Seafood Processing Industry Overview

Excerpt from Seafood Processing Report

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 Alimentación (Spain), Thai Union (Thailand), and Icelandic Group (Iceland).

Competitive Landscape

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 industry is concentrated: the 50 largest companies account for about 75 percent of revenue.

Products, Operations & Technology

Major products include fresh and frozen seafood (85 percent of processing revenue); and canned and cured seafood (10 percent). Other products include fish meal and fish oil.