|Last Quarterly Update:||11/11/2013|
|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 habitat. No major companies dominate the industry.
Global exports and imports of seafood products each total about $110 billion. Japan, the US, and the EU are the major markets for seafood. Seafood consumption and international trade are expected to grow modestly as the global economy recovers and consumer expenditures increase.
The US commercial fishing industry includes about 2,000 companies with combined annual revenue of more than $5 billion.
Seafood processing and distribution and fish farming (aquaculture) 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 percent 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 percent of industry revenue). Major finfish products include Alaskan pollock, salmon, halibut, and cod. The US Exclusive Economic Zone (EEZ), the federal territory that extends 200 miles offshore, accounts for the vast majority ...
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