Australia Fish & Seafood Market Driven by Premium Quality Products: Ken Research

Key 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 Australia Fish and Seafood market Trends 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:
https://www.kenresearch.com/food-beverage-and-tobacco/general-food/consumer-market-insights-fish-seafood-australia/31996-11.html

Related Reports:
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https://www.kenresearch.com/food-beverage-and-tobacco/general-food/consumer-market-insights-fish-seafood-hong-kong/11192-11.html

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