- Language: English
- 18 Pages
- Published: July 2012
- Region: India
Seafood Processing in the U.S.
- ID: 1052463
- October 2014
- Region: United States
- 10 pages
- First Research
Brief Excerpt from Industry Overview Chapter:
Companies in this industry clean and pack fresh seafood; can, freeze, and dry seafood; and process fish fats and oils. Major companies include Starkist and Trident Seafoods (both headquartered in the US); along with Maruha Nichiro Holdings (Japan), Pescanova (Spain), Thai Union (Thailand), and Icelandic Group (Iceland).
Global exports of seafood products total about $110 billion per year. China is the largest seafood producer; Japan, the US, and the EU are the largest markets. Countries in the Asia/Pacific region and Latin America are the fastest growing markets. China and India, in particular, are driving global seafood consumption due to increasing income levels.
The US seafood processing industry consists of about 550 companies with combined annual revenue of about $10 billion.
Some companies in the industry engage in seafood distribution as well as processing.
Demand is driven by trends in fish consumption. The profitability of individual companies depends on operational efficiencies. Large companies often enjoy the advantages of vertical integration and have economies of scale in purchasing and marketing. Small companies can compete effectively by specializing in niche markets. The US industry is concentrated: the 50 largest companies account for about 75 percent of revenue.
Imports of processed and canned seafood account for about 20 percent of the US market. Major sources of imports include Thailand, China, and Indonesia. Canada and the UK are major markets for US exports of processed and canned seafood, which account for about 4 percent...
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