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Commercial Fishing Industry Profile Excerpt
| SIC Codes: 0912, 0913, 0919 NAICS Codes: 11411 Page Length: 10-12 Last Quarterly Update: 7/7/2008 View Sample Industry Profile |
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The US commercial fishing industry includes about 25,000 commercial fishing vessels (CFVs) with combined annual revenue of $4 billion. Around 55,000 small, undecked vessels are also used to catch wild fish for economic gain, though the industry impact of undecked vessels is negligible. The industry is highly fragmented, and no major companies dominate.
The commercial fishing industry includes the wild catching of finfish, shellfish, and other marine products from their natural habitat. This industry doesn't include seafood processing or fish farming (aquaculture).
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. Average annual revenue per worker is $100,000.
PRODUCTS, OPERATIONS & TECHNOLOGY
Industry revenue is evenly split between shellfish and finfish. Major shellfish products are crab, shrimp, lobster, and scallop (each with 10 percent of industry revenue). Major finfish products include Alaskan pollock, salmon, halibut, and cod.
The term "fishery" can refer to a commercial fishing operation and to a region home to a large population of a specific fish; for example, the Alaskan pollock fishery.
The US lands nearly 12 billion pounds of fish and shellfish annually, around 4 percent of the world’s total. The US Exclusive Economic Zone ...
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