MARKET OPPORTUNITY
The USA is the world's most valuable individual agrifood market (with total annual food and beverage expenditure of over US$1 trillion (2002), with average per capita expenditure of US$3,488 per annum (2002), and a population of 300 million by 2006. One of the leading agrifood items over CY1995-2005 was fish/ crustaceans & molluscs (US$9.9 billion in 2005) (source UN, commodity Trade Database, October 2006).
Since 1999 the USA has become a net importer of Agrifood with a growing dependance on imported food products.
Australia and the USA have recently entered into a FTA. As part of the FTA the tariffs on up to 50 seafood products was and is being reduced. The competitiveness of Australian seafood products versus domestic and international competition has grown.
California is one of the most affluent economies in the world. Consumers have high disposable incomes and a propensity to spend money on entertainment. California also consumes 23% of the country’s specialty food indicating an appreciation and education of fine food, including a propensity to buy.
Food markets are driven by indulgence, health and convenience. No where in the world is this trend more relevant than California. Seafood delivers both indulgence and health in foodservice and indulgence, health and convenience to home consumer.
The purpose of this project is to collect and analyse the information needed to create an efficient, quality led supply chain from Australia to the regions top importer distributors.
