Net growth: Industry revenue is forecast to rise as consumer confidence returns to growth

The Seafood Retailers industry consists of specialised retailers that sell fish, shellfish and molluscs. Industry performance has been influenced by a range of factors over the past five years, including competition from supermarkets, changing consumer preferences and the outcome of the EU referendum. Supermarkets have been drawing demand away from industry operators over the past five years, and as a result specialist seafood retailer have been accounting for a declining share of the total seafood market. Over the five years through 2019-20, industry revenue is forecast to decrease at a compound annual rate of 0.6% to reach £363.5 million. In the current year, industry revenue is forecast to fall by more.

Industry Statistics & Market Size
Annual Growth 15-20
Forecast Growth 20-25
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Growing health concerns and levels of obesity have led to awareness of the benefits of seafood
  • Supermarkets and fish-and-chip shops rival industry players due to the convenience they offer
  • Retailers are likely to be insulated from the weak pound’s effects as they source domestically
  • Industry Report - Starting a New Business Chapter

    The Seafood Retailers industry has moderate barriers to entry, the initial start-up costs being the main barrier that must be overcome. Prospective entrants will need to secure retail space in close proximity to a high number of shoppers in order to attract custom. In an era where the retail industry remains significantly fragile, new entrants must ensure the geographical location chosen is in need of the service, otherwise the chances of success will be slim. Furthermore, prospective entrants will need to invest in equipment and tools specially used by fishmongers such as scaling and cutting equipment, freezers and cold room stores.In addition to this, entrants will need to develop supply links with wholesalers and processors. Exi...purchase to read more.

    Additional Insights for the Seafood Retailers Industry

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

  • Ability to pass on cost increases
  • Access to high quality inputs
  • Access to highly skilled workforce
  • IBISWorld analysts also discuss how external factors such as Household expenditure on fish and Demand from supermarkets in the Seafood Retailers industry impact industry performance..

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    What's in this report

    What is the Seafood Retailers Industry?

    The industry consists of specialised retailers that sell fish, shellfish and molluscs. This seafood can be sold in a natural chilled state, filleted, smoked, salted, curried or in ready-to-eat meals to be cooked at home. This industry excludes the retail sale of seafood by mass retailers such as supermarkets and department stores.

    Industry Products
  • Fresh and frozen fish
  • Fresh and frozen shellfish
  • Canned seafood
  • Salted, smoked and cured fish
  • Other seafood
  • Industry Activities
  • Retailing fish
  • Retailing shellfish
  • Retailing molluscs
  • Preparing seafood for cooking
  • Table of Contents

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

  • Current Performance
  • EU referendum
  • Intense competition
  • Attracting demand
  • Consumers hooked
  • Chart: Revenue Growth

  • Industry Outlook
  • EU referendum
  • Consumer awareness
  • Pushing the boat out
  • Fish out of water
  • Table: Seafood Retailers Industry Revenue Outlook

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

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Aquaculture
  • Marine Fishing
  • Seafood Processing

  • Products & Services
  • Fresh and frozen fish
  • Fresh and frozen shellfish
  • Salted, smoked and cured fish
  • Canned seafood
  • Other seafood
  • Chart: Seafood Retailers Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Highest quartile income earners
  • Second-highest quartile income earners
  • Third-highest quartile income earners
  • Lowest quartile income earners
  • Chart: Major Market Segmentation for the Seafood Retailers Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesPurchase costs are the single-largest expense for industry operators and are estimated to account for 73.6% of revenue. The landing price index (LPI) of seafood, as measured by the Marine Management Organisation, is a measure of the price received by fishermen for their catch at the point of landing or unloading. This price filters down to retailers, meaning it generally determines purchase costs. The LPI has increased since 2015, and grew most notably in 2016 as a result of the depreciation of the pound that followed the EU referendum. The weak pound made imports more expensive, causing an increase in demand for the relatively cheaper domestic catch and in turn inflating prices. The increasing LPI since 2015 is expected to have trickled down to retailers, increasing purchase costs and hindering profit margins. WagesRentDepreciationMarketingMarketing costs are estimated to account for a minor 0.3% of industry revenue. Specialised seafood retailers typically emphasise customer service and rely on word of mouth as a source of promotion. Other
  • Chart: Cost Structure Benchmarking – Sector vs Seafood Retailers

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Seafood Retailers 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 Seafood Retailers 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 Retailers Industry
  • Industry Revenue (2011-2025)
  • Industry Gross Product (2011-2025)
  • Establishments (2011-2025)
  • Businesses (2011-2025)
  • Employment (2011-2025)
  • Wages (2011-2025)
  • Wages (2011-2025)
  • Purchases (2011-2025)
  • Profit (2011-2025)
  • Depreciation (2011-2025)
  • Marketing (2011-2025)
  • Rent (2011-2025)
  • Utilities (2011-2025)
  • Other (2011-2025)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • The farming of fish, shellfish, algae, plants and other organisms in marine and freshwater environments.
  • Discarding
  • The practice of throwing parts of a catch back into the sea, due to factors such as quota restrictions or the fish being considered unmarketable.
  • Landing Price
  • The price for the product at landing point.
  • Shellfish
  • Aquatic animal that has a shell.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Seafood Retailers market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

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

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