Industry Analysis & Industry Trends
A combination of low catch volumes, the recession and volatile seafood prices has caused marine fishing revenue to decline 4.9% per annum over the five years through 2011-12 to total £485.3 million. In 2011-12 revenue is estimated to decline by 0.9% from the previous year. Over the past five years, catch volumes have declined 1.6% per annum, however, higher prices for seafood softened the decline in revenue. The global recession has seen the price of seafood fall since 2008, resulting in industry revenue contracting.
British household expenditure on seafood has increased by an annual rate of more than 2% over the five-year period. However, the recession has caused consumption to fall since 2009... purchase to read moree
Industry Report - Industry SWOT Analysis Chapter
The industry's contribution to GDP has declined over the last five years, indicating the industry is in the mature phase of its economic life cycle. Slow growth in revenue has been caused by both flat catch volumes and volatile seafood prices. The industry has introduced little new technology in recent years, with smaller fishing boats remaining relatively unchanged in the last 20 years. However, larger ships have changed significantly with new and bigger processing and refrigeration capabilities, larger nets and lines. Advances in communication technology and meteorology have been incorporated into most vessels, which has enabled fishermen to better track weather conditions, currents and other variables... purchase to read more