Fish & Fish Products

UK Market Overview 2007-2008 - Thirteenth Edition

Publication Date	January 2008
Publisher	Key Note
Product Type	Report
Pages	96
ISBN Number	978-1-84729-240-7
Product Code	KEY00078

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Summary

The UK market for fish and fish products increased in value by 35.5% at current prices between 2003 and 2007, from just under 2.4bn at retail selling prices (rsp) in 2003, to an estimated 3.25bn at rsp in 2007. Factors such as health, the growing range of convenience products and added-value products helped to drive sales. Per capita volume consumption rose by 7% between 2001/2002 and 2005/2006, with most of this increase occurring in 2005/2006, according to the Sea Fisheries Statistics 2006 from the Marine and Fisheries Agency. Particularly strong growth was seen in the areas of prepared fish and fresh fish, but per capita consumption of frozen fish appears to have slumped.

In addition, the value of the market has been driven by the relatively high rate of inflation in the sector. The cost of fish is becoming more expensive as global demand rises and as supplies of many species dwindle due to overfishing. In the chilled-fish sector, growth has come from added-value and breaded products, while in the frozen sector, it has come from natural and battered products. Sales have grown less quickly in the canned-fish sector, increasing by 6.5% in 2007.

In 2006, there were approximately 1,300 retail fishmongers (including mobile fish vans and market stalls) in the UK, however, around 89% of the value of fish sales was accounted for by supermarkets. The UKs remaining independent fishmongers appear certain to continue to decline in number, given the increasing demand for convenient pre-packed fish and the continued expansion of the major grocery multiples. Fish is also consumed in restaurants and from fish-and-chip shops, in take-away form. Only a small proportion of the catch is used to make fish oils and animal feeds.

The market for fish and fish products is dominated by large companies such as Youngs Seafood Ltd, Icelandic Group UK Ltd and HJ Heinz Company Ltd, while two companies dominating the sales of canned fish are John West and Princes Ltd. Private-equity group Permira Funds bought Unilevers frozen food interests, including its fish products, in August 2006.

Key Note expects the market for fish and fish products to continue to grow at well above the general rate of inflation between 2008 and 2012.

Continued interest in healthy eating will support sales, with manufacturers exploiting this trend by introducing value-added products that proclaim health benefits. Demand for convenience foods will also support the sale of value-added fish products from supermarkets chilled cabinets. Furthermore, global imbalances in supply and demand will fuel inflation in the sector, and these positive effects should more than offset discounting and 'buy one, get one free offers in areas such as fish fingers, frozen ready meals and some canned products.

