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Commercial Fishing and Seafood Distribution Industry Profile Excerpt
| SIC Codes: 0912, 0919, 2091, 5146 NAICS Codes: 1141, 3117, 42446 Page Length: 10-12 Last Quarterly Update: 6/30/2008 View Sample Industry Profile |
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The US fishing and seafood industry consists of 25,000 commercial fishing vessels; 700 fish processors, and 2,800 distributors, with a final commercial value of $14 billion. Most companies are privately held or are divisions of larger corporations, such as Bumble Bee Seafoods; Del Monte (owns StarKist Foods); and Chicken of the Sea. Most vessels of the US commercial fishing fleet are independently owned. Annual revenue is about $4 billion for commercial fishers, $7 billion for fish processors, and $14 billion for distributors. The industry is highly concentrated at the processing stage and relatively fragmented at the distribution end. The 50 largest processors control about 70 percent of that market segment. The 50 largest distributors control less than 40 percent of that segment.
COMPETITIVE LANDSCAPE
Consumer demand and changing tastes drive the industry. The profitability of individual operations depends on volume. Small companies can compete effectively with large ones in specialty or local markets. Processing plants that produce fresh and frozen products typically have between 50 and 250 workers and average annual revenue of $160,000 per worker. Canning operations are usually smaller, with fewer than 100 workers, but with higher throughput, about $200,000 of annual revenue per worker.
PRODUCTS, OPERATIONS & TECHNOLOGY
Commercial fishers catch shellfish (shrimp, crab, lobster, clams, and scallops) and finfish. In a recent typical year, total US "landings" were $570 million of shrimp, $380 million of crab, $270 million of lobster, $240 million of pollock, ...
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