Seafood Processing Report Summary

SIC Codes: 2077
NAICS Codes: 311710

Chapters Include

  • Industry Overview
  • Quarterly Industry Update
  • Business Challenges
  • Trends and Opportunities
  • Call Preparation Questions
  • Financial Information
  • Industry Forecast
  • Website and Media Links
  • Glossary of Acronyms

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 Ocean Beauty Seafoods and Trident Seafoods (both headquartered in the US), as well as Dongwon Industries (South Korea), High Liner Foods (Canada), Icelandic Group (Iceland), Marine Harvest (Norway), Maruha Nichiro Holdings (Japan), Nippon Suisan Kaisha (Japan), Pescanova (Spain), and Thai Union (Thailand).

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

Products, Operations & Technology

Major products include fresh and frozen seafood (about 80% of US revenue), and canned and cured seafood (about 15%). Other products include fish meal and fish oil, as well as inedible byproducts used for bait and animal food.

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