The project is required to identify new export markets and find new more profitable niches in existing markets. The industry also must become more market driven and have a better understanding of changes in global supply chains and their impact on the industry, along with a need to obtain a better understanding of customers and the opportunities for product value adding.
The project aligns with the the FRDC Strategic R & D Plan under Program 2 'Industry Development' and sub-title 'Market Development'.
The project also aligns with the southern lobster industry strategic plan in several 'High Priority' areas.
Investment Platform 1 'Profitability' - Action 1 - "Increase sales margin per Kg of lobster through market development and supply chain management"
Investment Platform 3 'Market Planning & Development' - Action 3 - "Conduct market research in selected Asian, North American, and European markets to:
- Identify viable niche market opportunities.
- Identify consumer needs and preferences for fresh and value added lobster products
- Identify cool chain and quality management requirements
- Identify the product and supply capabilities of competitors
- Meet importers, distributors, and food service managers to establish rapport, enhance industry awareness, and discuss value adding opportunities
- Assess new food service and value adding technologies that may be applied to 'Jasus Edwardsii'
