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Per capita seafood consumption in the U.S. has been steadily rising,
reflecting stronger consumer health concerns. Even so it can hardly
compare with the seafood consumption in Japan. Furthermore, according
to data by the U.S. National Marine Fisheries Service, per capita
seafood consumption peaked in 2004 with 16.6lbs/ year and has leveled
off since then. Particularly in 2008, with the downturn in the restaurant
industry, soaring fish prices and the impact of the relatively stable
prices of chicken, consumption is believed to have slumped substantially.
However, in the long-term, demographic factors, the shift toward
an aging society, the increase in the Hispanic population and rising
consumer health concerns are all thought to have positive impacts
on consumption. There are many prospective elements that are thought
to contribute to a rising arc in seafood consumption.
In terms of
precooked frozen seafood, consumption peaked in 2005 and has been
on a declining trend since then. One reason for this phenomenon
is that as consumers come into more frequent contact with seafood,
they are more likely to purchase products with lower levels of processing
such as fillet portions to cook at home rather than purchasing the
conventional breaded deep-fried products. This trend is thought
to have more than a little effect on consumer purchases. Currently,
frozen foods may be temporarily out of favor with the consumers,
but from a long-term perspective, there is no denying that seafood
is steadily but surely becoming a part of their regular diet.
Through
this additional investment in GFC, Nissui has succeeded in securing
a stable supply of Alaska Pollock, which are the ingredients of
white-meat fish. Consequently, an integrated supply chain of even
greater stability, from procurement to processing/sales has been
put in place. Accordingly, Nissui's white fish business in
North America as a function of the afore-mentioned “Global
Links” is also expected to evolve to even greater heights.
This move is also expected to generate a supply of products of other
fish, such as Pacific whiting, Pacific cod and yellowfin sole to
each of the Group companies. In particular, commercialization of
yellowfin sole products, whose TAC in the Bering has not been fully
utilized, is a definite possibility. Furthermore, it should also
fuel the product development of other marine resources, which are
not being fully utilized at the moment.
Nissui, which will commemorate
its 100th anniversary in 2011, launched a new mid-term management
plan (the new TGL plan) in 2006. The objective of the new TGL plan
has been for the Nissui Group companies to coordinate their procurement,
production, processing and sales functions in order to forge a "Global
Links" that would link the world's production
bases with the dinner tables around the world and to provide the
consumers the world over with delectable and high-quality seafood
at a reasonable price. Through its linkage to the resources and
markets of South America, Asia and Europe, the business model in
North America is expected to become the cornerstone of Nissui Group’s
Global Links and play an integral part into the future.
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