North America Seafood Industry Overview
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Study Period: | 2016 - 2028 |
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Largest Share by Type: | Fish |
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Largest Share by Country: | United States |
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CAGR: | 1.07 % |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
North America Seafood Market Analysis
The North America Seafood Market is projected to register a CAGR of 1.07%
- Largest Segment by Type - Fish : The frozen form dominates the fish segment of the market as it is more readily available and less expensive. The higher shelf life of frozen fishes further drives its demand.
- Largest Segment by Country - United States : The larger on-trade industry, high seafood production, presence of distinct ethnic groups, and higher purchasing power are a few of the major factors driving the US market.
- Fastest-growing Segment by Type - Shrimp : The constantly increasing per capita shrimp consumption, mainly through the off-trade channel, is driving the growth. However, the on-trade channel holds a major market share.
- Fastest-growing Segment by Country - Mexico : The other seafood segment, including crabs and lobsters, is primarily driving the Mexican market. The growing online seafood distribution may further drive the market.
North America Seafood Industry Segments
Fish, Shrimp are covered as segments by Type. Fresh / Chilled, Frozen / Canned, Processed are covered as segments by Form. Off-Trade, On-Trade are covered as segments by Distribution Channel. Canada, Mexico, United States are covered as segments by Country.| Type | |
| Fish | |
| Shrimp | |
| Other Seafood |
| Form | |
| Fresh / Chilled | |
| Frozen / Canned | |
| Processed |
| Distribution Channel | ||||||
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| On-Trade |
| Country | |
| Canada | |
| Mexico | |
| United States | |
| Rest Of North America |
North America Seafood Market Trends
This section covers the major market trends shaping the North America Seafood Market according to our research experts:
Fish is the largest segment by Type.
- In the North American region, fish is the major category in the seafood market. Improving infrastructure, freezing storage facilities, and ensuring the availability of high-quality fish commodities for domestic consumers are critical components of an efficient and profitable supply chain. In the North American region, fish per capita consumption accounted for 16.84 % in 2021.
- In North America, shrimp is the fastest-growing segment in the seafood market. The shrimp sector is gaining traction as shrimp are being widely used in dietary supplements to overcome the lack of protein intake among consumers. As consumers have increased the protein intake in their diet and as it is the best source of protein available, the consumption of shrimp ingredients is rising tremendously, leading to an expansion in the shrimp market. Shrimps are expected to register a CAGR of 2.20%, by value, during the forecast period.
- In the United States, regulators implemented season-length restrictions, total allowable catch limits, and gear and vessel power restrictions to combat overfishing. As a result, fishermen adopted new technologies and methods to work around these controls. Therefore, the prices of fish increased. In the United States, the fish segment registered a growth of 15.06%, by value, from 2018 to 2020.
- Seafood is expected to register a CAGR of 0.77%, by value, during the forecast period (2022-2028). The US President signed an executive order for promoting American seafood in May 2020 to boost competitiveness in the seafood industry. It also urges the expansion of sustainably produced seafood in the United States. For competitive expansion, major corporations, including Marine Harvest, Starkist, and Nippon Suisan, are concentrating on the market's numerous product innovations.
To understand key trends, Download Sample Report
United States is the largest segment by Country.
- • The United States accounted for the major share of the global seafood market and recorded a Y-o-Y growth rate of 5.8% from 2020 to 2021. The country is expected to hold the largest market share due to increasing consumer inclination toward seafood consumption and the growing food and beverage industries in North America.
- Seafood sales increased by around 5.54% in 2020 compared to the previous year. During the COVID-19 pandemic, 56% of seafood was purchased at retail outlets like grocery stores or fish markets, while 31% was purchased at restaurants. The pandemic affected overall seafood sales. However, continuous restrictions and disruptions in the functioning of companies in the United States during the fourth quarter of 2020 hampered the production of processed seafood.
- By type, fish was the highest-consumed product in the region, with a share of around 57%, by value, in 2021. The per capita fish consumption is increasing rapidly due to the growing interest in the health benefits of seafood consumption, which has driven the industry's growth over the last five years.
