Upscaling: Strong export demand has supported vertically integrated seafood processors

Seafood imports have met an increasing proportion of domestic demand over the past five years, increasing competition for the Seafood Processing industry. Industry operators have effectively responded to rising imports by developing export channels over the period. Consequently, industry revenue is expected to grow at an annualised 3.0% over the five years through 2018-19, to reach $1.1 billion. Industry revenue is expected to increase by 7.4% in 2018-19, due to growth in domestic seafood consumption and prices, and greater demand for Australian seafood exports.International trade has become increasingly important in the Seafood Processing more.

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

Industry Threats & Opportunities

  • International trade is increasingly influencing the industry, as imports and exports rise
  • Conservation efforts by the Federal Government have gradually increased fish stocks
  • Innovation and export opportunities will likely enable large-scale industry firms to grow
  • Industry Report - Industry Products Chapter

    Products in the Seafood Processing industry are split according to preparation method. Industry segments include fresh or chilled seafood; frozen seafood; prepared or preserved seafood; dried, salted or smoked seafood; and other products. Revenue derived from the various segments is not proportional to the volume sold, due to differences in seafood prices and value added. As exports make up the majority of revenue, industry segments generally reflect activity in export markets more than the domestic market.Fresh or chilled seafoodFresh or chilled seafood is expected to account for 62.3% of industry revenue in 2018-19. This segment includes a range of fish and shellfish products that are neither frozen nor canned. Fre...purchase to read more.

    Additional Insights for the Seafood Processing Industry

    IBISWorld has determined the most important Key Success Factors for the Seafood Processing are:

  • Establishment of export markets
  • Use of production techniques that add value to base product(s)
  • Market research and understanding
  • IBISWorld analysts also discuss how external factors such as Demand from aquaculture and Demand from fish and seafood wholesaling in the Seafood Processing industry impact industry performance..

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    What's in this report

    What is the Seafood Processing Industry?

    Industry companies process and manufacture fish or other seafood. The industry includes businesses that operate vessels that process, but do not catch fish or other seafood. The industry also includes firms that freeze whole finfish, or shell, freeze or bottle oysters in brine. The industry does not include fishing vessels that both catch and process fish or other seafood.

    Industry Products
  • Fresh or chilled seafood
  • Frozen seafood
  • Prepared or preserved seafood
  • Smoked, dried or salted seafood
  • Other products
  • Industry Activities
  • Crustaceans processing
  • Fish cleaning, filleting, drying and smoking
  • Fish fillet
  • Fish loaf or cake
  • Fish paste
  • Fish pate
  • Mollusc processing
  • Preserved scallops
  • Seafood canning
  • Whole finfish freezing
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from aquaculture
  • Demand from fish and seafood wholesaling
  • Demand from fishing
  • Trade-weighted index
  • Domestic price of fish and other seafood
  • Seafood consumption

  • Current Performance
  • Revenue drivers
  • Profit and cost structure
  • Overfishing trends
  • Chart: Revenue Growth

  • Industry Outlook
  • International trade
  • Industry innovation
  • Industry structure
  • Long-term sustainability
  • 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
  • Fish and Seafood Wholesaling
  • Fresh Meat, Fish and Poultry Retailing
  • Catering Services
  • Supermarkets and Grocery Stores
  • Restaurants
  • Cafes and Coffee Shops

  • Key Selling Industries
  • Aquaculture
  • Fishing

  • Products & Services
  • Fresh or chilled seafood
  • Frozen seafood
  • Prepared or preserved seafood
  • Smoked, dried or salted seafood
  • Other products
  • Chart: Seafood Processing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Exports to China
  • Other export markets
  • Exports to Vietnam
  • Domestic markets
  • 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
  • Chart: Cost Structure Benchmarking – Sector vs Seafood Processing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Seafood Processing Industry

  • Industry Globalization
    Tassal Group Limited, Huon Aquaculture Group Limited, Simplot Australia (Holdings) Pty Limited,
  • Table: Tassal Group Limited - financial performance
  • Table: Huon Aquaculture Group Limited - financial performance
  • Table: Simplot Australia (Holdings) Pty Limited - 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)
  • Wages (2010-2024)
  • Purchases (2010-2024)
  • Profit (2010-2024)
  • Depreciation (2010-2024)
  • Rent (2010-2024)
  • Utilities (2010-2024)
  • Other (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • The ASEAN-Australia-New Zealand Free Trade Agreement, which entered into force in October 2015. The ASEAN block contains Indonesia, Malaysia, the Philippines, Singapore, Thailand, Vietnam and others.
  • Chafta
  • The China-Australia Free Trade Agreement, which entered into force on 20 December 2015.
  • Crustaceans
  • Aquatic arthropods, including lobsters, prawn, barnacles, crabs and crayfish.
  • Finfish
  • A term used to distinguish fish from molluscs and crustaceans.
  • Overfishing
  • The depletion of natural fish stocks due to large-scale fishing activity.
  • Salmonids
  • A family of fish that includes salmon, trout, char, and graylings.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Seafood Processing 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 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 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 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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