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Seafood Processing and Distribution Industry Profile Excerpt
| SIC Codes: 2077, 2091, 2092, 5146 NAICS Codes: 31171, 424460 Page Length: 10-12 Last Quarterly Update: 7/7/2008 View Sample Industry Profile |
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The US seafood processing and distribution industry consists of 600 fresh and frozen seafood processors; 100 canneries; and 2,500 distributors; with a final commercial value of $12 billion. Annual revenue is around $9 billion for fish processors and $12 billion for distributors, although many companies are involved in both businesses. Major companies include Red Chamber, Trident Seafoods, Tri Marine International and the US business divisions of Maruha Nichiro Holdings. The industry is relatively fragmented: the 50 largest processors control about 45 percent of its total market and 50 largest wholesalers account for one-third of the distribution market.
This industry includes the processing and wholesaling of both wild-caught and farm-raised seafood. It doesn't include commercial fisheries or aquaculture operations.
COMPETITIVE LANDSCAPE
Demand is driven by domestic trends in fish consumption and, for processors, competition from imports. The profitability of individual companies depends on throughput and route efficiencies. Large companies have advantages in vertical operations and economies of scale. Small companies can compete effectively by specializing in sustainable practices or servicing a local market. Average revenue per employee is $225,000 for a typical processing facility and $500,000 for a typical seafood wholesaler.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products include frozen fish (30 percent of processing revenue); frozen shellfish (20 percent); fresh fish and shellfish (15 percent); and canned seafood (15 percent). Other products include industrial goods like fish meal and fish oil.
Important frozen fish products are groundfish (cod, haddock, ...
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