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
Market: Fish and Sea foods
About the market;
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 £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 54% shares in frozen seafoods (shell fish) (Mintel 2008), but when it comes to individual suppliers, Young’s Seafood company, owned by Lion Capital, is the single largest provider of fish and seafood products, with 25% share of the market in frozen fish and fish-based ready meals supply and 24% share in frozen seafood supply in 2007 (Mintel 2008).
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.
Estimated brand shares of frozen fish and fish-based ready meals, 2007
Mintel 2008
Estimated brand shares of frozen seafood, 2007
Mintel 2008
Of the 49% share in frozen fish and fish-based ready meals and 54% in frozen seafood, own label providers take up this share as shown in the chart below:
Mintel (2008)
Companies that provide own label products to retailers are Coldwater Seafood and Cumbrian Seafoods.