Seafood Preparation in Canada
The Seafood Preparation industry has grown over the past five years. IBISWorld expects industry revenue to increase. 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. According to Statistics Canada, input costs have risen each year since 2012, which operators have passed down to consumers, strengthening revenue. The industry is expected to continue its growth over the next five years. Export growth will persistently support waning domestic demand for industry products while rampant global consolidation will streamline production.
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.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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