Last Updated 12 Sep 2020

The Market for Fish and Sea Foods

Category Market
Essay type Research
Words 488 (1 page)
Views 244
Table of contents

This report is looking at the market for fish and seafood which will include figures and information relating to 'finish' and 'shellfish' in the form of fresh or chilled fish, frozen fish and fish products, canned fish, and fish-based ready meals available in the retail shops for consumer use. This report will not include fish sales to the catering trade, restaurants, pubs, fish and chips shops, and hotels. According to Mintel (2008), this market is worth £2,295m.

This market is growing not only in terms of its overall value which has grown 15% since 2006 but also in terms of the per kilo prices being charged for fish and seafood which have risen 9% since 2006. However, the volume of fish and seafood sold has only risen 4% since then. Due to the sales volume being low, the prices have risen. The sales volume has been low because of the limited availability of sustainable fish and global market conditions.

Major Players

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Although own label fish and seafood providers altogether take the largest share of the market at 49% in frozen fish and fish-based (finfish) ready meals supply and 54% shares in frozen seafood (shellfish), when it comes to individual suppliers, Young's Seafood company, owned by Lion Capital, is the single largest provider of fish and seafood products, with 25% share of the market in frozen fish and fish-based ready meals supply and 24% share in frozen seafood supply in 2007.

Bird's Eye, owned by Permira, commands the second place in the market share for frozen fish and fish-based (finfish) ready meals with 21% and 19% share in the seafood market in 2007. Other brands only take up 5% of the frozen fish and fish-based ready meals market and 3% of the frozen seafood market in 2007. Companies offering other brands are Johnson's Seafarms, Lyons Seafood, and The Big Prawn Company. Young's, under their own brand name, provide a chilled and frozen fish range of specialty fish, seafood meals, coated fish, and natural fish.

Additional brands in the chilled section are Great Grimsby and Frssenburgh Smokehouse. The Chip Shop brand is in the frozen category selling fish fillets. Bird's Eye offer Captain Birds Eye fish fingers, Eat Positive range of frozen ready meals for health-conscious consumers, the Simply variety of freshly frozen fish, and Steamfresh, which is a range of ready meals and prepared vegetables which can be steam cooked and are microwaveable.

What fish is bought most often? The kind of frozen fish bought most often in 2007, according to Mintel (2008), is breaded fish with sales of 41% of all frozen fish sales. The least bought was natural fish taking only 15% of the sales figures. However, compared to the figures of 2003, the breaded fish has seen 21. 8% decline in sales whereas natural fish have enjoyed 62. 4% rise. Therefore, we can say that natural fish is gaining popularity.

References:

  1. Fish and Seafood - UK - September 2008 - Market Research Report. https://reports.mintel.com/display/227750/#

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The Market for Fish and Sea Foods. (2018, Sep 11). Retrieved from https://phdessay.com/the-market-for-fish-and-sea-foods/

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