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Report Analyses US Seafood Markets

US - The US seafood processing and distribution industry consists of about 650 processors with annual revenue of about $9 billion and about 2,500 distributors with annual revenue of about $12 billion, says a new report.

The report, released by MarketResearch.com, says that many companies are involved in both industry segments.

Major companies include Ocean Beauty Foods, Red Chamber, Trident Seafoods, and the US division of Japan's Maruha Nichiro Holdings.

The industry is fragmented: the 50 largest processors account for about 45 percent of segment revenue and the 50 largest distributors account for about one-third of segment revenue.

According to MarketResearch.com, US demand is driven by trends in fish consumption. The profitability of individual companies depends on operational efficiencies. Large companies often enjoy the advantages of vertical integration and have economies of scale in purchasing and marketing. Small companies can compete effectively by specialising in niche markets.

The industry is capital-intensive: average annual revenue per employee is $225,000 for a typical processing facility and $500,000 for a typical seafood wholesaler.

the Fish Site Editor

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