International waters: Increasing sales in export markets have boosted industry revenue

The proportion of domestic demand for seafood met by imports has risen over the past five years, increasing competition for the Seafood Processing industry. Industry operators have effectively responded to rising imports over the period by developing export channels. Consequently, industry revenue is expected to grow at an annualised 4.5% over the five years through 2017-18, to reach $1.4 billion. The exit of some small-scale firms, disease outbreaks and unfavourable changes to industry regulations are expected to slow revenue growth to 0.4% in 2017-18.International trade has become increasingly important in the Seafood Processing more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Threats & Opportunities

  • Imports are accounting for a rising proportion of domestic seafood demand
  • 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 Investment Chapter

    The Seafood Processing industry exhibits moderate capital intensity, with an average $0.27 spent on capital for every $1 spent on wages across the industry. Capital intensity varies depending on the operator's size and type of products processed. Industry segments such as processed fish canning are relatively capital-intensive, while processing crustaceans and molluscs requires more hand-processing to reduce wastage. Furthermore, a significant amount of the industry consists of sole proprietors or companies employing fewer than 20 staff. The amount of automated processing is therefore low as many small-scale operators cannot afford the machinery needed for significant process automation. The industry has increased its dependence on automated machinery over the past five years. How...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 Vietnam
  • Other export markets
  • Other
  • Retailers
  • Wholesalers
  • 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, Simplot Australia (Holdings) Pty Limited, Huon Aquaculture Group Limited,
  • Table: Tassal Group Limited - financial performance
  • Table: Simplot Australia (Holdings) Pty Limited - financial performance
  • Table: Huon Aquaculture Group 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 (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)

  • 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 is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    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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