Seafood Preparation in Canada
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. Import growth amid an appreciating loonie will persistently undermine domestic demand for industry products while rampant global consolidation will streamline production for the largest players to preserve profitability.
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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