NAICS 311710 Quarterly Industry Report
Seafood Product Preparation and Packaging
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 311710Sector: 31Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 311710 provides valuation-focused intelligence for professionals assessing seafood processing businesses. Additional data is drawn from Bureau of Labor Statistics[8], U.S. Census Bureau[9].. Data is sourced from FDA[6] seafood safety regulations, NOAA Fisheries[7] commercial fishery data, and SBA size standards[10] to support business appraisals, acquisition due diligence, lending decisions, and investment analysis for seafood processing enterprises.
Industry Snapshot
Key metrics for the seafood product preparation and packaging industry.
Industry Definition & Overview
Seafood Product Preparation and Packaging (NAICS 311710) encompasses establishments primarily engaged in canning seafood, smoking and curing fish, freezing seafood, eviscerating and filleting fresh fish, shucking and packing shellfish, processing marine fats and oils, and preparing other preserved seafood products for retail and foodservice distribution. These processors handle wild-caught and aquaculture-raised fish and shellfish from domestic and imported sources, transforming raw seafood into consumer-ready fresh, frozen, canned, smoked, and breaded products. The U.S. Census Bureau[5] classifies seafood product preparation separately from fishing operations (NAICS 114111, 114112) and frozen specialty food manufacturing (NAICS 311412).
The U.S. seafood processing industry handles billions of pounds annually, with shrimp, salmon, tuna, crab, and pollock among the highest-volume species. The FDA[6] regulates seafood safety through mandatory HACCP (Hazard Analysis Critical Control Points) requirements, while the NOAA Fisheries[7] agency manages commercial fishery quotas and aquaculture oversight that affect raw material availability. Import dependence is high, with the majority of seafood consumed in the U.S. sourced from international suppliers, creating supply chain complexity and traceability requirements.
Business valuations for seafood processors focus on species specialization and raw material sourcing reliability, processing plant location relative to fishing ports or import gateways, cold chain infrastructure, brand recognition in retail and foodservice channels, and quota or permit access for regulated fisheries. Appraisers evaluate processing yield rates, product mix between fresh and frozen formats, seasonal production patterns aligned with fishing seasons, and the competitive positioning between domestic processors and imported processed seafood products.
What's Included in This Industry
- Sector-specific valuation multiples and financial benchmarks for seafood processing and packaging operations
- Revenue and profitability analysis across frozen seafood, canned fish, fresh fillets, smoked products, breaded items, and shellfish processing segments
- SBA size standard classification and lending threshold data for NAICS 311710
- Comparable transaction data from recent seafood processing company acquisitions, plant sales, and brand portfolio transactions
- Market analysis covering seafood consumption trends, species demand patterns, aquaculture growth, import competition, and sustainability certification
- Workforce and labor cost benchmarking for fish cutters, shellfish shuckers, packaging line workers, quality inspectors, and cold storage personnel
- Industry risk assessment including raw material supply variability, import competition, fishery quota changes, cold chain costs, and seafood safety exposure
- Regulatory compliance overview covering FDA HACCP requirements, seafood safety standards, country-of-origin labeling, and NOAA fishery management rules
- Capital expenditure profiles for filleting lines, breading and battering systems, blast freezers, canning retorts, smoking kilns, and cold storage facilities
- Production metrics including pounds per labor hour, fillet yield rates, freezing throughput, cold chain compliance, and cost per pound benchmarks
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Subsector | Food Manufacturing | 311 |
| Industry Group | Seafood Product Preparation and Packaging | 3117 |
| NAICS Industry | Seafood Product Preparation and Packaging | 31171 |
| National Industry | Seafood Product Preparation and Packaging | 311710 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 114111 | Finfish Fishing | Finfish fishing operations supplying wild-caught fish to seafood processors through dock-side purchasing, fishing cooperative arrangements, and auction markets |