- However, Mexico is projected to record the highest CAGR value of 2.17% during the forecast period, primarily driven by processed shrimp and other seafood. Due to the increasing demand for other seafood products like lobsters and crabs, the other seafood segment's consumption increased by 21% in kg/capita from 2019 to 2021.
- Government support through initiatives, such as the Canada-United States-Mexico Agreement (CUSMA) (which went into effect on July 1, 2020), also boosted the seafood market's growth by 5.6% in 2021 compared to 2020.
To understand geography trends, Download Sample Report
North America Seafood Market Competitor Analysis
The North America Seafood Market is fragmented, with the top five companies occupying 11.78%. The major players in this market are Admiralty Island Fisheries Inc., Mowi ASA, Pacific American Fish Company Inc., Sysco Corporation and Thai Union Group PCL (sorted alphabetically).
North America Seafood Market Top Players
Admiralty Island Fisheries Inc.
Mowi ASA
Pacific American Fish Company Inc.
Sysco Corporation
Thai Union Group PCL
*Disclaimer: Major Players sorted in no particular order
North America Seafood Market Recent Developments
- June 2022: High Liner Foods Inc. reinvested in its Newport facility, modernizing it to meet the increased demand for the company’s high-quality seafood.
- March 2022: Beaver Street Fisheries completed its renovation in Jacksonville for the packaging facility. This move may help the company improve its storage facilities.
- March 2022: Thai Union Group formed a partnership with the Sustainable Fisheries Partnership (SFP) to promote supply chain transparency and examine wider ecological consequences. The partnership with SFP is dedicated to creating a responsible seafood business to ensure healthy marine and aquatic environments and a secure seafood supply.
North America Seafood Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. INTRODUCTION
