Making a splash: Good service and detailed product knowledge have aided margins

Operators in the Seafood Retailing industry have been supported by consumer trends and other external factors that have boosted seafood consumption over the past five years. Increasing health consciousness has contributed to more Australians incorporating fresh fish into their diets, as it is a lean source of protein and other nutrients, such as omega-3 oils. Rising health consciousness and growing disposable incomes have boosted seafood consumption over the period, driving industry growth. In addition, consumers have increased consumption of high-value fresh seafood over the past five years. The higher prices fresh products attract have assisted industry revenue and profitability growth over the period. Industry revenue is expected to increase at an annualised 4.3%...read more.

Industry Statistics & Market Size
Revenue
$585m
Annual Growth 13-18
4.3%
Forecast Growth 18-23
Profit
Employment
2,386
Businesses
692
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Competition from the major supermarkets has grown over the past five years
  • Seafood retailers have provided superior service to win back customers from supermarkets
  • While seafood consumption is growing, competitive pressures are limiting industry expansion
  • Industry Report - Industry Investment Chapter

    Capital intensity has remained at a moderate level in the Seafood Retailing industry over the past five years. For every dollar spent on capital, an estimated $5.89 is spent on wages. Significant capital expenditure is required when entering the industry. Operators must fit-out shop fronts with refrigerated displays, cash registers and scales. Adequate refrigerated storage facilities are also required at the back of the store. Repair and replacement costs for these items, particularly refrigeration equipment, are ongoing capital expenses.The industry is highly reliant on labour, reflected in its significant wage costs. Trained fishmongers are required for a range of tasks including gutting, boning, descaling and filleting of fish. Fis...purchase to read more.

    Additional Insights for the Seafood Retailing Industry

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

  • Attractive product presentation
  • Production of goods currently favoured by the market
  • Having a clear market position
  • IBISWorld analysts also discuss how external factors such as Seafood consumption and Domestic price of fish and other seafood in the Seafood Retailing industry impact industry performance..

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    What's in this report

    What is the Seafood Retailing 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. The industry excludes the retail sale of seafood by mass retailers, such as supermarkets.

    Industry Products
  • Fish
  • Crustaceans
  • Molluscs
  • Industry Activities
  • Fish retailing
  • Seafood retailing
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Seafood consumption
  • Domestic price of fish and other seafood
  • Real household disposable income
  • Demand from supermarkets and grocery stores
  • Health consciousness

  • Current Performance
  • Increased consumption
  • Rising prices
  • Supermarket surge
  • Exceptional service
  • Food service threat
  • Imported produce
  • Chart: Revenue Growth

  • Industry Outlook
  • Seafood consumption
  • Sustainability concerns
  • Continued competition
  • Industry structure
  • Table: Seafood Retailing Industry Revenue Outlook

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

  • Supply Chains
    Key Buying Industries
  • Pubs, Bars and Nightclubs
  • Fast Food and Takeaway Food Services
  • Restaurants
  • Consumers

  • Key Selling Industries
  • Fish and Seafood Wholesaling
  • Seafood Processing

  • Products & Services
  • Fish
  • Crustaceans
  • Molluscs
  • Chart: Seafood Retailing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Third and fourth quintiles
  • Fifth quintile
  • First and second quintiles
  • Chart: Major Market Segmentation for the Seafood Retailing 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 Retailing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Seafood Retailing 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 Retailing 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 Retailing Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Crustacean
  • Aquatic arthropods such as prawns, lobsters, crayfish and crabs.
  • Fishmonger
  • A specialist fish retailer, trained in the gutting, boning, descaling and filleting of fish and other seafood.
  • Mollusc
  • Invertebrate sea creatures that inhabit the shore, such as abalone, scallops, squid and octopuses.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Seafood Retailing 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 Retailing:
    • 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 Retailing 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 Retailing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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