| 114112 | Shellfish Fishing | Shellfish fishing operations harvesting shrimp, crab, lobster, and oysters that seafood processors receive for cleaning, shucking, cooking, and packaging |
| 424460 | Fish and Seafood Merchant Wholesalers | Fish and seafood merchant wholesalers distributing processed seafood products from manufacturing plants to retail grocery and foodservice customer accounts |
| 493120 | Refrigerated Warehousing and Storage | Refrigerated warehousing and cold storage facilities providing frozen seafood inventory management and cold chain distribution for seafood processors |
| 445291 | Baked Goods Retailers | Baked goods retail stores and specialty food retailers that carry premium smoked and prepared seafood products for consumer specialty food purchases |
| 722511 | Full-Service Restaurants | Full-service restaurants purchasing fresh, frozen, and processed seafood products from processors and wholesalers for menu preparation and daily specials |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | Alaska | 16.7% | 86 |
| 2 | Washington | 13.6% | 70 |
| 3 | California | 8.9% | 46 |
| 4 | Louisiana | 6.6% | 34 |
| 5 | Massachusetts | 6.0% | 31 |
| 6 | Oregon | 4.9% | 25 |
| 7 | Maine | 4.5% | 23 |
| 8 | Florida | 4.5% | 23 |
| 9 | Virginia | 4.3% | 22 |
| 10 | Mississippi | 3.5% | 18 |
% Of Establishments
0%
17%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
48
Total SBA Loans
$34.9M
Total Loan Volume
$727K
Average Loan Size
10 yrs
Average Loan Term
8.80%
Average Interest Rate
872
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA[11] classifies Seafood Product Preparation and Packaging (NAICS 311710) with a size standard of 750 employees. Seafood processors within this threshold qualify for SBA-backed lending[12] and government contracting preferences supporting processing equipment investment and market development. Eligible businesses can access SBA 7(a) loans[13] for working capital, equipment, and acquisition financing, while 504 loans[14] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Webster Bank National Association | 8 | $22.8M | $2.8M |
| 2 | Bank of the Pacific | 16 | $8.0M | $498K |
| 3 | Newtek Bank, National Association | 8 | $2.0M | $250K |
| 4 | JPMorgan Chase Bank, National Association | 8 | $1.4M | $180K |
| 5 | Lighthouse Federal Credit Union | 8 | $693K | $87K |
Frequently Asked Questions
Common questions about this industry.
What is the NAICS code for seafood processing?
Seafood Product Preparation and Packaging is classified under NAICS code 311710, covering fish and shellfish processing per the U.S. Census Bureau[5] industry classification system.
What is the SBA size standard for seafood processing?
The SBA[11] sets the size standard for NAICS 311710 at 750 employees, qualifying eligible seafood processors for small business lending programs and government contracting preferences.
How are seafood processing businesses valued?
Valuations focus on species sourcing reliability, plant location near fishing ports, processing yield rates, cold chain infrastructure, and brand recognition per NOAA[7] fishery data.
What products does NAICS 311710 cover?
Products include frozen fish fillets, canned tuna and salmon, smoked fish, breaded seafood, shucked shellfish, surimi, and seafood dinners per U.S. Census Bureau[5] product definitions.
How dependent is U.S. seafood processing on imports?
The U.S. imports the majority of seafood consumed domestically, creating heavy dependence on international supply chains for shrimp, tilapia, and other species per NOAA Fisheries[7] trade data.
What risks affect seafood processors?
Major risks include raw material supply variability from fishing quotas, import competition from low-cost producers, cold chain logistics costs, seafood safety recall exposure, and species availability.
What food safety standards apply to seafood?
The FDA[6] mandates HACCP (Hazard Analysis Critical Control Points) food safety plans for all seafood processors, covering pathogen controls, allergen management, and temperature monitoring.
How does sustainability affect seafood processing?
Sustainability certifications from organizations like the Marine Stewardship Council influence sourcing decisions, retail positioning, and consumer purchasing preferences for responsibly harvested seafood.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]FDA fda.gov
- [7]NOAA Fisheries fisheries.noaa.gov
- [8]Bureau of Labor Statistics bls.gov
- [9]U.S. Census Bureau census.gov
- [10]SBA size standards sba.gov
- [11]SBA sba.gov
- [12]SBA-backed lending sba.gov
- [13]SBA 7(a) loans sba.gov
- [14]504 loans sba.gov
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