Industry Analysis & Industry Trends
China is one of the largest seafood consuming countries in the world. This is due to fish traditionally being consumed on a daily or weekly basis in many Chinese households, as well as the health benefits of having a diet high in fish. In 2010, revenue for the Frozen Seafood Processing industry is expected to total $41.9 billion, up 8.5% from 2010. Industry revenue is expected to increase at an annualized rate of 16.2% in the five years through 2011 as domestic demand increases at a strong and steady rate.
China's frozen seafood exports increased strongly in 2006, accounting for almost one quarter of industry revenue during the year. However, contamination issues and foreign bans on Chinese seafood saw exports slow in 2007 and decline in 2008.... purchase to read more
Industry Report - Industry Analysis Chapter
The Frozen Seafood Processing industry in China is relatively large, generating a forecast $41.9 billion in revenue in 2011 to satisfy $41.8 billion of domestic demand. The industry imports large volumes of raw seafood from Russia, the United States, Japan, Canada and Norway. Increasing per capita incomes, greater ownership of freezers in China and the rapid development of downstream wholesale and retail industries have all contributed to rapid industry growth in the past five years.
The profitability of this industry has increased in recent years, to a forecast 4.6% of revenue in 2011. Improved processing efficiency of seafood is the main contributor to profit increases... purchase to read more