Despite price rises resulting in a downturn in volume sales of processed fish in 2022 and '23, the category displays a level of resilience owing to the ability to 'trade down' within the category.
Despite price rises resulting in a downturn in volume sales of processed fish in 2022 and ’23, the category displays a level of resilience owing to the ability to ‘trade down’ within the category. Consumption appears to have shifted towards more-affordable, durable formats (ie tuna, herring) amid the high cost of living.
It is important to note, however, that economic factors will continue to play a role in consumer decision-making. This is particularly pertinent as supply-side changes catalysed by 2025 fishing quotas threaten to result in short-term price rises.
Reasons for optimism for fish & shellfish brands stem from the strong belief that fish/shellfish contain nutrients essential for good health (60% of Germans). Leveraging the inherent health benefits of fish consumption can help propel the category towards sustainable growth.
Sustainability claims are an untapped opportunity in the fish & shellfish category, potentially pointing to the need for change (particularly in the field of water health). Moreover, youth-driven demand is another feather in the cap for a category looking to cement itself in the psyche of Germans for years to come.
Extol seafood's inherent health benefits whilst improving its sustainability credentials to promote long-term, resilient demand amid price rises.
Adam Millward, Research – Mintel Reports
This Report discusses seafood for in-home consumption sold through retail.
For the purpose of this Report, seafood is defined to include fish (fin fish) and shellfish (including crustaceans), whether chilled, frozen or ambient. This report covers packaged plain, as well as processed and ready-to-cook products.
The word ‘ambient’ is used to refer to the segment traditionally dominated by canned fish, which now also includes ambient fish in tubs, pouches and jars. The segment includes a small portion of sales of fish-based ready-to-eat/heat meal products.
Excluded from this report are seafood-based ready meals and sales of seafood through the catering sector, but reference to them may be made where relevant in light oft their role as closely adjacent and competing products. Sales of sushi are also excluded.
There is no question that Mintel is the go-to resource for the best quality market research, but I did not think it was an affordable option for Abacus Marketing to consider. As a small marketing agency, we only work with a few new clients each year.
However, we have a very high-end consultative approach to our work, so we really do need a partner like Mintel to provide the big agency experience we are always aiming to deliver. Our clients come from an incredibly diverse range of industry sectors, so we obviously need access to market research reports from a very wide spectrum of marketplaces – and that is precisely what we got.
One of the biggest challenges we face is the need to get smart on a business or category real quick.
We are talking to clients who live and breathe their category every day and the expectation is that we will be able to get caught up very quickly, and bring the thinking that can help them.
We need to do that often in a matter of days, so it’s not a small ask. Mintel gives us a very articulate view of category conditions and does so at the speed we need it.
We’ve found it so useful working more closely with Mintel. They helped support our recent flagship event for our top suppliers by providing a really unique viewpoint on the future of online retailing.
Nick Carroll from their Retail Team was also an excellent panelist, sharing useful and actionable consumer insights. We definitely look forward to working with Mintel again on future projects.
At Jackman, we believe that powerful strategies are based on human insight. Mintel’s leading-edge reports and insights into consumer attitudes and behaviors are an important input as we develop and execute strategy.
We utilize Mintel Reports, Trends and Comperemedia to mine for insights across the numerous business verticals that Epsilon serves, such as CPG, automotive, telecom, healthcare/pharma, retail and financial services.
By integrating Mintel insight into new business opportunities, we have been able to gain the competitive edge necessary to advance partnerships with global brands and key business players.
For our organization, it’s about depth and breadth. Having one without the other doesn’t enable success in our business.
