Resurfacing: As disposable income grows, consumers' appetites for seafood will stabilize

The Fish and Seafood Markets industry has experienced moderate growth in recent years, primarily as a result of increasing per capita seafood consumption. Moreover, industry performance has also been supported by increases in per capita disposable income, which have facilitated higher-margin purchases of industry products. The growing incidence of disease in the United States, such as heart disease and diabetes, has also caused many consumers to incorporate more finfish and fish oil into their diets. Over the next five years, the industry is anticipated to decelerate. Despite this slowdown, industry profitability is anticipated to increase slightly, along with the number of industry participants...read more.

Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 12-17
3.7%
Forecast Growth 17-22
Profit
Employment
14,255
Businesses
4,646
Market Share of Companies
There are no companies with a dominant market share in this industry
What Our Customers Say

Industry Threats & Opportunities

  • The industry benefits from favorable pricing and stabilizing consumption of seafood
  • Serious outbreaks of foodborne illnesses have boosted demand for locally sourced seafood
  • Heightened publicity for the mercury content of certain seafood may hamper growth
  • Industry Report - Starting a New Business Chapter

    The Fish and Seafood Markets industry exhibits low barriers to entry. The fragmented characteristic of this industry along with low capital investments required for the business make the barriers to entry particularly low. The top three industry operators account for less than 4.0% of industry revenue in 2017, making it easier for prospects to enter the industry. Furthermore, most industry participants are individually-owned businesses or small chains with fewer than five locations.Fish and seafood markets exhibit low capital intensity. Some capital investment is needed to purchase cash registers, scales and cold-storage units. However, potential retailers are not particularly constrained by the initial capital investment required to open a fish market. Gen...purchase to read more.

    Additional Insights for the Fish & Seafood Markets Industry

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

  • Attractive product presentation
  • Experienced work force
  • Proximity to key markets
  • IBISWorld analysts also discuss how external factors such as Per capita seafood consumption and Price of seafood in the Fish & Seafood Markets industry impact industry performance..

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    What is the Fish & Seafood Markets Industry?

    Fish and seafood markets primarily retail fresh, frozen and cured fish and seafood items, such as tuna, salmon, lobster and shrimp. Products are sold at various brick-and-mortar locations including independent markets, delicatessens, fishmongers and butcher shops. Fish and seafood markets and counters operating within a supermarket are excluded from this industry, as are online sales of fish products.

    Industry Products
  • Fresh fish for human consumption
  • Frozen fish for human consumption
  • Fish meal and fish oil
  • Canned fish
  • Cured fish
  • Animal food and other
  • Industry Activities
  • Operating fish markets
  • Operating seafood markets
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Per capita seafood consumption
  • Price of seafood
  • Per capita disposable income
  • Demand from food services and drinking places
  • Per capita meat consumption

  • Current Performance
  • Health-conscious consumer base
  • Overall demand rises
  • External competition grows
  • Chart: Revenue Growth

  • Industry Outlook
  • Health concerns drive demand
  • External competition to limit growth
  • Turning pests into profit
  • Table: Fish & Seafood Markets Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Fish & Seafood Markets Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Chain Restaurants
  • Single Location Full-Service Restaurants
  • Consumers

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

  • Products & Services
  • Fresh fish for human consumption
  • Frozen fish for human consumption
  • Fish meal and fish oil
  • Canned fish
  • Animal food and other
  • Cured fish
  • Chart: Fish & Seafood Markets Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Consumers
  • Restaurants
  • Wholesalers
  • Retailers
  • Other
  • Chart: Major Market Segmentation for the Fish & Seafood Markets Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRent and utilitiesOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Fish & Seafood Markets

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Fish & Seafood Markets Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Fish & Seafood Markets 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 Fish & Seafood Markets Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Per capita seafood consumption (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Aquaculture
  • The method of harvesting fish under grower-controlled conditions.
  • Brick-And-Mortar
  • A designation for stores that have a physical presence, as opposed to those that have an online presence.
  • E. Coli
  • A strain of bacteria that can be found in contaminated water or food that causes severe abdominal cramps, bloody diarrhea and vomiting.
  • Finfish
  • A broad classification referring to bony fish, often used to distinguish from shellfish and other invertebrate aquatic life.
  • Why buy this report?

    IBISWorld’s Fish & Seafood Markets Industry Research Report contains up-to-date data and analysis, allowing you to identify the strengths and potential weaknesses of major companies in the industry. Build your credibility with clients and prospects by sharing insights into the current and emerging trends driving their industry. Our market research gives you the tools to win new business and keep existing clients.

    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 Fish & Seafood Markets:
    • 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 Fish & Seafood Markets 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 Fish & Seafood Markets, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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