Commercial Fishing Industry Overview

Excerpt from Commercial Fishing Report

The US commercial fishing industry includes about 2,000 companies with combined annual revenue of more than $4 billion. No major companies dominate the industry, which is highly fragmented.

Competitive Landscape

Demand is driven by domestic trends in fish consumption and competition from imports. The profitability of individual companies depends on maximizing yield without depleting stocks. Industrial fisheries have advantages in fleet size and access to experienced crew members. Small-scale and “artisan” fisheries can compete effectively by serving a local market or by specializing in ultra-fresh fish. The industry is capital-intensive: average annual revenue per employee is about $690,000.

Products, Operations & Technology

Industry revenue is evenly split between shellfish and finfish. Major shellfish products are crab, shrimp, lobster, and scallops (each with about 10 percent of industry revenue). Major finfish products include Alaskan pollock, salmon, halibut, and cod.