2.1. Study Assumptions & Market Definition
2.2. Scope of the Study
2.3. Research Methodology
3. KEY INDUSTRY TRENDS
3.1. Price Trends
3.2. Production Trends
3.3. Regulatory Framework
3.4. Value Chain & Distribution Channel Analysis
4. MARKET SEGMENTATION
4.1. Type
4.1.1. Fish
4.1.2. Shrimp
4.1.3. Other Seafood
4.2. Form
4.2.1. Fresh / Chilled
4.2.2. Frozen / Canned
4.2.3. Processed
4.3. Distribution Channel
4.3.1. Off-Trade
4.3.1.1. Convenience Stores
4.3.1.2. Online Channel
4.3.1.3. Supermarkets And Hypermarkets
4.3.1.4. Others
4.3.2. On-Trade
4.4. Country
4.4.1. Canada
4.4.2. Mexico
4.4.3. United States
4.4.4. Rest Of North America
5. COMPETITIVE LANDSCAPE
5.1. Key Strategic Moves
5.2. Market Share Analysis
5.3. Company Landscape
5.4. Company Profiles
5.4.1. Admiralty Island Fisheries Inc.
5.4.2. Beaver Street Fisheries
5.4.3. Cooke Aquaculture
5.4.4. Dulcich Inc.
5.4.5. FCF Co., Ltd.
5.4.6. Gulf Shrimp Co. LLC
5.4.7. High Liner Foods Inc.
5.4.8. Mowi ASA
5.4.9. NaturalShrimp Inc.
5.4.10. Pacific American Fish Company Inc.
5.4.11. Sysco Corporation
5.4.12. Thai Union Group PCL
6. KEY STRATEGIC QUESTIONS FOR SEAFOOD INDUSTRY CEOS
7. APPENDIX
7.1. Global Overview
7.1.1. Overview
7.1.2. Porter’s Five Forces Framework
7.1.3. Global Value Chain Analysis
7.1.4. Market Dynamics (DROs)
7.2. Sources & References
7.3. List of Tables & Figures
7.4. Primary Insights
7.5. Data Pack
7.6. Glossary of Terms
List of Tables & Figures
Figure 1:
NORTH AMERICA SEAFOOD MARKET, FISH, PRICE IN USD/METRIC TONNES, 2016 - 2022
Figure 2:
NORTH AMERICA SEAFOOD MARKET, SHRIMP, PRICE IN USD/METRIC TONNES, 2016 - 2022
Figure 3:
NORTH AMERICA SEAFOOD MARKET, FISH, PRODUCTION IN METRIC TONNES, 2016 - 2028
Figure 4:
NORTH AMERICA SEAFOOD MARKET, SHRIMP, PRODUCTION IN METRIC TONNES, 2016 - 2028
Figure 5:
NORTH AMERICA SEAFOOD MARKET, VOLUME, METRIC TONNES, 2016 - 2028
Figure 6:
NORTH AMERICA SEAFOOD MARKET, VALUE, USD, 2016 - 2028
Figure 7:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, BY TYPE, 2016 - 2028
Figure 8:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, BY TYPE, 2016 - 2028
Figure 9:
NORTH AMERICA SEAFOOD MARKET, VOLUME SHARE (%), BY TYPE, 2016 VS 2022 VS 2028
Figure 10:
NORTH AMERICA SEAFOOD MARKET, VALUE SHARE (%), BY TYPE, 2016 VS 2022 VS 2028
Figure 11:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, FISH, 2016 - 2028
Figure 12:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, FISH, 2016 - 2028
Figure 13:
NORTH AMERICA SEAFOOD MARKET, FISH, VALUE SHARE (%), BY FORM, 2021 VS 2028
Figure 14:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, SHRIMP, 2016 - 2028
Figure 15:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, SHRIMP, 2016 - 2028
Figure 16:
NORTH AMERICA SEAFOOD MARKET, SHRIMP, VALUE SHARE (%), BY FORM, 2021 VS 2028
Figure 17:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, OTHER SEAFOOD, 2016 - 2028
Figure 18:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, OTHER SEAFOOD, 2016 - 2028
Figure 19:
NORTH AMERICA SEAFOOD MARKET, OTHER SEAFOOD, VALUE SHARE (%), BY FORM, 2021 VS 2028
Figure 20:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, BY FORM, 2016 - 2028
Figure 21:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, BY FORM, 2016 - 2028
Figure 22:
NORTH AMERICA SEAFOOD MARKET, VOLUME SHARE (%), BY FORM, 2016 VS 2022 VS 2028
Figure 23:
NORTH AMERICA SEAFOOD MARKET, VALUE SHARE (%), BY FORM, 2016 VS 2022 VS 2028
Figure 24:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, FRESH / CHILLED, 2016 - 2028
Figure 25:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, FRESH / CHILLED, 2016 - 2028
Figure 26:
NORTH AMERICA SEAFOOD MARKET, FRESH / CHILLED, VALUE SHARE (%), BY TYPE, 2021 VS 2028
Figure 27:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, FROZEN / CANNED, 2016 - 2028
Figure 28:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, FROZEN / CANNED, 2016 - 2028
Figure 29:
NORTH AMERICA SEAFOOD MARKET, FROZEN / CANNED, VALUE SHARE (%), BY TYPE, 2021 VS 2028
Figure 30:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, PROCESSED, 2016 - 2028
Figure 31:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, PROCESSED, 2016 - 2028
Figure 32:
NORTH AMERICA SEAFOOD MARKET, PROCESSED, VALUE SHARE (%), BY TYPE, 2021 VS 2028
Figure 33:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, BY DISTRIBUTION CHANNEL, 2016 - 2028
Figure 34:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, BY DISTRIBUTION CHANNEL, 2016 - 2028
Figure 35:
