The number of processing units operating in the UK seafood processing market has reduced by 15% during the period 2010 to 2012. By the end of 2012, the volume of seafood processing units operating in the United Kingdom only totalled 325 according to the Sea Fish Industry Authority survey. In 2012 a total of 11.864 full time employees were working in the sea fish processing industry representing a 17% in employment numbers since 2010.
Volatile input prices, declining catch volumes and the recent economic downturn in the United Kingdom has resulted in a tough period for the UK seafood processing market. The major operators in this processing market can preserve, fillet, salt, freeze and transform seafood into products which are then ultimately purchased by supermarkets and specialist retailers.
The UK seafood processing market is forecast to be valued at £2.8 billion by the beginning of 2019 and during the period 2013 to 2018 the market is forecast to grow by 0.3% CAGR. The industry is struggling to maintain revenues with the falling stocks of wild fish and a higher level of imports. However, the development of fish farms is forecast to close the gap between supply and demand in the longer term. Seafood prices have risen sharply over recent years as stock levels fall short of demand for fish products.
The industry is reporting a period of consolidation in the seafood processing industry and the contraction of the market is expected in 2013 as revenues fall by 2.0% during this year.
For more information on the UK seafood processing market, see the latest research: UK Seafood Processing Market.
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