Aquaculture in Australia Industry Market Research Report Now Updated by IBISWorld

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Australia's Aquaculture industry has prospered over the past few years as it presents the most viable solution to the ongoing decline in global and domestic fish stocks. For this reason, industry research firm IBISWorld has updated its report on the Aquaculture industry in Australia.

IBISWorld Market Research

IBISWorld Market Research

Higher seafood retail prices and domestic seafood consumption should boost revenue.

Australia's Aquaculture industry has prospered over the past few years as it presents the most viable solution to the ongoing decline in global and domestic fish stocks. According to IBISWorld Industry analyst Suzannah Rowley, ‘the industry is expected to grow at an annualised 1.3% over the five years through 2012-13 as Australian ocean fishing production has fallen and global and domestic seafood consumption has risen’. Industry profitability has benefited from an overall increase in retail prices for seafood, though this did cause temporary declines during the height of the global financial crisis as consumers cut spending on more expensive seafood items in favour of poultry and other cheaper meats. In 2012-13, a jump in seafood retail prices and higher domestic seafood consumption are expected to boost revenue by 6.9% to reach $1.1 billion.

Global seafood consumption has risen over the five years through 2012-13 due to rapid population and income growth across developing countries in Asia. ‘Unfortunately, the industry has failed to capitalise on these growth opportunities due to the appreciation in the Australian dollar, which has made exports less competitive on the global market’, says Rowley. This stifled export growth over the five-year period has also meant that operators have not been able to take advantage of Australia's strong reputation for producing superior quality seafood that commands high prices abroad. The industry is expected to expand rapidly over the five years through 2017-18 as environmental policies are implemented to ensure the replenishment of fish stocks and as seafood consumption increases. The depreciation of the Australian dollar should enable industry operators to meet growing demand for seafood abroad, especially given the ongoing population and income growth across Asia. Overall, industry revenue is expected to increase in the five years through 2017-18.

The Aquaculture industry in Australia has a low level of market share concentration. Industry establishments generally operate on a small scale. Industry concentration has fluctuated over the five years through 2012-13, mainly in line with the performance of the industry's largest player, the Tassal Group. Other major players in the industry are Paspaley Pearling Company and Stehr Group.

For more information, visit IBISWorld’s Aquaculture report in Australia industry page.

Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau

IBISWorld industry Report Key Topics

Operators in this industry breed and farm fish, molluscs and crustaceans.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.

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Gavin Smith
IBISWorld
(310) 490-5973
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