NORTH AMERICA SEAFOOD MARKET, VOLUME SHARE (%), BY DISTRIBUTION CHANNEL, 2016 VS 2022 VS 2028
Figure 36:
NORTH AMERICA SEAFOOD MARKET, VALUE SHARE (%), BY DISTRIBUTION CHANNEL, 2016 VS 2022 VS 2028
Figure 37:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, BY OFF-TRADE, 2016 - 2028
Figure 38:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, BY OFF-TRADE, 2016 - 2028
Figure 39:
NORTH AMERICA SEAFOOD MARKET, VOLUME SHARE (%), BY OFF-TRADE, 2016 VS 2022 VS 2028
Figure 40:
NORTH AMERICA SEAFOOD MARKET, VALUE SHARE (%), BY OFF-TRADE, 2016 VS 2022 VS 2028
Figure 41:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, CONVENIENCE STORES, 2016 - 2028
Figure 42:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, CONVENIENCE STORES, 2016 - 2028
Figure 43:
NORTH AMERICA SEAFOOD MARKET, CONVENIENCE STORES, VALUE SHARE (%), BY TYPE, 2021 VS 2028
Figure 44:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, ONLINE CHANNEL, 2016 - 2028
Figure 45:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, ONLINE CHANNEL, 2016 - 2028
Figure 46:
NORTH AMERICA SEAFOOD MARKET, ONLINE CHANNEL, VALUE SHARE (%), BY TYPE, 2021 VS 2028
Figure 47:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, SUPERMARKETS AND HYPERMARKETS, 2016 - 2028
Figure 48:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, SUPERMARKETS AND HYPERMARKETS, 2016 - 2028
Figure 49:
NORTH AMERICA SEAFOOD MARKET, SUPERMARKETS AND HYPERMARKETS, VALUE SHARE (%), BY TYPE, 2021 VS 2028
Figure 50:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, OTHERS, 2016 - 2028
Figure 51:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, OTHERS, 2016 - 2028
Figure 52:
NORTH AMERICA SEAFOOD MARKET, OTHERS, VALUE SHARE (%), BY TYPE, 2021 VS 2028
Figure 53:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, ON-TRADE, 2016 - 2028
Figure 54:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, ON-TRADE, 2016 - 2028
Figure 55:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, BY COUNTRY, 2016 - 2028
Figure 56:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, BY COUNTRY, 2016 - 2028
Figure 57:
NORTH AMERICA SEAFOOD MARKET, VOLUME SHARE (%), BY COUNTRY, 2016 VS 2022 VS 2028
Figure 58:
NORTH AMERICA SEAFOOD MARKET, VOLUME SHARE (%), BY COUNTRY, 2016 VS 2022 VS 2028
Figure 59:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, CANADA, 2016 - 2028
Figure 60:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, CANADA, 2016 - 2028
Figure 61:
NORTH AMERICA SEAFOOD MARKET, CANADA, VALUE SHARE (%), BY DISTRIBUTION CHANNEL, 2021 VS 2028
Figure 62:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, MEXICO, 2016 - 2028
Figure 63:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, MEXICO, 2016 - 2028
Figure 64:
NORTH AMERICA SEAFOOD MARKET, MEXICO, VALUE SHARE (%), BY DISTRIBUTION CHANNEL, 2021 VS 2028
Figure 65:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, UNITED STATES, 2016 - 2028
Figure 66:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, UNITED STATES, 2016 - 2028
Figure 67:
NORTH AMERICA SEAFOOD MARKET, UNITED STATES, VALUE SHARE (%), BY DISTRIBUTION CHANNEL, 2021 VS 2028
Figure 68:
NORTH AMERICA SEAFOOD MARKET, VOLUME IN METRIC TONNES, REST OF NORTH AMERICA, 2016 - 2028
Figure 69:
NORTH AMERICA SEAFOOD MARKET, VALUE IN USD, REST OF NORTH AMERICA, 2016 - 2028
Figure 70:
NORTH AMERICA SEAFOOD MARKET, REST OF NORTH AMERICA, VALUE SHARE (%), BY DISTRIBUTION CHANNEL, 2021 VS 2028
Figure 71:
NORTH AMERICA SEAFOOD MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2022
Figure 72:
NORTH AMERICA SEAFOOD MARKET, TOTAL NUMBER OF STRATEGIC MOVES, 2017 - 2022
Figure 73:
NORTH AMERICA SEAFOOD MARKET SHARE(%), BY KEY PLAYERS, 2021
Market Definition
- Frozen / Canned Seafood - Frozen seafood are products whose average temperature is reduced to -18 ° C or lower to preserve the inherent quality of the fresh fish. Then it is kept at a temperature of -18 ° C or lower to maintain its shelf life.
- Processed Seafood - Processed seafood are the ones that have been cured, salted, marinated, dried, pickled, fermented or smoked for human consumption.
- Seafood - It contains marine species that can be consumed, particularly fish and shelled marine life.
- Shrimp - Shrimp are swimming crustaceans. They have long, slender muscles in their abdomens and lengthy antennae.
Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step 1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set, and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
