Key vendors to strategically increase their sales through a clear and unique value proposition
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global crustaceans market in their latest research report. This report also lists 10 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated from the retail sales of crustaceans including shrimp, crabs, prawns, barnacles, krill, and lobsters.
This Technavio report, under food vertical, is based on the synthesis, analysis, and interpretation of information about the global crustaceans market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive scenario
The global crustaceans market has numerous vendors including international and regional. Many vendors in the market are involved in different stages of the supply chain such as hatching, farming, processing refrigerating, canning, distributing, and trading of crustaceans. Vendors work together with hatcheries that provide the species, which are then sent to farmers who cultivate the species in controlled environment conditions. The farmers harvest the produce and sell it either to the distributors or directly trade across regional and international markets. The factors determining the competition among the vendors are product differentiation, portfolio, and pricing. There are several companies present in the market, where some own self-manufactured hatcheries and canneries while some of them specialize in the storage and preservation of crustacean and frozen food products. The price of the crustaceans depends on the environmental conditions and is widely variable in some of the most important seafood producing nations such as Canada, Indonesia, and Thailand. Such variations in sea and environment conditions aggravate the competitive scenario of the market, leading to price wars among vendors.
“With new players entering the market and several price strategies adopted by the existing vendors, the competition in the market is anticipated to intensify during the forecast period. Many frozen food businesses, including frozen seafood, are merging to form profitable entities. To survive the fierce competition, vendors must make efforts to make their product and service offerings stand out through clear and unique value proposition,” says Manjunath Reddy, a lead analyst at Technavio for research on food.
Top five vendors in the global crustaceans market space
Ichiboshi
Ichiboshi mainly deals in the manufacturing, processing, purchasing, and marketing of seafood and other food products. It focuses on the import of seafood, fruits, and processed food products, and sells its products under the brand name CRABS. Japan accounts for around 80% of the company’s products shipments, especially frozen snow crab, closely followed by the US.
Key products: Snow crab and Lobster
International Fish Farming and Holding Company
This company provides fresh and frozen seafood in the Middle East region. It owns aquaculture, fishing, hatchery, and processing operations in the UAE, Bahrain, Saudi Arabia, and Oman. The company has extended its offerings to value added food products such as breaded seafood products, and markets its products under the brand name, Asmak.
Some key products: Fresh seafood products, frozen crustaceans, Jumbo shrimp, cooking shrimp, breaded popcorn shrimps, etc.
RDM Aquaculture
RDM Aquaculture provides fresh, clean and saltwater shrimp. The shrimps are raised without antibiotics or hormones in climate-controlled environment. RDM sells shrimps live to guarantee freshness. The company uses Zero Exchange Aerobic Heterotrophic (ZEAH) system that uses bacteria culture to raise its shrimp with zero water exchange. It delivers its products to high-end restaurants, distributors, retail sales, caterers, grocery stores, and live markets. In addition, the company also offers consulting, equipment, and know how to other counterparts in the business.
Key products: Shrimp and Australian red claw
Seaview Crab Company
Seaview Crab Company offers crabs around the year. The company deals in harvesting, processing, promoting, and delivering seafood products. Besides offering crabs, it also offers a huge range of the US shrimp, local whole fish, and fresh and frozen fish fillets, which are available through its online store also. Its network of suppliers is mainly located in North Carolina and extends from New England to Florida.
Key products: Live blue crabs, snow crab cluster, and frozen brown shrimp
Surapon Foods
Surapon Foods functions in a single line of business, namely, manufacturing and trading of frozen food products including finished and semi-finished frozen foods, which is a unified product line. The company primarily deals in the manufacturing and distribution of ready-to-cook and ready-to-eat frozen foods. It designs and develops its products in compliance with Hazard Analysis and Critical Control Point (HACCP) food safety standards.
Key products: Marinated prawns, prawn popcorn, shrimp shumai, and raw vannamaei head-on-shell-on
Other prominent vendors in this market include Big Prawn, Beijing Princess Seafood, Dong Won Fisheries, AquaChile, Faroe Seafood, Findus Group, Mogster Group, Nireus Aquaculture, Russian Aquaculture, and Selonda Aquaculture.
A more detailed analysis is available in the Technavio report, ‘Global Crustaceans Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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