US commercial fishing industry report
Research and Market has announced a report on US commercial fishing industry, revealed a media report.
As per the report there are about 2000 companies in the US commercial fishing industry with combined annual revenue of $4 billion. No major companies dominate the industry, which is highly fragmented. The commercial fishing industry includes the wild catching of finfish, shellfish, and other marine products from their natural habitat. Seafood processing and distribution and fish farming (aquaculture) are covered in separate industry profiles.It is no doubt that the US commercial fishing industry is facing tough competition from imports because demand is driven by domestic trends in fish consumption and imports. The profitability of individual companies depends on maximizing yield without depleting stocks. Industrial fisheries have advantages in fleet size and access to experienced crew members. The report also states that the revenue of the industry is split between shellfish and finfish. Major shellfish products are crab, shrimp, lobster, and scallops (each with about 10 percent of industry revenue). Major finfish products include Alaskan pollock, salmon, halibut, and cod. The US lands 8 billion pounds of fish and shellfish annually, around 5 percent of the worlds total. The US Exclusive Economic Zone (EEZ), the federal territory that extends 200 miles offshore, accounts for the majority of US landings.
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