|Last Quarterly Update:||1/30/2017|
|SIC Codes:||0912, 0913, 0919|
|Industry Overview||Trends & Challenges||Industry Forecast|
|Quarterly Industry Update||Call Prep Questions||Website & Media Links|
|Business Challenges||Financial Information||Glossary & Acronyms|
Companies in this industry catch wild finfish, shellfish, and other marine products from their natural habitats. Major companies include American Seafood (based in the US), Clearwater Seafoods (Canada), Maruha Nichiro (Japan), and Nippon Suisan Kaisha (Japan). Large commercial fishing companies tend to be vertically integrated, encompassing fishing, freezing, and processing operations; smaller companies may have fishing operations only.
Global exports of seafood products total about $135 billion. Japan, the US, and the EU are the major markets for seafood. Some of the world's largest seafood producers and exporters are in developing countries, with China being the largest.
The US commercial fishing industry includes about 2,200 companies with combined annual revenue of about $5 billion.
Seafood processing and distribution and aquaculture (fish farming) are covered in separate industry profiles.
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 US industry is highly fragmented: more than 90% of companies operate a single establishment and have four or fewer employees.
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% of industry ...
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