025 Offer?
The freezing fishing vessels market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A freezing fishing vessel is a type of fishing vessel equipped with facilities to preserve caught fish by freezing them immediately after capture. This vessel helps maintain the quality and freshness of the fish over extended periods, allowing the vessel to remain at sea for extended durations without needing to return to port frequently.
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