Neither fish nor fowl: The industry expands but growth has been limited by import competition

The industry expanded slowly during the past five years, supported by growth in exports. Domestic demand conditions also increased mildly, aided by rising real incomes during the first two years and increasing awareness of healthy eating, and contributed positively. However, fish catch volumes remained low and constrained growth, as operators had a limited supply of inputs to process and sell. Import competition also intensified and curtailed expansion. Revenue is expected to increase at a compound annual rate of 1.3% over the five years through 2018-19 to £3.1 billion.Revenue dipped in 2016-17 as the Icelandic fishing strike lowered the availability of inputs that operators could process and sell, as operators also source inputs from more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24

Industry Threats & Opportunities

  • Growing health consciousness is excepted to contribute to industry revenue expansion
  • Industry profitability has risen only marginally over the past five-year period
  • Rising real incomes should allow households to increase spending on seafood products
  • Industry Report - Industry SWOT Analysis Chapter

    The industry is in the mature phase of its life cycle. There has been little technological advancement in the industry, although some players have started using efficient technologies to improve productivity. Similarly, few new products or markets have been developed during the past five years. These factors indicate that the industry is mature.Industry value added, which measures the industry's contribution to the overall economy, is forecast to grow at a compound annual rate of 0.7% over the 10 years through 2023-24. Meanwhile, the overall UK economy is projected to grow at a compound annual rate of 1.7% over the same period. This highlights that the industry will grow at a slower pace when compared with the wider economy, and confirms that the industry is mature...purchase to read more.

    Additional Insights for the Seafood Processing Industry

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

  • Optimum capacity utilisation
  • Market research and understanding
  • Economies of scope
  • IBISWorld analysts also discuss how external factors such as Seafood catch volumes and Health consciousness in the Seafood Processing industry impact industry performance..

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    What's in this report

    What is the Seafood Processing Industry?

    Industry operators process fish, molluscs, crustaceans and other seafood. The industry includes factory ships that process seafood, unless they also engage in fishing activities, and excludes the processing of products derived from marine mammals. The preparation of frozen-fish dishes and the manufacture of fish soups also fall outside the scope of the industry.

    Industry Products
  • Canned seafood
  • Smoked, dried and salted seafood
  • Frozen seafood
  • Fishmeal and other products
  • Seafood in batter or breadcrumbs
  • Industry Activities
  • Preparing fish, crustaceans, molluscs and affiliated products
  • Freezing, canning and preservation of fish, crustaceans and molluscs
  • Processing seaweed
  • Producing fishmeal
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Seafood catch volumes
  • Health consciousness
  • Real household disposable income
  • Demand from seafood retailers
  • Landed price index of seafood

  • Current Performance
  • Catch volumes
  • Demand improves marginally
  • Imports rise
  • Profitability constrained
  • Regulatory changes
  • Chart: Revenue Growth

  • Industry Outlook
  • Demand conditions
  • Imports hamper growth
  • Table: Seafood Processing Industry Revenue Outlook

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

  • Supply Chains
    Key Buying Industries
  • Seafood Processing
  • Supermarkets
  • Seafood Retailers
  • Food-Service Contractors

  • Key Selling Industries
  • Aquaculture
  • Marine Fishing

  • Products & Services
  • Frozen seafood
  • Canned seafood
  • Smoked, dried and salted seafood
  • Seafood in batter or breadcrumbs
  • Fishmeal and other products
  • Chart: Seafood Processing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Exports
  • Supermarkets
  • Wholesalers
  • Fishmongers
  • Direct sales
  • Chart: Major Market Segmentation for the Seafood Processing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesDepreciation and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Seafood Processing

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Seafood Processing Industry

  • Industry Globalization
    Young's Seafood Ltd, Seachill UK Ltd,
  • Table: Young's Seafood Ltd - financial performance
  • Table: Seachill UK Ltd - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Seafood Processing 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 Processing Industry
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • The cultivation of aquatic animals, especially fish and shellfish, in natural or controlled marine or freshwater environments primarily for use as food.
  • Blast Freezer
  • A freezer that cools food rapidly to ensure the water inside it forms small crystals. This preserves the food's flavour and is better than a slower freezing process.
  • Landed Price Index
  • A measure of the average price of seafood at the dock or the price that fishermen receive per tonne.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Seafood Processing market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

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

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