Sea change: Rising demand from time-strapped customers will help buoy the industry

The Prepared Frozen Fish Production industry expanded marginally over the past five years. Since seafood is more expensive than red meat and poultry, when disposable income rises, consumers are able to comfortably trade up to more seafood. However, as the price of key inputs, namely fish and seafood, fluctuated over the current period, revenue fluctuated accordingly. Furthermore, marginal increases in per capita seafood consumption subdued industry growth. Although frozen foods are typically perceived as being less healthy than fresh foods, young professionals that are strapped for time are increasingly purchasing frozen foods for their convenience...purchase to read more.

Industry Statistics & Market Size
Revenue
$7bn
Annual Growth 12-17
0.6%
Forecast Growth 17-22
Profit
Employment
21,673
Businesses
941

Industry Threats & Opportunities

  • Opportunities to innovate new healthful varieties of existing products has encouraged a rise in the number of industry operators
  • Operators invested in new technologies to streamline operations and cut costs
  • Industry performance will be driven by renewed demand for seafood as well as growth in disposable incomes
  • Industry Report - Industry Products Chapter

    Prepared frozen fishSales of prepared frozen fish represent the largest segment of the Prepared Frozen Fish Production industry's revenue in 2017. Common frozen fish produced include various forms of ground fish, Alaska pollock, halibut, flounder and catfish. These fish are generally prepared in the form of battered filets, steaks, sticks, or burgers. Operators also offer plain frozen filets and burgers. In general, prepared frozen fish products remain popular as a result of their long shelf lives and relatively inexpensive costs when compared with fresh fish products. Operators sell these products to various downstream markets including, supermarkets and restaurants, where they are purchased by consumers. Whi...purchase to read more.

    Additional Insights for the Prepared Frozen Fish Production Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Prepared Frozen Fish Production Industry are

  • Marketing of differentiated products
  • Effective quality control
  • Supply contracts in place for key inputs
  • IBISWorld analysts also discuss how external factors such as Price of seafood and Per capita disposable income in the Prepared Frozen Fish Production industry impact industry performance..

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    What's in this report

    What is the Prepared Frozen Fish Production Industry?

    This industry processes fish and seafood into prepared products that are then frozen, including whole dinners, fillets, surimi, soups and chowders. Fresh-prepared seafood items are excluded.

    Industry Products
  • Prepared frozen fish
  • Prepared frozen shellfish
  • Other prepared frozen seafood
  • Industry Activities
  • Freezing fish (e.g. blocks, fillets, ready-to-serve products)
  • Freezing shellfish
  • Freezing surimi and other prepared fish dishes
  • Table of Contents

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

  • Current Performance
  • Quick meals
  • Industry structure
  • Profit and trade
  • Chart: Revenue Growth

  • Industry Outlook
  • Steady demand
  • Import competition
  • Table: Prepared Frozen Fish Production Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Prepared Frozen Fish Production Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • 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 frozen shellfish
  • Other prepared frozen seafood
  • Chart: Prepared Frozen Fish Production Industry Products and Services Segmentation

  • Demand Determinants
  • Price and consumption
  • Convenience
  • Income
  • Health trends

  • Major Markets
  • Grocery Wholesalers
  • Retailers
  • Food Service Establishments
  • Other
  • Exports
  • Chart: Major Market Segmentation for the Prepared Frozen Fish Production Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesOther
  • Chart: Cost Structure Benchmarking – Sector vs Prepared Frozen Fish Production

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Prepared Frozen Fish Production Industry

  • Industry Globalization
    High Liner Foods, Trident Seafoods Corporation, Nippon Suisan Kaisha Ltd.,
  • Table: High Liner Foods - financial performance
  • Table: Trident Seafoods Corporation - financial performance
  • Table: Nippon Suisan Kaisha Ltd. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Prepared Frozen Fish Production 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 Prepared Frozen Fish Production Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (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
    Aquaculture
  • The farming of aquatic organisms such as fish, crustaceans, mollusks and aquatic plants.
  • Economies Of Scale
  • The increase in efficiency of production as the number of goods being produced increases.
  • Fishery
  • An entity engaged in raising and harvesting fish, either via fishing or aquaculture.
  • Shellfish
  • A fisheries term for shellbearing mollusks and crustaceans.
  • What Our Customers Say

    Why buy this report?

    The Prepared Frozen Fish Production industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

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    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
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    • 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 Prepared Frozen Fish Production 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
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    • And of course, much more

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