EVALUATION OF MARKET SIZE AND POTENTIAL FOR AQUACULTURE PRODUCED MARINE BAIT SHRIMP IN FLORIDA VIA A RETAILER SURVEY

Of the total economic impact generated by the marine recreational fishing industry in the US, the largest component is generated by Florida. Bait purchases represent a major portion of marine recreational anglers' expenditures. Descriptive market information necessary to shape production and marketing strategies is lacking. The objectives were to survey bait retailers to evaluate and describe the market for live marine bait shrimp along the coasts of Florida, and to assess the potential market for an aquaculture produced bait shrimp.

A survey instrument was designed and distributed to 224 bait retailers in 35 coastal counties in Florida. Surveys were developed to be concise and succinct, while still soliciting salient information vital to market evaluation. Bait shrimp retailer survey questions focused on business location, shortcomings of wild shrimp, preferred bait shrimp characteristics, perception of aquaculture, quantities of bait shrimp sold, bait shrimp wholesale purchase prices, purchasing patterns as related to season and size, perceived bait shrimp market demand by region, and interest in purchasing an aquaculture produced bait shrimp.

A total of 98 surveys were returned from 31 counties for a 43.8% response rate. The majority of all respondents (95.9%) sold live marine bait shrimp. Overall perception of aquaculture as a means to produce bait shrimp was positive, with 26.4% reporting positive and 18.7% somewhat positive. Analysis of demand data by season for live marine bait shrimp suggested seasonal shortages for a variety of size classes. Findings suggest these shortfalls may be exploited by potential live marine bait shrimp producers and retailers to help gain market share and develop pricing strategies. Results of this market survey have direct application to potential producers seeking to enter the live marine bait shrimp market in Florida.