Content

Executive Summary
1. Market Definition
Report Coverage
Market Sectors
- Fresh and Chilled Seafood
- Frozen Seafood
- Canned and Other Seafood
Market Trends
- Health
- Convenience
- Environmental Concerns
- Pricing Pressure
- Wider Sourcing
- Premium Products
Economic Trends
- Gross Domestic Product
- Table 1: Uk Gross Domestic Product at Current and
- Annual Chain-Linked Prices (m), 2002-2006
- Household Disposable Income
- Table 2: Uk Household Disposable Income per Capita (), 2002-2006
- Inflation
- Table 3: Uk Rate of Inflation (%), 2002-2006
- Unemployment
- Table 4: Actual Number of Unemployed Persons in The Uk (Million), 2002-2006
- Population
- Table 5: Uk Resident Population Estimates by Sex (000), Mid-Years 2002-2006
Market Position
- The Uk
- Table 6: Uk Household Expenditure on Fish and Fish Products, Meat
- and Meat Products and Total Food at Current Prices (m at Rsp), 2003-2007
- Table 7: Share of Uk Household Expenditure on Food Taken by Fish
- and Fish Products and Meat and Meat Products (%), 2003-2007
- Overseas
- Fish & Fish Products Contents
2. Market Size
The Total Market
- by Volume
- Table 8: per Capita Consumption of Fish and Fish Products in The Uk (Grams per Week), 2001/2002-2005/2006
- Figure 1: per Capita Consumption of Fish and Fish Products in The Uk (Grams per Week), 2001/2002-2005/2006 by Value
- Table 9: Uk Household Expenditure on Fish and Fish Products at Current Prices (m at Rsp), 2003-2007
- Figure 2: Uk Household Expenditure on Fish and Fish Products at Current Prices (m at Rsp), 2003-2007
- Table 10: Uk Expenditure on Fish and Fish Products by Sector by Value at Current Prices (m at Rsp and %), 2003-2007
- Figure 3: Uk Expenditure on Fish and Fish Products by Sector by Value at Current Prices (m at Rsp), 2003-2007
by Market Sector
- Fresh and Chilled Seafood
- Table 11: The Uk Fresh and Chilled Seafood Sector by Value at Current Prices (m at Rsp and %), 2003-2007
- Frozen Seafood
- Table 12: The Uk Frozen Seafood Sector by Value at Current Prices (m at Rsp and %), 2003-2007
- Canned and Other Seafood
- Table 13: The Uk Canned and Other Seafood Sector by Value at Current Prices (m at Rsp and %), 2003-2007
Overseas Trade
- Table 14: Uk Balance of Trade in Fish by Volume and by Value (000 Tonnes and m), 2002-2006
3. Industry Background
Recent History
Number of Companies
- Fishing and Fish Farms
- Table 15: Number of Uk Vat-Based Enterprises Engaged in Fishing and in The Operation of Hatcheries and Fish Farms by Turnover Sizeband (000, Number and %), 2007
- Fish Processing and Preserving
- Table 16: Number of Uk Vat-Based Enterprises Engaged in The Processing and Preserving of Fish by Turnover Sizeband (000, Number and %), 2007
Employment
- Table 17: Number of Uk Vat-Based Enterprises Engaged in The Processing and Preserving of Fish by Employment Sizeband (Number and %), 2007
Regional Variations in The Marketplace
- Fish & Fish Products Contents
Distribution
- Table 18: Uk Retail Sales of Fresh and Frozen Fish by Type of Outlet by Value (%), 2006
- Figure 4: Uk Retail Sales of Fresh and Frozen Fish by Type of Outlet by Value (%), 2006
How Robust Is The Market?
Legislation
Key Trade Associations
- British Marine Finfish Association
- Frozen at Sea Fillets Association
- Grimsby Fish Merchants Association
- National Federation of Fish Friers
- National Federation of Fishermens Organisations
- Scottish Fishermens Federation
- Scottish Salmon Producers Association
- Scottish White Fish Producers Association
- Sea Fish Industry Authority
- Seafood Scotland
- Shellfish Association of Great Britain
4. Competitor Analysis
The Marketplace
Major Players
- Dawnfresh Seafoods Ltd
- Findus Ltd
- Hj Heinz Company Ltd
- Icelandic Group Uk Ltd
- John West
- Lyons Seafoods Ltd
- Permira Funds
- Princes Ltd
- Seamark Plc
- Uniq Plc
- Youngs Seafood Ltd
Other Companies
- Moray Seafoods Ltd
- Northern Foods Plc
- Shetland Catch Ltd
- outside Suppliers
Marketing Activity
- Main Media Advertising Expenditure
- Table 19: Main Media Advertising Expenditure on Fresh and Frozen Fish (000), Year Ending September 2007
- Table 20: Main Media Advertising Expenditure on Canned Fish (000), Year Ending September 2007
- Fish & Fish Products Contents
5. Strengths, Weaknesses, Opportunities and Threats
- Strengths
- Weaknesses
- Opportunities
- Threats
6. Buying Behaviour
Consumer Penetration
- Fishmongers
- Table 21: Penetration of Consumers Shopping at Fishmongers
- When Buying Food and Drink (% of Adults), 2007
- Frozen Fish Fingers
- Table 22: Penetration of Consumers Using Frozen Fish Fingers in The Household (% of Main Shoppers), 2007
7. Current Issues
Health Concerns
- Consumers Still Not Eating Enough Fish, but Consumption Is Rising
- Omega-3 Claims Are Misleading, Says Which?
Environmental Issues
- Seafood Company Marine Harvest under Pressure
- Fish Could Vanish from British Waters within 20 Years
- New Product Development
8. The Global Market
Market Size
Europe
- Table 23: per Capita Consumption of Seafood in The Eu (Kilograms per Year), 1989, 2005 and 2030
9. Forecasts
Introduction
- The Economy
- Table 24: Economic Forecasts (000, % and Million), 2007-2011
- Forecasts 2008 to 2012
- Table 25: Forecast Total Uk Household Expenditure on
- Fish and Fish Products at Current Prices (m at Rsp), 2008-2012
Market Growth
- Figure 5: Growth in Total Uk Household Expenditure on
- Fish and Fish Products at Current Prices (m at Rsp), 2003-2012
- Fish & Fish Products Contents
Future Trends
- Demographics
- Table 26: Forecast Uk Resident Population by Sex (000), Mid-Years 2007-2011
- Market Segmentation and Technological Developments
- Merger and Acquisition Activity/Globalisation
10. Company Profiles
- Dawnfresh Seafoods Ltd
- Findus Ltd
- Hj Heinz Company Ltd
- Icelandic Group Uk Ltd
- Lyons Seafoods Ltd
- Princes Ltd
- Seamark Plc
- Uniq Plc
- Youngs Seafood Ltd
11. Further Sources
- Associations
- Publications
- General Sources
- Government Publications
- Bisnode Sources
- Understanding Tgi Data
- Number, Profile, Penetration
- Social Grade
- Standard Region
- Key Note Research
- The Key Note Range of Reports