Marine Industries Global Market Analysis - Marine Institute

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92 MARINE INDUSTRIES GLOBAL MARKET ANALYSIS reported period, of over €100 billion in 2001 (due mostly to exchange rate fluctuations) but towards the end of the period the impact in the increase of aquaculture production leads to a slight upturn, but not to levels previously reached. Forecast average annual growth for 2005–2009 is therefore still negative, but marginally at –0.4%. If displayed in dollars, then the processing sector would show steady growth throughout the forecast period (see table 16.1). 16.3 EUROPEAN MARKET The European market is valued at €8.2 billion in 2004.The value-added culture is not spreading in a consistent way across Europe. In most Mediterranean countries people still have the desire to have a whole fish on their plate and processing can cut the value. 63 However, generally, value-added products are year by year taking a greater share especially within the chilled fish sector. From the available information, we estimate that within the EU, the UK has the largest processing industry, followed by Spain. 64 A considerable export market exists for processed seafoods. Norway’s international sales have been greatly aided by the establishment and development of a premium brand. Obviously far more detailed analysis would have to be performed to ascertain individual countries’ processing output accurately. As a result some individual countries’ values may be inflated or deflated. Challenges for smaller producers such as Ireland include the need to develop and/or invest in automation and increase production to achieve both economy of scale, volumes and continuity of supply required by the major European supermarket chains.The processing industry is an important employer in coastal communities within Ireland. Our estimates for Irish activity seem to correspond fairly closely with the BIM data.The Irish processing activity was worth €287 million in 2004. 65 Due to the major differences in labour costs, it is sometimes cheaper for European countries to export unprocessed products to the Far East and Eastern Europe for processing and re-import, rather than process at home. 63 Intrafish,‘Value Added Seafood Trends’, November 11 2004. 64 Eurostat 65 Based on DWL estimates.
MARINE INDUSTRIES GLOBAL MARKET ANALYSIS 93 16.4 2010 ONWARDS – THE LONG-TERM VIEW The combined factors of more women in full time employment, higher disposable incomes, sophistication of tastes and declining cooking skills mean value-added seafood sales have been increasing, creating more opportunities for the processing business. New species are also likely to be added to those used by processors. European processors will have to focus on the fresh/chilled market to remain profitable and compete with the frozen products from low cost countries further afield.This is good news for European processors, as chilled products are outselling frozen in some countries such as the UK. Increased processing efficiency is required, to both reduce labour contents and extract more meat per fish, therefore increasing productivity.
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Page 132: Strategic Planning and Development
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