KN15104

KEY NOTE REPORT : Fish and Fish Products : May 2004

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This report covers:fish, and, fish products,Fresh, chilled, seafood,frozen seafood, canned, shellfish,fishing, fish farms, fishing fleet, landings, employment, legislation, Key trade Associations, Eu Cod Restrictions, Marine Stewardship Council, Farmed Salmon, health risks,

Companies and brand names covered include: Coldwater Seafood UK, Dawnfresh Seafoods, Findus, HJ Heinz, Lyons Seafoods, Princes, Seamark, F. Smales & Son, Unilever Ice Cream & Frozen Food, Uniq, Young's Bluecrest Seafood, Macrae Foods, Moray Seafoods, Northern Foods, Shetland Foods, Shetland Catch, Asda, Birds Eye, Scotpak,

TABLE OF CONTENTS

EXECUTIVE SUMMARY

In 2003, the retail fish and fish products market was valued at £1.98bn with sales growing by 4.5% at current prices on the previous year. With only limited price increases for fish in 2003, much of this growth has come from an escalation in the volume of fish consumed. Over the past 5 years, following the bovine spongiform encephalopathy (BSE) and foot-and-mouth scares, consumers have eaten less meat and meat products and have correspondingly increased their intake of fish and fish products.

The retail fish and fish products market can be divided into three main segments — fresh and chilled fish, frozen fish and canned fish. Fresh and chilled fish is the largest sector. Sales increased by 4.9% in 2003 helped by the improved availability of farmed fish in supermarkets and by a wider choice of species in these stores. Fresh salmon is the most popular product, although it suffered some sales decline in the early part of 2004 following concerns voiced in the media regarding dioxin levels in farmed salmon. Shellfish was a strong growth area in 2003. Frozen fish is the second-largest sector, accounting for around 36% of all sales in 2003.

Frozen fish experienced the weakest sales growth in 2003. Canned fish, representing almost 25% of all sales, is the smallest sector, but it experienced strong growth in 2003 with new product developments (NPDs) targeting the snacking and convenience markets.

Per capita consumption of fish in the UK has increased over the past decade as health and diet concerns have become more important to consumers. However, UK consumption per head is still below consumption levels in many other European countries, meaning potential remains for further market growth. On the supply side, the number of fishing businesses and UK fishing vessels is in long-term decline.

The fish processing sector has also experienced a period of consolidation in the past 5 years (1999 to 2003). The traditional fishing industry faces a further difficult period adjusting to new EU restrictions imposed on cod fishing in order to preserve stocks.

The UK fishing and fish processing industries are also facing pressures from the increasing volume of cheap fish imports. The fish farming sector continues to grow as the large multiple grocers, now the dominant force in the retailing of fish products, demand more regular supplies. Key Note predicts that sales of fish and fish products will grow in value terms in the next 5 years (2004 to 2008) as household consumption of seafood continues to increase. Growth will be driven by further NPD and by sales of an increasing range of species.

Text © 2004Key Note

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Last updated by Amanda Porteous June 2004