A producer of a wide range of value-added frozen seafood products headquartered in Canada, a UK-based marketer of iconic brands in Europe, two Norwegian aquaculture groups and a Thai company specializing in tuna and frozen shrimp have been identified as the “top five” vendors serving the global fish and seafood market by Technavio. The London-based global technology research and advisory firm’s report, which ranks companies based on sales, also lists 14 other prominent purveyors of fishery products that are expected to significantly contribute to the sector’s expansion through 2020.
“Key findings of this study predict the global fish and seafood market will reach over US $258 billion in value by 2020. In 2015, the Asia-Pacific region dominated the market with a share of 40.01%. During the same period, China emerged as the leading seafood consuming country, accounting for a market share of over 10%, and this trend is likely to continue over the forecast period. Vendors will look to capitalize on the growth prospects of this market by selling processed and frozen seafood products using various e-commerce platforms during the forecast period,” said Vijay Sarathi, one of Technavio’s lead analysts for food and beverage research.
A brief description of the leading suppliers of value-added products to the global fish and seafood market follows:
High Liner Foods
Headquartered in Lunenburg, Nova Scotia, the Canadian company was founded in 1899. It is a key manufacturer and marketer of a large assortment of frozen seafood offerings in North America, ranging from ready meals and fish fillets to shrimp dishes and tilapia. Products are distributed through retail, foodservice and club store channels, and sales topped $1,001.5 million in 2015.
High Liner operates four manufacturing plants in the United States and one in Canada. The US factories are in New Bedford and Malden, Massachusetts; Newport News, Virginia; and Portsmouth, New Hampshire. Engaged in packing both private labels and name brands, its high profile of branded products in the US, Canada and Mexico includes High Liner, Fisher Boy, Sea Cuisine, C. Wirthy, Samband of Iceland, American Pride Seafood, Mirabel, FPI and Viking.
Iglo Group
Iglo Group, formerly known as Birds Eye, is headquartered near London Heathrow Airport in Feltham, England. The company employs 4,300 people in 15 countries and manufactures, markets and distributes branded frozen food products throughout Europe that run the gamut from frozen fish and seafood to vegetables, desserts, meat and poultry products, and an array of ready meals and side dishes.
Ranked as the leading seller of branded frozen food in the UK and on the continent, among its proprietary labels are Birds Eye, Findus and Iglo. The company was acquired by Nomad Foods Limited last year from Permira Holdings, a private equity firm that had owned it since 2006. A pioneer in the frozen food industry, the Iglo Group’s iconic Birds Eye roots date back to the 1930s in Britain.
Lerøy
The Lerøy Seafood Group, established in 1899 and headquartered in Bergen, Norway is the second largest producer of farm-raised salmon and trout in the world. It manufactures a range of over 2,500 frozen and non-frozen seafood items marketed in more than 70 countries. Key products include salmon, fjord trout, cod, saithe, mackerel, herring and shellfish. Exports weighed in at 220,000 tons last year, and total sales were just under NOK 12.580 billion.
Marine Harvest
Established in 1965, Marine Harvest is also headquartered in Bergen, Norway. Ranked as the world’s largest producer of farmed Atlantic salmon, the company employs 11,700 people, is represented in 24 countries, and is listed on the Oslo Stock Exchange (OSE) and the New York Stock Exchange (NYSE). In 2015 it rang up sales of NOK 28 billion. Active in all major salmon regions of the world, harvest volume topped 420,000 tons last year.
Among Marine Harvest’s subsidiaries are Amanda Foods Vietnam, Aquamerica International Holdings, Belisco Ehf, Brookside Products, Cod and Shellfish (Scotland), Ducktrap River of Maine, Englewood Packing, Heogland Salmon, Hoganess Salmon, Solimer, Jøkelsmolt, Lakeland Cairndow, Lakeland Smolt, Lakeland Unst, Marine Farm Technology, Marine Farms and Marine Harvest Appéti’Marine.
Thai Union Frozen Products
Established in 1988 and headquartered in Bangkok, Thai Union Frozen Products employs 11,000 people worldwide and reported record annual sales of THB 125.2 billion during 2015. The manufacturer and marketer of frozen and canned seafood products is the first company from Thailand to become a member of the Dow Jones Sustainability Emerging Markets Index. Among its brands are John West, Petit Navire, Hyacinthe Parmentier, Mareblu, and Chicken of the Sea.
For more information about the Technavio report, visit www.technavio.com or ring +44 208 123 1770.
