Big fish: Domestic demand for seafood is expected to rise as disposable income grows

Though the Seafood Preparation industry has grown over the five years to 2017, several factors prohibited larger gains. The vast appreciation of the US dollar has made exports relatively more expensive and increasing domestic harvests have lowered per-unit prices. However, these have generally been outweighed by positive trends. Firstly, eating trends have prompted consumers to purchase more seafood, which is often considered a healthier protein option than most poultry and red meat...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Threats & Opportunities

  • Larger operators have sought ways to increase their market share in a fairly saturated market
  • Import trends have leveled out, falling since the beginning of the period
  • Consumers are also expected to dine out more often as they gain confidence in the economy
  • Industry Report - Industry Products Chapter

    Prepared frozen fishSales of prepared frozen fish segment are expected to account for 35.1% of the Seafood Preparation industry's revenue in 2018. The most commonly produced frozen fish products are battered white fish such as cod and haddock, commonly known as fish sticks and fish fillets. The products in this segment are popular because consumers appreciate their long shelf life in comparison to fresh products. In addition, prepared frozen seafood is generally inexpensive and can be prepared quickly and easily. These products are either bought by customers from supermarkets, or are consumed while dining at inexpensive restaurants. Sea...purchase to read more.

    Additional Insights for the Seafood Preparation Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Seafood Preparation Industry are

  • Marketing of differentiated products
  • Control of distribution arrangements
  • Supply contracts in place for key inputs
  • IBISWorld analysts also discuss how external factors such as Demand from fish and seafood wholesaling and Per capita seafood consumption in the Seafood Preparation industry impact industry performance..

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    What's in this report

    What is the Seafood Preparation Industry?

    This industry is involved in canning, smoking, salting, drying, freezing and packing fish and shellfish. Industry operators also eviscerate fish (remove parts from fish), shuck shellfish (remove their shells) and process fish and shellfish fats and oils. This industry also includes floating factory ships, also known as fish processing vessels, that are engaged in shipboard seafood processing. The term seafood processing is used to describe these activities as a whole.

    Industry Products
  • Prepared frozen fish
  • Prepared fresh fish and other fresh seafood
  • Prepared frozen shellfish
  • Other prepared fresh and frozen seafood
  • Canned fish and seafood
  • Industry Activities
  • Canning fish, crustaceans and mollusks
  • Manufacturing fresh and frozen seafood dinners
  • Freezing fish (e.g. blocks, fillets, ready-to-serve products)
  • Processing seaweed
  • Manufacturing marine fats, oils and meal
  • Shucking and packing fresh shellfish
  • Canning fish and shellfish soup
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from fish and seafood wholesaling
  • Per capita seafood consumption
  • Price of seafood
  • Per capita disposable income
  • Trade-weighted index

  • Current Performance
  • Supply conditions and consumer preferences
  • Trade
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Stable demand
  • Fish and seafood supply
  • Profit expansion
  • Trade
  • Table: Seafood Preparation Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Seafood Preparation Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Animal Food Production
  • Grocery Wholesaling
  • Fish & Seafood Wholesaling
  • Supermarkets & Grocery Stores
  • Chain Restaurants
  • Single Location Full-Service Restaurants
  • Caterers

  • Key Selling Industries
  • Fish & Seafood Aquaculture
  • Fish & Seafood Wholesaling
  • Fishing

  • Products & Services
  • Prepared frozen fish
  • Prepared fresh fish and other fresh seafood
  • Prepared frozen shellfish
  • Other prepared fresh and frozen seafood
  • Canned fish and seafood
  • Chart: Seafood Preparation Industry Products and Services Segmentation

  • Demand Determinants
  • Price of seafood
  • Income
  • Health-consciousness

  • Major Markets
  • Fish & seafood wholesalers
  • Mass merchandisers and grocers
  • Foodservice industries
  • Other distributors
  • Export markets
  • Chart: Major Market Segmentation for the Seafood Preparation Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Purchases
  • Wages
  • Rent, utilities, depreciation, marketing and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Seafood Preparation

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Seafood Preparation Industry

  • Industry Globalization
    Trident Seafoods Corporation, Thai Union Group, Nippon Suisan Kaisha Ltd.,
  • Table: Trident Seafoods Corporation - financial performance
  • Table: Thai Union Group - financial performance
  • Table: Nippon Suisan Kaisha Ltd. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Seafood Preparation Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Seafood Preparation Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • Per capita disposable income (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
  • The farming of aquatic organisms such as fish, crustaceans, mollusks and aquatic plants.
  • Fishery
  • An entity engaged in raising and harvesting fish, either via fishing or aquaculture.
  • Omega-3 Fatty Acid
  • A polyunsaturated fatty acid that is essential for good health and influences various metabolic pathways, resulting in lowered cholesterol and triglyceride levels.
  • Shellfish
  • A fisheries term for shellbearing mollusks and crustaceans.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Seafood Preparation can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Seafood Preparation:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Seafood Preparation market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Seafood Preparation, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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