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2024 U.S. Industry Statistics & Market Forecast - Seafood Product Preparation and Packaging


Market Size & Industry Statistics

The total U.S. industry market size for Seafood Product Preparation and Packaging: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics        2019        2020        2021        2022        2023
Market Size
(Total Sales/Revenue)


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Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Average Revenue Per Employee
Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data



Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.





Forecast / Industry Outlook 2024 2025 2026 2027 2028
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Industry Insights

The seafood canning industry is currently facing a number of key trends that are shaping its future developments. One of the most notable trends is the increasing demand for sustainable and eco-friendly practices throughout the industry. This includes a focus on using more responsible sourcing for seafood products, reducing waste, and minimizing the environmental impact of manufacturing and distribution processes.

Another important trend is the rise of e-commerce within the industry, as consumers increasingly look to purchase seafood products online. This trend is driving the development of new distribution models and supply chain strategies, as well as more sophisticated digital marketing and customer engagement efforts.

Technological innovations are also playing a major role in the seafood canning industry, with advances in food processing and preservation techniques leading to higher quality and more consistent products. This is coupled with innovations in packaging materials and design, which are enabling greater convenience and portability for consumers.

Finally, regulatory changes are exerting a significant influence on the seafood canning industry, with increased scrutiny of food safety and quality standards leading many manufacturers to implement more rigorous testing and quality control procedures. These trends are likely to continue to shape the industry in the years ahead, as companies adapt to changing consumer demands and wider societal pressures to reduce environmental impacts and improve food safety and sustainability.



U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

Industry AveragePercent of Sales
(Industry Benchmark)
Total Revenue

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Operating Revenue
Cost of Goods Sold
Gross Profit

Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit
Net Income
 
Source: AnythingResearch Analysis of U.S. federal statistics




Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Seafood Product Preparation and Packaging company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation RatiosIndustry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Seafood Product Preparation and Packaging industry is performing.
Profit Margin
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Seafood Product Preparation and Packaging measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.


Liquidity RatiosIndustry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio
Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.


Efficiency Ratios - Key Performance IndicatorsIndustry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.



Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 4%

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General and Operations Managers2%
Office and Administrative Support Occupations 7%
Production Occupations 53%
Food Processing Workers 35%
Butchers and Other Meat, Poultry, and Fish Processing Workers 30%
Meat, Poultry, and Fish Cutters and Trimmers 30%
Other Production Occupations 12%
Transportation and Material Moving Occupations 20%
Material Moving Workers 16%
Laborers and Material Movers 15%
Packers and Packagers, Hand 9%
Source: Bureau of Labor Statistics


Seafood Product Preparation and Packaging Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Seafood Product Preparation and Packaging industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Seafood Product Preparation and Packaging industry and adjacent sectors:

Market Leaders:
Direct Competitors

Companies with the largest market share, focused in this industry
Market leaders:
Diversified Competitors

Largest companies that have diversified operations in this and other industries
Innovators:
Direct Competitors

Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.
Innovators:
Diversified Competitors

Innovators and Disruptors in adjacent industries that may also affect the Seafood Product Preparation and Packaging industry.
Source:
IncFact




Innovation News



Recent Federal Contracts for Seafood Product Preparation and Packaging

  • Feb 26, 2024: DULCICH INC (Clackamas, OR) awarded $27,339,829
  • Feb 22, 2024: AMERICAS CATCH INC (Itta Bena, MS) awarded $13,986,140
  • Feb 21, 2024: EAST COAST SEAFOOD LLC (New Bedford, MA) awarded $16,240
  • Feb 16, 2024: TRIDENT SEAFOODS CORPORATION (Seattle, WA) awarded $40,652,400
  • Feb 15, 2024: OCEAN SELECT SEAFOOD, L.L.C. (Breaux Bridge, LA) awarded $4,252,200
  • Feb 15, 2024: RED LAKE NATION FISHERIES, INC. (Redby, MN) awarded $1,425,600




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