Krillin' it: Expansion of export sales and rising health consciousness will bolster revenue

The Seafood Preparation industry in Canada has grown strongly over the past five years from a low base in 2013. IBISWorld expects industry revenue to increase over the five years to 2018. Expansion of export sales and rising health consciousness among Canadian consumers have bolstered industry revenue. Seafood products tend to be more expensive than other sources of animal protein, which means that consumers often choose alternative sources of protein. As levels of disposable income have grown over the past five years, more consumers have been able to afford more prepared seafood products...read more.

Industry Statistics & Market Size
Revenue
$7bn
Annual Growth 13-18
7.9%
Forecast Growth 18-23
Profit
Employment
34,682
Businesses
589

Industry Threats & Opportunities

  • The higher profit margins of value-added products have kept industry revenue afloat
  • Demand for prepared seafood is expanding particularly in East and South Asia
  • Waning export activity will not be able to sustain the industry as it has
  • Industry Report - Starting a New Business Chapter

    Barriers to entry in the Seafood Preparation industry in Canada are low but ultimately depend on the scale of production the entrant pursues. Nonemployers and other very small operators are often seafood industry workers that have set up a processing facility convenient to a source of fish. These small operators may purchase fish and shellfish, rather than farm or catch it themselves, which they then eviscerate or shuck and then sell to nearby fish and seafood markets and distributors. Such small operations require almost no start-up costs and can begin with rudimentary equipment (such as specialized knives) and the knowledge of basic seafood processing techniques...purchase to read more.

    Additional Insights for the Seafood Preparation Industry

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

  • Marketing of differentiated products
  • Control of distribution arrangements
  • Supply contracts in place for key inputs
  • IBISWorld analysts also discuss how external factors such as Canadian-dollar effective exchange rate index and Demand from supermarkets and grocery stores in the Seafood Preparation industry impact industry performance..

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    What's in this report

    What is the Seafood Preparation Industry?

    This industry is involved in canning, smoking, salting, drying, freezing and packing fish and shellfish. Industry operators also eviscerate fish (remove parts from fish), shuck shellfish (remove their shells) and process fish and shellfish fats and oils. This industry also includes floating factory ships, also known as fish processing vessels, which are engaged in shipboard seafood processing. The term seafood processing is used to describe these activities as a whole.

    Industry Products
  • Fresh and frozen fish
  • Canned fish and other preserved fish
  • Seafood and other marine products
  • Industry Activities
  • Canning fish, crustaceans and mollusks
  • Manufacturing fresh and frozen seafood dinners
  • Freezing fish (e.g. blocks, fillets, ready-to-serve products)
  • Processing seaweed
  • Manufacturing marine fats, oils and meal
  • Shucking and packing fresh shellfish
  • Canning fish and shellfish soup
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Canadian-dollar effective exchange rate index
  • Demand from supermarkets and grocery stores
  • Per capita disposable income
  • Per capita seafood consumption
  • Price of red meat

  • Current Performance
  • Consumer demand
  • International trade
  • Consolidation
  • Chart: Revenue Growth

  • Industry Outlook
  • Trade: threats and trilateral trends
  • Fishing for scale
  • Table: Seafood Preparation Industry Revenue Outlook

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

  • Supply Chains
    Key Buying Industries
  • Animal Feed Production in Canada
  • Grocery Wholesaling in Canada
  • Fish & Seafood Wholesaling in Canada
  • Supermarkets & Grocery Stores in Canada
  • Full-Service Restaurants in Canada
  • Single Location Full-Service Restaurants in Canada
  • Caterers in Canada

  • Key Selling Industries
  • Agriculture, Forestry, Fishing and Hunting In Canada
  • Fish & Seafood Wholesaling in Canada

  • Products & Services
  • Fresh and frozen fish
  • Seafood and other marine products
  • Canned fish and other preserved fish
  • Chart: Seafood Preparation Industry Products and Services Segmentation

  • Demand Determinants
  • Price of seafood
  • Income
  • Health consciousness
  • Demand for seafood abroad

  • Major Markets
  • Exports
  • Fish and seafood wholesalers
  • Grocery stores and retail outlets
  • Food service industry
  • Chart: Major Market Segmentation for the Seafood Preparation Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Rent, utilities, depreciation, marketing and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Seafood Preparation

  • Basis of Competition
  • Internal competition
  • External competition

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

  • Industry Globalization
    Clearwater Seafoods Ltd., High Liner Foods Inc.,
  • Table: Clearwater Seafoods Ltd. - financial performance
  • Table: High Liner Foods Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Seafood Preparation 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 Preparation Industry
    Includes:
  • 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)
  • Per capita annual seafood consumption (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Aquaculture
  • The farming of aquatic organisms such as fish, crustaceans, mollusks and aquatic plants.
  • Floating Factory Ships
  • A fishing vessel equipped with seafood preparation capabilities so seafood can be processed and stored at sea at peak freshness.
  • Omega-3 Fatty Acid
  • A polyunsaturated fatty acid that is essential for good health and influences various metabolic pathways, resulting in lowered cholesterol and triglyceride levels.
  • Shellfish
  • A fisheries term for shellbearing mollusks and crustaceans.
  • What Our Customers Say

    Why buy this report?

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

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