Off the hook: New regulation and quotas are expected to benefit the industry

The Marine Fishing industry has performed relatively well over the past five years despite difficult operating conditions. At the beginning of the five-year period through 2017-18, restrictive quotas and low demand placed downward pressure on industry revenue. However, in recent years, increased health consciousness has boosted demand for seafood, as consumers have begun to realise the health benefits of omega-3 fish oils. Catch volumes have also increased as fishing regulations were changed. The volume and value of UK landings has increased over the past five years, which has supported industry growth. Over the five years through 2017-18, industry revenue is expected to increase at a compound annual rate of 1.5% to reach £994.7 million. This includes an expected increase of 1.4%...read more.

Industry Statistics & Market Size
Revenue
£994.7m
Annual Growth 13-18
1.5%
Forecast Growth 18-23
Profit
Employment
12,605
Businesses
6,250
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Increased quotas led to a rise in catch volumes and supported industry revenue growth
  • Growing health consciousness has boosted demand from seafood processors over the past five years
  • New quotas are expected to benefit the industry upon the UK’s withdrawal from the Common Fisheries Policy
  • Industry Report - Starting a New Business Chapter

    The barriers to entering the Marine Fishing industry are moderate. The biggest barriers potential operators face include obtaining a fishing licence and acquiring a suitable fishing vessel. These two requirements require a rather high level of investment, which deters potential operators from entering the industry.Although the industry has a low level of concentration, there are few competitive barriers to discourage new entrants. Some industry operators are price takers because of the significant bargaining power of downstream markets. Additionally, new entrants need to develop good working relationships with processors to succeed in the industry. A potential new entrant can benefit from joining a fish producer organisation to protect margins...purchase to read more.

    Additional Insights for the Marine Fishing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Marine Fishing Industry are

  • Ability to accommodate environmental requirements
  • Must have licence
  • Effective cost controls
  • IBISWorld analysts also discuss how external factors such as Landed price index of seafood and Seafood catch volumes in the Marine Fishing industry impact industry performance..

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    What's in this report

    What is the Marine Fishing Industry?

    Operators in this industry fish for wild seafood in oceanic and coastal waters. A range of gear is used to carry out these activities, including nets, lines and stationary traps.

    Industry Products
  • Demersal fish
  • Pelagic fish
  • Shellfish
  • Industry Activities
  • Line fishing
  • Trawling
  • Crustacean trapping
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Landed price index of seafood
  • Seafood catch volumes
  • Demand from seafood processing
  • Household expenditure on fish
  • Health consciousness
  • Public concern over environmental issues

  • Current Performance
  • Regulatory changes
  • Import competition
  • Fishy business
  • Prices and profit
  • Chart: Revenue Growth

  • Industry Outlook
  • Fishy diets
  • Regulatory changes
  • Going overboard
  • Swimming against the tide
  • Industry profit
  • Table: Marine Fishing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Marine Fishing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Seafood Processing
  • Seafood Retailers

  • Key Selling Industries
  • Boat Repair & Maintenance
  • Petroleum Refining

  • Products & Services
  • Shellfish
  • Demersal fish
  • Pelagic fish
  • Chart: Marine Fishing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Seafood processors
  • Wholesalers
  • Retailers
  • Chart: Major Market Segmentation for the Marine Fishing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesDepreciationOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Marine Fishing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Marine Fishing Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Marine Fishing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Marine Fishing Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Demersal Fish
  • Fish that live on or near the sea floor in sandy, muddy or rocky environments.
  • Discarding
  • The practice of returning unwanted fish into the sea after vessel quota has been reached.
  • Pelagic Fish
  • Fish that live in the upper waters of the sea.
  • Shellfish
  • Aquatic shelled molluscs found in saltwater and freshwater environments.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Marine Fishing market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Marine Fishing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Marine Fishing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Marine Fishing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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