Specialist retailers — such as fishmongers — have a 43% market share in value for fresh products, while large retailers — hypermarkets and supermarkets — have an 89% share in packed products.
For fresh products, large retailers still have a significant market share to reach when compared to packed products, which shows the considerable growth potential, Butrageno said on June 4 at the XV AECOC congress on seafood products held in Baiona, near Vigo in Spain.
“Fresh products’ sales in Spain generate €25 billion, out of which €10bn could be potentially earned by hypermarkets and supermarkets,” Butrageno said.
Nielsen also highlighted the market niche for online sales, as this platform already involves €300m in sales, of which fresh products contribute just 0.3%.
Fresh goods make up a third of the annual amount spent in the shopping basket in Spain — totaling €70.7bn in 2013.
Consumers in Spain buy fish at least twice per week, which makes seafood products an important driver to generate consumer traffic in shops.
However, consumers have shown price sensitivity for fresh products. Last year, fresh product prices increased by 2.8% and the category dropped 2.5% in sales volume in response.
For seafood products, price-sales correlation is quite clear.
Fresh fish showing the greatest growth in sales volume last year were cefalophods — from 7.8% in 2012 to 9.1% in 2013 — and sardines — from 9.3% in 2012 to 9.8% last year.
Species hit by higher prices were hake, dropping by 9.6% to 16.9%; molusks, decreasing by 11.1% to 8% and shellfish, down by 11.8% to 5.2%.
€1 format, key to sale
Since Spanish households’ budget has been hit by the economic climate, every cent counts for consumers.
This means consumers would prefer to buy a product of €1 against another with a higher price, even when the second is actually priced cheaper per kilo.
“Round prices, such as €1 formats, are working fairly well, even if they result more expensive in kilos than other products. The client is not so rational,” Butrageno said.
(seafood.vasep.com.vn) According to a report by the General Statistics Office, the estimated pangasius output for January 2025 reached 102.5 thousand tons, representing a 6.0% increase compared to the corresponding period of the preceding year. This surge is attributed to the rise in pangasius material prices within the Mekong Delta, which has incentivized aquaculture farmers to expand their stocking activities. Concurrently, this price increase has facilitated processing enterprises to intensify procurement efforts to meet export demands during the early part of the year.
(seafood.vasep.com.vn) Between 2015 and 2024, Vietnamese pangasius exporting enterprises have undergone notable transformations in rankings and experienced fluctuations in developmental strategies, competitive intensity, and business efficacy. This dynamic is clearly illustrated through shifts in export turnover and the proportional contribution to the national pangasius export volume among the Top 5 enterprises.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
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