Australia Fish & Seafood Market Driven by Premium Quality Products: Ken Research
by Ashish Kumar Market ResearcherKey Topics Covered in the Report
·
Detailed
profile of Australia’s Fish & Seafood market
·
Overall and category wise value and volume
analysis of Australia’s Fish
& Seafood market
·
Consumer demographics, trends and
behaviours
·
Top four consumer trends which will
influence Fish & Seafood products consumption
·
Historic and forecast
consumption in the Australia’s Fish
& Seafood market
·
Competitive landscape
of the Australia’s Fish
& Seafood market
·
Distribution channels
& Packaging landscape of the Australia’s
Fish & Seafood market
Ken Research announced its latest publication on, “Consumer and Market Insights: Fish & Seafood in Australia”, offering insights on the changing trends and key issues within the Australian Fish and Seafood market. The publication includes an insightful analysis of consumer behavior, packaging trends, leading players and distribution trends within Australian Fish and Seafood market. The analysis of the aforementioned trends has been done on the basis of six categories within the market that are Ambient Fish and Seafood, Chilled Raw Packaged Fish and Seafood – Processed, Chilled Raw Packaged Fish and Seafood - Whole Cuts, Dried Fish and Seafood, Fresh Fish and Seafood (Counter), Frozen Fish and Seafood.
Economic Environment of Australia
Australian
economy is one of the largest economies in the world. It has registered
impressive economic performance and has not undergone any recession for over a
period of 25years. The robustness of the Australian economy can be ascribed to
various factors, apart from abundant natural resources, such as its location in
the fastest growing part of the world i.e. Asia Pacific, providing for
advantageous growth opportunities in the region; economic resilience on account
of strong political and economic connection with the emerging Asian markets as
well as with the developed regions of the world like Europe, North & South
America along with Middle East and Africa; competitive and diverse market structure
with skilled workforce encouraging investments from abroad and external trade.
Despite
being negatively affected by global recession, the Australian economy has a
promising outlook on account of the economy being boosted by depreciation of
the exchange rate and energy prices; FTA signed with Korea, Japan and China;
productive infrastructural investments and improved govt. regulations and
policies for business and organisations.
Another
important feature exhibited by the Australian Fish and Seafood market that
differs it from other developed countries, is that significant proportion of
the Fish and seafood market production, which could otherwise be used to meet
the growing demands of Australian consumers, are exported. The reason being,
unwillingness of domestic consumers to pay high prices for the products. This
has led to Australia being a net importer of seafood with 70% of domestic
demand being imported mainly from Thailand, China and Vietnam, together
accounting for 52% of the total import. The exports are mainly dominated by
high-value premium quality seafood while imports include mainly low-value cheap
products.
Looking at
the current landscape, over the last 20 years, the total level of seafood
production has remained relatively constant ranging between 280,000 and 220,000
tonnes per annum. Recent years have seen steady increase in fish and seafood
demand on account of rising disposable income of consumers and health
awareness.The Fish & Seafood market in Australia registered a CAGR of 1.2% during
2010-2015.While the Fresh Fish & Seafood (Counter) category has the largest
market share, the Dried Fish & Seafood category is expected to show fastest
growth in future.Hypermarkets & Supermarkets is the leading distribution
channel and Flexible Packaging is the most commonly used packaging material
type.
Major Players in Australian Fish & Seafood Market
Australian
Fish and Seafood market is marked by the presence of many leading international
and domestic brands, which has set off fierce competition among market players especially
from the presence of a wide array of foreign products, as a result of the large
amount of imports to the Australian Fish & seafood market. Some of the
major market players are: Greenseas, John Weston Group, Paramount Seafood
International Ltd, Safcol, Thea Sirena Ltd, Gold Star Seafood Inc., Holiland
Company, Huon Aquaculture, Ocean Blue Seafood, Talleys Group Limited, and
Tassal Seafoods.Ocean Blue is the leading brand of Chilled Raw Packaged Fish
& Seafood - Processed products in the market.
Australia’s Fish and Seafood Market Prospects
The future
outlook for the Fish and Seafood market of Australia appears to be promising
owing to various market and non-market factors leading to increasing demands
from consumers as well as encourage companies to align their business
activities for higher profits and growth of the market. With rising disposable
income, increasing awareness about healthy food habits and Commonwealth Govt.’s
NHMRC’s recommendation for average Australian’s intake of fish and seafood to
be increased by 40%, the demand for fish and seafood has been increasing. To
continue with the consumption of healthy seafood now and in future, apart from
increasing competition from imported seafood, has encouraged suppliers to
explore methods for the maintenance of existing fisheries as well as
development of new sustainable and commercially viable fisheries.
As a
result of these factors, Australia’s Fish & Seafood market is expected to
grow in value as well as volume terms over the next five years i.e. 2015-2020,
although marginally.Among various categories, Fresh Fish & Seafood
(Counter) is expected to dominate the market while Dried Fish & Seafood
category is forecasted to register fastest growth.
Australia being a multi-cultural society, popularity of Halal and Kosher
certified Fish & Seafood products will increase. Hypermarkets &
supermarkets, and Flexible packaging will continue to lead the distribution
channel and packaging material type in the Australian Fish & Seafood
market.
To know more on coverage, click on the link below:
Related Reports:
Contact:
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-124-4230204
Sponsor Ads
Created on Dec 31st 1969 18:00. Viewed 0 times.