Analysis of niche market demand for farm-raised black sea bass Centropristis striata in three major metropolitan cities: Miami, Philadelphia and New York City.
Presentation
Overview
Overview
Description
The black sea bass (BSB), Centropristis striata, is a marine finfish found naturally along the east coast of the United States. Historically, BSB has been an important commercial seafood species with strong demand in major east coast U.S. cities. However, overexploitation is resulting in restrictive regulations that will limit future commercial landings. BSB is a high-value fish, typically prepared fresh in upscale gourmet restaurants. High value and an increasingly limited wild-caught supply make BSB an excellent candidate for commercial aquaculture. Due to the high capital costs of marine aquaculture production, identifying high-value market niches is essential. At WAS 2008, the authors presented estimates of niche market demand for BSB for the state of North Carolina, USA, a leading state in the development of BSB production technology. The purpose of the present work is to estimate BSB niche market demand in large metropolitan markets along the east coast of the USA.
We investigate the high-value niche market for farm-raised BSB in three east coast metropolitan cities (Philadelphia, New York City and Miami) using an in-restaurant, field sample survey of restaurant chefs and managers. Methods follow those used successfully in North Carolina. BSB broodstock have been spawned and juveniles grown out to market size in a near commercial-scale recirculating aquaculture system (RAS) located at the Center for Marine Science, University of North Carolina Wilmington, USA. Approximately 1,700 RAS-grown BSB provide fresh product for the in-restaurant surveys, where chefs will prepare the product and compare it with substitutes. We analyze restaurant and consumer preferences, investigating the effects of restaurant seating capacity, average entree price, ethnic theme, tourist/local clientele, seafood intensity, purchase frequency and storage duration, preferred product form and preparation method, BSB size and fat content, BSB price, substitute fish type and price, and season on BSB quantity demanded (pounds per month) at the individual restaurant level. Our sampling design allows us to identify and characterize the size of the BSB upscale niche market and to extrapolate sample results to the full population of metropolitan restaurants to estimate the demand for niche market BSB in major east coast USA cities.
