Fish and Seafood - UK - September 2008

Abstract

The value market for fish and shellfish continues to grow and is now worth £2,295m, an increase of 15% since 2006. This value leap has been driven by premiumisation through value-added products and rising prices. Price per kilo of fish and shellfish products has increased by 9% over the same period.

Consumers' motivations to purchase are still health and taste, and the UK consumer has become more sophisticated and adventurous in the species and products they try.

Supply of fish and shellfish is increasingly complex, with both optional and mandatory restrictions on the capture of wild fish and a boom in fish farming. This has lead to a movement of sustainable supply and responsible fishing as the industry gets its house in order.

Key report themes

• The positive role of health in purchasing of fish and shellfish products.
• Rising price due to premiumisation, value adding and rising raw material costs.
• Sustainable and ethical supply and how this filters through to the consumer with greater clarity.
• The role of fish farming in the market and how it affects popular species.
• The low consumer base for seafood and how to increase frequency of consumption in this market.
• The improved quality of frozen fish and how this segment could drive sales in the future.

The market for fish comprises fresh or chilled fish; frozen fish and fish products; canned fish; and fish-based ready meals. Wet fish is sold loose over the counter, while chilled is pre-packed in the chilled cabinet. It also includes meals from Ready to Cook ranges.

The word ‘fresh' is used throughout this report in the context of how the products are offered in retail outlets, displayed on a slab or bed of ice from multiples and fishmongers. Thus ‘fresh' when applied to those species caught far from the UK, such as snapper and many Mediterranean fish, actually means freshly defrosted.

Excluded from this report are sales of fish to the catering sector, eg fish and chip shops, pubs, restaurants and hotels.

Seafood is sometimes used as an umbrella term covering both fish and shellfish, however for the purposes of this report ‘fish' refers to fin fish and ‘seafood' refers to shellfish.