AUSTRALIA SEAFOOD MARKET

INTRODUCTION

Seafood is one the favourite foods of Australians. Its consumption rate is increasing each year. Almost 300,000 tonnes of edible and non-edible seafood are produced annually in Australia, thanks to a decade of steady growth.

While certain wild stocks continue to recover, the expansion of salmon and prawn aquaculture as well as increased tuna fishing is the main driver of this growth. In comparison to many other industrialised nations, Australia sells a sizable amount of its products to overseas markets rather than supplying the home market. 

The normal pattern of seafood trade has been disrupted in recent years by the COVID-19 pandemic and trade tensions with China, but generally speaking, Australian fisheries exports are dominated by high-value products like rock lobster, premium tuna species, and abalone, while imports are primarily made up of lower-value items like canned fish and frozen fillets.

According to estimates, 62% of Australia's edible seafood intake (weight-wise) comes from imports, mostly from Asia. Australia imports a significant amount of fish from Norway and New Zealand.

AUSTRALIA SEAFOOD MARKET SIZE AND FORECAST

The Australia seafood market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

AUSTRALIA SEAFOOD MARKETMARKET DYNAMICS

Recently, Primary Industries and Regions, South Australia (PIRSA) and the Australian Fisheries Management Authority (AFMA) jointly conducted an at-sea operation aimed at monitoring and ensuring compliance from Commonwealth vessels that are involved in the capture of Southern bluefin tuna in the waters off South Australia.

Operators headquartered in Port Lincoln have historically caught over 90% of Australia's annual total authorised catch. PIRSA's patrol boat Southern Ranger was employed in the combined operation to board many vessels that were involved in the purse seining, farm transfer, or towing process to Port Lincoln.

AUSTRALIA SEAFOOD MARKETRECENT PARTNERSHIP

After acquiring Eyre Peninsula Seafoods, Yumbah Aquaculture, an Australian company that produces abalone, mussels, and oysters, became the country's biggest mussel producer. 

With the combined growth of more than 2,600 tonnes annually from their mussel operations in Victoria and South Australia, Yumbah and EPS are currently Australia's leading mussel producers. 

The largest abalone producer in Australia, producing over 750 tonnes annually from four farms located in Tasmania, Victoria, and South Australia. 

The largest producer of oyster spit in Australia, producing over 150 million oysters a year from Tasmanian and South Australian hatcheries for farms in Tasmania, New South Wales, and South Australia. 

A prominent provider of farmed mature oysters, with an annual production of over 450,000 dozen from two locations in Tasmania with plans to invest in growing to 650,000 dozen; and

AUSTRALIA SEAFOOD MARKETRECENT DEVELOPMENT

An Australian plant-based guru introduced the Alt Seafood brand to the US market, offering items such as white fish fillets, prawns, crab sticks and sashimi made from tuna, salmon and calamari.

It's obvious that the future will either be filled with fishless fish or fishless oceans due to consumer demand for alternatives to conventional meat and dairy products and the fishing industry's numerous public health concerns, which range from heavy metal and mercury contamination to the overuse of antibiotics in factory fishing and threats to marine biodiversity.

Boldly has announced that it will be entering the US foodservice market this summer. The brand held its first-ever preview at Miami's SEED Food & Wine Festival, and it also collaborated on an exclusive dinner with Planta, a plant-based restaurant.

To make the most of the run-up to Christmas, Aldi Australia is reintroducing some of its best-selling frozen seafood items along with a few new ones. A classy dinner doesn't have to be expensive, and with this brand-new product by lowering the price of wild-caught lobsters for Australian consumers.

In this price range, there's a seafood option to fit any budget, with a guarantee that every dish will leave guests impressed and begging for seconds and even thirds.

AUSTRALIA SEAFOOD MARKETSYDNEY FISH MARKET - AUSTRALIA 

For local, national, and foreign tourists, Sydney Fish Market (SFM) is one of Australia's most valued culinary and tourism sites. It is the centre of the NSW seafood sector and the largest fish market in the Southern Hemisphere.

More than 300 Australian communities employ fishermen and aquaculturists who sell their products through retail stores and wholesale auctions. SFM aims to achieve the highest standards of quality and client satisfaction and is regarded as Australia's centre of excellence for seafood.

SFM has kept up a Hazard Analysis Critical Control Points (HACCP) system and quality assurance programme to guarantee that seafood sold is customer-satisfied, appropriately marked, and safe to consume.

AUSTRALIA SEAFOOD MARKETCOMPETITIVE LANDSCAPE

One of the biggest seafood businesses in Australia, KB Seafood Co. operates throughout the whole supply chain. They currently have over 800 active customers and supply over 30,000 tonnes of seafood annually to major supermarkets and premier foodservice operators.

KB Seafood Co., Just Caught Frozen Seafood, KB's, and By George are some of their brands; they currently have over 2,700 goods available on the market. Wild Oceans collaborates closely with seafood experts to bring the best product to the Australian market.

One of Australia's biggest producers and holders of quotas for tropical snappers is Australia Bay Seafoods, which runs trawlers in the Northern Territory and Gulf of Carpentaria.

The South Australian Fishermans Co-Operative Limited (S.A.F.C.O.L.) was founded in 1945 by a group of South Australian Fishermen to sell their catch; the first of its kind in Australia. Safcol is one of the world’s major suppliers of fresh, packaged and frozen seafood.

AUSTRALIA SEAFOOD MARKET THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many seafoods are manufactured per annum in Australia? Who are the sub-component suppliers in different regions?
2. Cost breakup of a Australia seafood and key vendor selection criteria
3. Where is the Australian seafood manufactured? What is the average margin per unit?
4. Market share of Australia seafood market manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture Australia seafood in-house
6. key predictions for next 5 years in Australia seafood market
7. Average B-2-B Australia seafood market price in all segments
8. Latest trends in Australia seafood market, by every market segment
9. The market size (both volume and value) of the Australia seafood market in 2024-2030 and every year in between?
10. Production breakup of Australia seafood market, by suppliers and their OEM relationship