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MARKET OVERVIEW

1.1 Definition and scope of the study

The fish and seafood market covers the consumption and distribution of seafood products, which includes fish, seafood and shellfish. This market is dominated by a few leading wholesalers, who supply several thousand independent retail players.

The fish consumption is increasing sharply worldwide, mainly as a result of increased production, but also due to other factors such as improving distribution channels.

At the national level, the market is particularly dynamic, driven by significant local consumption. Spaniards remain the largest consumers of seafood in Europe. The consumption of fish is equally important, making Spain a particularly buoyant market.

While the vast majority of fish consumed in Spain is imported, Spain's imports of seafood products by value continues to grow, with an increase of greater than 6% in 2018. Domestic production is hanging on by relying on consumer appeal for product innovation and organic fish and seafood.

 

1.2 A steadily growing global market despite the brakes on expansion

According to Allied Market Research, the seafood market is expected to grow at a CAGR of around *.*% during the period ****-**** to reach USD *** billion.

Globally, the market is benefiting from several factors that are driving demand. Some of the factors that are driving the demand are:

The constant increase of ...

1.3 The European market

In ****, the total value of European trade reached €**.** billion, an increase of **% compared to ****. This amount corresponds to trade flows with countries outside of the EU on the one hand, and trade between Member States on the other hand. Intra-EU exports were the main contributors to the sector's growth.

Extra-European imports ...

1.4 A dynamic national market

The Spanish market for fish and seafood products was worth €*.** billion in **** [***].

The trend is towards an increase in the share of frozen and chilled fish, to the detriment of fresh fish, which still accounts for **% of sales by value [***].

Breakdown of fish and seafood sales by type (***) Spain, ****, in % Source: ...

1.5 Foreign trade

By observing the countries to which Spain exports, the majority of these are concentrated in three countries, italy, France and Portugal which account for nearly three-quarters of Spain's exports. 

Main export destinations for fish and seafood products Spain, ****, in % Source: ****

In contrast to exports, which were particularly concentrated in three countries, ...

1.6 The impact of Covid-19 on fish consumption in Spain

The seafood sector, like most industries, faced a negative demand outlook and a number of supply constraints. With the closure of restaurants due to lockdown restrictions, foodservice demand collapsed, while retail sales were extremely volatile. [***]

Demand has dropped dramatically across the board and prices have fallen for many species, including those ...

ANALYSIS OF THE DEMAND

2.1 High household consumption

Portugal is by far the largest EU country in terms of per capita consumption. In ****, its level of apparent consumption was more than twice that of the EU. The graph below excludes out-of-home consumption. According to the report of the european observatory for fishery and aquaculture products, the Spaniards are the ...

2.2 Out-of-home consumption

The table below shows the consumption of fishery and aquaculture products outside the home in Spain: a distinction is made between the consumption of processed and unprocessed products.

Source: ****

Processed products include shelf-stable products, frozen products and chilled products. In Spain, **% of processed products consumed outside the home are shelf-stable products, ...

2.3 Spanish preferences

**% of Spaniards say they eat fish twice a week, and **% at least once a week. However, this high consumption of fish does not mean that Spaniards eat less meat than their European neighbours. The average Spaniard consumes *** grams of meat per day, according to the Ministry of Agriculture, which puts them ...

MARKET STRUCTURE

3.1 Organization of the market players

In ****, there were **** businesses registered under CNAE code **** (***). The Wholesale of fish, seafood and other food products sector had a total turnover of €**,** billion.

The major players in this market in Spain are as follows:

Source: ****

On the other hand, according to a report from the Spanish Ministry of Agriculture, Fisheries ...

3.2 Distribution channels

There are different distribution channels for fishery products:

retail (***) commercial catering (***) collective catering (***).

The following graph illustrates the distribution of fish and seafood sales by different channels. 

Sales channels for fish in Spain Spain, ****, in % Source: ****

Retail sales are broken down by distribution channel as follows:

Fish sales distribution by channel Spain, ...

ANALYSIS OF THE OFFER

4.1 The different types of seafood

The Spanish seafood market relies heavily on imports. According to Global Trade Tracker, the main products imported by Spain in **** are the following:

frozen shrimp; frozen cuttlefish and squid; atlantic tuna (***); frozen octopus; frozen yellowfin tuna; fresh or chilled salmon from the Atlantic and the Danube; frozen hake fillets; fresh or ...

4.2 Overview and evolution of product prices

Evolution of average price of fish in Spain by type Spain, ****, in € / kg Source: ****

The European Commission gives a fairly detailed evolution of the prices of several seafood products. The following table can then be drawn up to show the evolution of prices for the four products that are among the ...

4.3 Certified products - example of MSC certification

There are different certifications registered by the EU in the aquatic sector: they may concern Geographical Indications (***).

In Spain, there is a protected designation of origin for mussels, and * protected geographical indications for the following species: Tuna (***), Tuna, Mackerel.

Among the existing sustainable fishing certifications, the MSC (***) is one of the ...

REGULATION

5.1 Regulatory framework

European fisheries policy

Since ****, the European Fisheries Policy (***) has been responsible for regulating and organising the entire fisheries sector. Several reforms have been introduced, the most recent of which was implemented on * January **** er january ****.

According to the European Commission, the CFP has four main policy areas:

fisheries management; international politics; markets ...

POSITIONING OF THE ACTORS

6.1 Segmentation

  • Nueva Pescanova
  • Distribuidora Mariscos Rodriguez - Dimarosa
  • Grupo Profand
  • Iberica de Congelados
  • Mascato
  • Grupo Jealsa Rianxeira
  • Grupo Calvo
  • Frinsa del Noroeste
  • Grupo Conservas Garavilla
  • Ricardo Fuentes e Hijos

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Method

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Analysts 1 sector analyzed
in 40 pages
Method
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Analysts

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Data

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Method

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Analysts

Hugo S.

chargé d'études économiques, Xerfi

Hugo S.

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Mathieu Luinaud

Associate Consultant

Mathieu Luinaud

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Education Formation
Robin C.

PhD Industrial transformations

Robin C.

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Pierre D.

Analyst

Pierre D.

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Arnaud W.
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Ross Alumni Club France

Arnaud W.

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Amaury de Balincourt
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Analyste de marché chez Businesscoot

Amaury de Balincourt

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Pierrick C.

Consultant

Pierrick C.

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Maelle V.

Project Finance Analyst, Consulting

Maelle V.

Héloise Fruchard

Etudiante en Double-Diplôme Ingénieur-Manager Centrale

Héloise Fruchard

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Imane E.

EDHEC

Imane E.

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Vincent D.

Auditeur

Vincent D.

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Eva-Garance T.

Eva-Garance T.

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Michela G.

Market Research Analyst

Michela G.

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Azelie P.

Market Research Analyst @Businesscoot

Azelie P.

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Cantiane G.

Market Research Analyst @Businesscoot

Cantiane G.

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Jules D.

Consultant

Jules D.

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Alexia V.

Alexia V.

Emil Ohlsson

Emil Ohlsson

Anna O.

Anna O.

Gabriel S.

Gabriel S.