Better fish to fry: Rising demand for high-quality fresh seafood boosts industry revenue

Operators in the Seafood Retailing industry have benefited from rising seafood consumption over the past five years. Increasing health consciousness over the period has encouraged Australians to incorporate more fresh fish into their diets, as it is a lean source of protein and other nutrients, such as omega-3 oils. Higher seafood consumption has boosted retail sales volumes over the past five years, increasing industry revenue. Consumers have also purchased an increasing amount of high-value fresh seafood options over the period, following wider food retailing consumption trends. The higher prices that fresh products attract have contributed to industry revenue and profitability growth over the past five years. Industry revenue is expected to increase at an annualised 2.6%...read more.

Industry Statistics & Market Size
Revenue
$962m
Annual Growth 14-19
2.6%
Forecast Growth 19-24
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Profit
x.x%lock
Employment
4,814
Businesses
1,151
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 intensified over the past five years
  • Rising competition from the major supermarkets has placed pressure on specialty seafood retailers
  • Competitive pressures are forecast to limit industry expansion despite rising seafood consumption

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    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 in 2018-19, industry operators spend an estimated $4.56 on wages. Moderate capital expenditure is required when entering the industry. Operators must fit-out shop fronts with refrigerated displays, cash registers and scales. Industry businesses also require adequate refrigerated storage facilities at the back of the store. Repair and replacement costs for these items, particularly refrigeration equipment, are ongoing capital expenses.The industry is also highly reliant on labour. 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 has determined the most important Key Success Factors for the Seafood Retailing 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

    Industry Products

    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 retail sales of seafood by mass retailers, such as supermarkets.

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

    About this Industry

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources

    Industry at a Glance

    Industry Statistics Snapshot
    Industry Structure
    Executive Summary

    Industry Performance

    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 pressure
  • Food service threat
  • 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

    • Products & Markets

    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 income quintiles
  • Fifth income quintile
  • First and second income quintiles
  • Chart: Major Market Segmentation for the Seafood Retailing Industry

    • International Trade
    Business Locations
    Chart: Business Locations by State

    Competitive Landscape

    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

    Major Companies

    There are no major players in this industry. This report includes analysis of other companies.

    Operating Conditions

    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

    Key Statistics

    Table: Industry Data for the Seafood Retailing Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

    • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data

    Jargon & Glossary

    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?

    The Seafood Retailing market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

    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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