The young seafood consumers...26.03.2019 The young seafood consumer 3 Each generation came of age...

The young seafood consumers

Frank Isaksen

Chief Analyst, Norwegian Seafood Council. fi@seafood.no

26.03.2019

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The mindset

….Generational

similarities and

differences

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Each generation came of age when different political,

social, and technological events took place

Baby Boomers (1946 - 1964) – Expansion of TV

Generation X (1965 - 1980) – Computer revolution taking hold

Millennials (1981 - 1996) – Internet, mobile

Generation Z (1997 - present) – Apps, Environment

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71 million millennials in the US

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Source: Euromonitor international

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• Environment

• Health

• Convenience

• Technology

The Environment

The past is

catching up

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A green shift

•Consumers

•Universities

•Retail

•Environment

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…………………………………

Protein producer and sustainability – The FAIRR index

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Health

Seafood

The Seafood Consumer Index (SCI)

• It’s healthy

• It’s easy to make

• It tastes good

• It’s quick to prepare

• It’s lean

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Annual consumer survey which has

been conducted over the course of 8

years.

The database consists of 200.000

respondents in 32 countries

The survey is about attitudes,

preferences and behavior related to fish

and seafood.

The Seafood Consumer Index (SCI)

0

500

1000

1500

2000

2500

3000

Re

sp

on

de

nts

USA

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How

often do

you eat

fish?

How often do

you eat fish

or seafood?

foto_johan_wildhagen-8869

The Seafood Consumer Index (SCI)

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The Seafood Consumer Index (SCI)

22%

14%

21%

8%

12%

0%

5%

10%

15%

20%

25%

It's healthy It's easy to

make

It tastes good It's quick to

prepare

It's lean

18-34

35-49

50-65

Environment &

Health

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“Dietary changes from currentdiets toward healthy diets arelikely to result in significanthealth benefits.”

EAT-Lancet Commission

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Planetary Health Diet

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Products,

Packaging, &

Communication

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The Seafood Consumer Index (SCI)

Fresh Frozen Smoked

2016 54% 44% 15%

2017 57% 42% 15%

2018 60% 46% 20%

0%10%20%30%40%50%60%70%

AllFresh Frozen Smoked

2016 55% 46% 19%

2017 61% 46% 16%

2018 63% 50% 21%

0%

10%

20%

30%

40%

50%

60%

70%

18-34

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What, how, when, where

…and informed?

Amazon

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Amazon Go…No lines, no checkout – Just grab and go…

Delivery

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Amazon

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Apps

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Food delivery

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Food delivery…some of the companies…

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*Includes takeout and delivery †Food only

The restaurant food delivery market

More people get access to grocery home-delivery

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Sources: William Blair (third-party restaurant platforms–estimates and projections); the

company (Instacart accessibility); Deutsche Bank (Instacart market share)

Online grocery sales – Relatively small, but growing fast

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Walmart and the total Online grocery market

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Delivery Costs – Heading towards a sustainable business

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Food delivery: Convenient, eco-friendly, economically

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Summary

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Additional consumer demands

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• As always: Ever increasing new flavors and meals

• Healthy, eco-friendly and social friendly

E.g. FAIRR Index, EAT forum, Environmental certification

• Traceability, transparency, communication.

E.g. block-chain technology

• Products and packaging suited for different meal types, self

servicing and home delivery

Thank you!