UK SEAFOOD MARKET

INTRODUCTION

In the UK, the processing of seafood is a significant regional industry. Most varieties of seafood are processed in the UK, with mixed species factories being the most prevalent. Fish shipped from around the world and fish caught and landed in UK seas are used by processors. 

The UK is a nation that processes shellfish. The majority of the factories are tiny. Processing of salmon and pelagic fish (mackerel, herring) occurs almost exclusively in Scotland. 

UK SEAFOOD MARKET SIZE AND FORECAST

The UK 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.

UK SEAFOOD MARKETRECENT DEVELOPMENT

Plant-Based Seafood Was Introduced by Happiee to the UK Retail Market. The new products easily complement stir-fries, curries, ramen, paella, and pasta dishes. They are available in both plain and breaded varieties.

The vegan food is easy to make, takes flavour well, and works well in pan and air fryers. The breaded options are perfect for dipping because they have a light golden crumb and make for a crispy snack. This is a creative advancement, not just another burger or sausage on the plant-based food aisle. 

They take pride in the fact that customers can purchase real seafood substitutes without having to pay more than they would for the real thing.In order to reduce the dependence on the seas and ensure a sustainable future, they want to encourage a continuous shift towards environmentally friendly choices.

The objective is to actually transform the category by completing the gaps and ensuring that vegetarians and flexitarians can continue to enjoy their favourite foods and cuisines.

UK SEAFOOD MARKETMARKET DYNAMICS

The UK is a net importer of fish and seafood while being a large producer due to disparities in consumption patterns and types of seafood collected. The United Kingdom is an island nation with a long history of fishing both domestically and internationally.

Since the fourteenth century, UK vessels have been fishing in Icelandic and Norwegian waters since the country's fishing fleet was historically the largest and most advanced in the world.

There were 5,541 fishing vessels registered in the UK in 2022. Although there has been a 14% decrease in the last 10 years, the Gross Tonnage (GT) has stayed constant at 203 thousand tonnes.

A total of 640 thousand tonnes of sea fish worth £1.04 billion were landed by UK vessels in 2022. This is a 2% drop in quantity but a 13% increase in value over 2021. The primary factor driving the value increase is the rise in fish prices.

Fish is imported into the UK net. In 2022, the UK's crude fish trade deficit is expected to reach 316 thousand tonnes. Compared to 2021, when the difference was 322 thousand tonnes, this is less.

UK SEAFOOD MARKETInvestments made in Seafood Industry

Projects aimed at building new and improved sea fishing infrastructure as well as upskilling the workers and promoting jobs in seafood have been granted £3.9 million. 

The £100 million UK Seafood Fund, which supports modern infrastructure, science and innovation, skills and training, and export support, is the vehicle through which the funding is being disbursed. The fund's ultimate goal is to ensure the long-term viability and sustainability of the UK fisheries and seafood industry.

Building on the £1.1 million in funding from the first round earlier this year, the investment confirmed today includes approximately £3.8 million awarded to four projects in England, Scotland and Northern Ireland as part of the Skills and Training scheme.

These projects will help ensure that future generations have the skills necessary to succeed in the seafood industry by building new classrooms with specific functions, specialised technical training areas and improved facilities for blended

The UK Seafood Fund is a component of the government's larger initiative to support long-term economic growth and job creation in coastal areas across the nation.

UK SEAFOOD MARKETOther Factors impacting UK seafood Market 

A major factor in the Brexit referendum was fishing and control over UK waters. Proponents of Brexit said that the UK would be able to regain control over its Exclusive Economic Zone (EEZ) and fishing quotas.

Due to its longstanding opposition to the CFP, the UK sea fishing industry was generally in favour of exiting the EU. Similar to farming, the fishing business has deep cultural ties, which is why it became the primary area of contention during the Brexit negotiations. 

Retail sales skyrocketed as a result of COVID as people started hoarding food. Demand for products and services from numerous companies serving the home retail industry increased significantly. Sales of canned and frozen foods were a major factor in this. Sales of chilled fish increased less as consumers shifted their preferences to longer-lasting products. 

At the beginning of the lockdown, many fish and chip stores had to temporarily close because the level of business was too much for them to handle and they had to find other safe ways to operate.

Fish and chip stores were doing better by May 2020, although they were still operating at a significantly lower capacity. Many UK seafood businesses lost important export markets overnight as major countries that export seafood to the UK, such as China, Italy, Spain, and France, imposed lockdowns and other restrictions to halt the spread of Covid-19.

UK SEAFOOD MARKETTHIS REPORT WILL ANSWER FOLLOWING QUESTIONS

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