Seafood Processing in the UK - Industry Market Research Report
Description
Seafood Processing in the UK
Seafood processors' revenue is projected to climb at a compound annual rate of 0.5% to £3.8 billion over the five years through 2023-24, including growth of 3.6% in 2023-24, when the average profit margin will be 3.3%. The COVID-19 pandemic punctured revenue in 2020-21 due to the closure of restaurants. Domestic demand conditions have been bleak, as the rising cost-of-living increased inflationary pressures and higher selling prices made seafood products less affordable. Despite this, increasing awareness of the health benefits of consuming seafood pushed back against severe market pressures. Fish catch volumes have declined because of rising costs for fishermen and quotas that constrained the supply of fish caught in foreign waters. Import competition has also intensified, curtailing expansion.
Industry operators process fish, molluscs, crustaceans and other seafood. The industry includes factory ships that process seafood, unless they also engage in fishing activities, and excludes the processing of products derived from marine mammals. The preparation of frozen-fish dishes and the manufacture of fish soups also fall outside the scope of the industry.
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.
Seafood processors' revenue is projected to climb at a compound annual rate of 0.5% to £3.8 billion over the five years through 2023-24, including growth of 3.6% in 2023-24, when the average profit margin will be 3.3%. The COVID-19 pandemic punctured revenue in 2020-21 due to the closure of restaurants. Domestic demand conditions have been bleak, as the rising cost-of-living increased inflationary pressures and higher selling prices made seafood products less affordable. Despite this, increasing awareness of the health benefits of consuming seafood pushed back against severe market pressures. Fish catch volumes have declined because of rising costs for fishermen and quotas that constrained the supply of fish caught in foreign waters. Import competition has also intensified, curtailing expansion.
Industry operators process fish, molluscs, crustaceans and other seafood. The industry includes factory ships that process seafood, unless they also engage in fishing activities, and excludes the processing of products derived from marine mammals. The preparation of frozen-fish dishes and the manufacture of fish soups also fall outside the scope of the industry.
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.
Table of Contents
42 Pages
- ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Major Markets
Globalisation & Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Pricing
Currency Rates
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