The following are some of the key topics that are discussed in the report: •a detailed profile of Australia’s fish and seafood market •an overall and category-wise value and volume analysis of Australia’s fish and seafood market •consumer demographics, trends, and behaviors •the top four consumer trends that will influence fish and seafood product consumption •historical and forecast consumption in Australia’s fish and seafood market •a competitive landscape of Australia’s fish and seafood market •a landscape of distribution channels and packaging in Australia’s fish and seafood market ken research has released its most recent paper, which is titled “consumer and market insights: fish & seafood in australia.” This document offers insights on the shifting patterns and important challenges that are affecting the market for fish and seafood in Australia. This report contains an in-depth research of consumer behavior, trends in packaging, key competitors in the industry, and distribution patterns within the Australian fish and seafood sector. The preceding tendencies were analyzed based on the market’s six different categories, which 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), and frozen fish and seafood respectively. the current state of the Australian economy The economy of Australia is consistently ranked among the top economies in the world. It has had remarkable economic growth and has been free of recession for more than 25 years, making it one of the most prosperous countries in the world. Its location in the fastest growing part of the world, which is asia pacific, which provides 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; and competitive advantage are some of the factors that contribute to the robustness of the australian economy. despite the fact that it has been negatively impacted by the global recession, the Australian economy has a promising outlook. This is due to the economy being boosted by the depreciation of the exchange rate and energy prices; fta signed with korea, japan, and china; productive infrastructural investments; and improved governmental regulations and policies for businesses and organizations. Another significant trait exhibited by the Australian fish and seafood market that distinguishes it from the markets of other developed countries is the significant proportion of the fish and seafood market production that is exported. This production could otherwise be used to satisfy the ever-increasing demands of Australian consumers; however, it is instead used to satisfy international markets. The reason for this is because domestic customers are hesitant to pay high costs for the items they purchase. This has resulted in Australia being a net importer of seafood, with 70 percent of the country’s domestic demand being met by imports, the majority of which come from the countries of Thailand, China, and Vietnam, which together make up 52 percent of the total import. The majority of the imports are comprised of low-value, low-quality goods, while the majority of the exports are comprised of high-value, premium grade seafood. When viewed in the context of the present day, the overall amount of seafood output has stayed essentially unchanged over the course of the last 20 years, falling somewhere within the range of 280,000 to 220,000 tons each year. In recent years, there has been a consistent rise in the demand for fish and seafood due to the growing disposable income of consumers and an increased awareness of the need of maintaining a healthy lifestyle. During the period of 2010-2015, the fish and seafood market in Australia had a compound annual growth rate of 1.2 percent. Despite the fact that the category of fresh fish and seafood (counter) has the biggest market share, it is anticipated that the category of dried fish and seafood would exhibit the quickest development in the future. The most prevalent distribution method is via supermarkets and hypermarkets, and flexible packaging is the sort of material that is most often used for packing products. principal competitors in the Australian fish and seafood industry The presence of many leading international and domestic brands in the Australian fish and seafood market has ignited fierce competition among market players. This is especially the case as a result of the presence of a diverse range of foreign products, which is caused by the high volume of imports into the Australian fish and seafood market. Greenseas, john weston group, paramount seafood international ltd, safcol, thea sirena ltd, gold star seafood inc., holiland business, huon aquaculture, ocean blue seafood, talleys group limited, and tassal seafoods are some of the prominent competitors in the industry. Ocean Blue is the most popular brand name for chilled raw packed fish and seafood that has been processed items available on the market. the potential of the Australian market for fish and seafood The Australian market for fish and seafood looks to have a bright future ahead of it as a result of a number of market and non-market variables that have led to rising demand from consumers and have encouraged businesses to realign their operations in order to maximize profitability and market expansion. The demand for fish and seafood has been growing as a result of several factors, including an increase in disposable income, a greater awareness about healthy eating habits, and a recommendation from the Commonwealth government’s nhmrc that the intake of fish and seafood by the average Australian should be increased by 40 percent. In addition to the growing competition from imported seafood, the continued consumption of healthy seafood both now and in the future has encouraged suppliers to investigate methods for the maintenance of existing fisheries as well as the development of new sustainable and commercially viable fisheries. This has occurred despite the fact that competition from imported seafood is increasing. Because of these reasons, it is anticipated that the fish and seafood industry in Australia would expand, however little, both in terms of value and volume during the course of the next five years, which will span from 2015 to 2020. However, the category of dried fish and seafood is anticipated to have the quickest growth. This is in contrast to the fresh fish and seafood (counter) category, which is anticipated to dominate the market. As a result of Australia’s multi-cultural population, the demand for fish and seafood items that have been certified as halal or kosher is expected to rise. In the market for fish and seafood in Australia, hypermarkets and supermarkets, as well as flexible packaging, will continue to hold the dominant positions, respectively, for distribution channel and packaging material type. Please visit the following page for more information on coverage: https://www.kenresearch.com/food-beverage-and-tobacco/general-food/consumer-market-insights-fish-seafood-australia/31996-11.html reports that are connected to this one can be found at the following website: https://www.kenresearch.com/food-beverage-and-tobacco/general-food/consumer-market-insights-fish-seafood-greece/11191-11.html https://www.kenresearch.com/food-beverage-and-tobacco/general-food/consumer-market-insights-fish-seafood-hong-kong/11192-11.html Ankur Gupta, Head of Marketing and Communications at Ken Research may be reached at query@kenresearch.com or by calling +91-124-4230204.
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