The market for fish and sea foods Essay
This report is looking at the market for fish and sea foods which will include figures and information relating to ‘fin fish’ and ‘shell fish’ in the form of fresh or chilled fish, frozen fish and fish products, canned fish and fish-based ready meals available in the retail shops for consumer use. This report will not include fish sales to the catering trade, restaurants, pubs, fish and chips shops and hotels. According to Mintel (2008), this market is worth i?? 2,295m.
This market is growing not only in terms of its overall value which has grown 15% since 2006 (Mintel 2008), but also in terms of the per kilo prices being charged for fish and sea foods which have risen 9% since 2006 (Mintel 2008). However the volume of fish and sea foods sold has only risen 4% since then. (Mintel 2008). Due to the sales volume being low, the prices have risen. The sales volume has been low because of the limited availability of sustainable fish and the global market conditions. Major players:
Although, own label fish and seafood providers altogether take the largest share of the market at 49% in frozen fish and fish-based (fin fish) ready meals supply and
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Bird’s Eye, owned by Permira, commands second place in the market share for frozen fish and fish-based (fin fish) ready meals with 21% and 19% share in the sea foods market in 2007. (Mintel 2008). Other brands only take up 5% of frozen fish and fish-based ready meals market and 3% of frozen seafood market in 2007 (Mintel 2008). Companies offering other brands are Johnson’s Seafarms, Lyons Seafood and The Big Prawn Company. Young’s, under their own brand name, provide chilled and frozen fish range of specialty fish, seafood meals, coated fish and natural fish.
Additional brands in the chilled section are Great Grimsby and Frssenburgh Smokehouse. The Chip Shop brand is in the frozen category selling fish fillets. Bird’s Eye offer Captain Birds Eye fish fingers, Eat Positive range of frozen ready meals for health conscious consumers, the Simply variety of freshly frozen fish and Steamfresh, which is a range of ready meals and prepared vegetables which can be steam cooked and are microwaveable.
What fish is bought most often? The kind of frozen fish bought most often in 2007, according to Mintel (2008), is breaded fish with sales of 41% of all frozen fish sales. The least bought was natural fish taking only 15% of the sales figures. However, compared to the figures of 2003, the breaded fish has seen 21. 8% decline in sales whereas natural fish has enjoyed 62. 4% rise. Therefore, we can say that natural fish is gaining popularity.