US Seafood Market Size
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Study Period: | 2016 - 2028 |
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Largest Share by Type: | Fish |
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Fastest Growing by Type: | Shrimp |
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CAGR: | 0.77 % |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
US Seafood Market Analysis
The United States Seafood Market is projected to register a CAGR of 0.77%
- 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 Form - Frozen / Canned : Frozen/canned seafood has larger shelf life intact with all the nutrition, making it a highly preferred seafood form in both the on-trade and off-trade segments.
- 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 Form - Processed : The increasing popularity of ready-to-eat and ready-to-cook food due to consumers' fast-paced lifestyle is projected to drive the demand for processed seafood in the country.
US Seafood Industry Segmentation
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.| Type | |
| Fish | |
| Shrimp | |
| Other Seafood |
| Form | |
| Fresh / Chilled | |
| Frozen / Canned | |
| Processed |
| Distribution Channel | ||||||
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| On-Trade |
US Seafood Market Trends
This section covers the major market trends shaping the US Seafood Market according to our research experts:
Fish is the largest segment by Type.
- The United States produced 5.2 million ton of fish (including mollusks and crustaceans) in 2018, with a value of USD 7,063.5 million. About 17% of this value came from aquaculture and 83% from fisheries. An important factor at play here is that the United States is a net importer of fish and fish products. To promote local production, the government has shown its support through many policies and ventures. The major seafood type consumed in the United States is the other seafood segment, while the fastest-moving segment is shrimp, which is projected to record a CAGR of 2.3% during the forecast period.
- The seafood industry in the United States is also one of the largest employers in the country. In 2018, employment in the seafood sector, including processing, accounted for 169,950 jobs. The production of seafood from local aquaculture in the country has also been increasing, with the average value of production per employee in aquaculture seeing an increase of 28% compared to the previous decade.
- The market is poised to record a CAGR of 0.77% during the forecast period. The seafood industry is a major contributor to the country's economy. The United States is a key player in global aquaculture and the world's top importer of fish and fishery products. It also provides other producers worldwide with a range of cutting-edge technology, feed, equipment, and investment capital. Most of the seafood consumed in the United States, between 70 and 85%, is imported, and aquaculture is used to generate over half of it. The seafood trade deficit reached USD 17 billion in 2020. The growth of aquaculture in the country may aid in reducing this deficit.
To understand key trends, Download Sample Report
US Seafood Industry Overview
The United States Seafood Market is fragmented, with the top five companies occupying 15.43%. The major players in this market are High Liner Foods Inc., Inland Seafood Inc, Mowi ASA, Sysco Corporation and Thai Union Group PCL (sorted alphabetically).
US Seafood Market Leaders
High Liner Foods Inc.
Inland Seafood Inc
Mowi ASA
Sysco Corporation
Thai Union Group PCL
*Disclaimer: Major Players sorted in no particular order
US Seafood Market News
- 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.
US 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
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. High Liner Foods Inc.
5.4.4. Inland Seafood Inc
5.4.5. Mowi ASA
5.4.6. Sysco Corporation
5.4.7. Thai Union Group PCL
5.4.8. Trident Seafood Corporation
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:
UNITED STATES SEAFOOD MARKET, FISH, PRICE IN USD/METRIC TONNES, 2016 - 2022
Figure 2:
UNITED STATES SEAFOOD MARKET, SHRIMP, PRICE IN USD/METRIC TONNES, 2016 - 2022
Figure 3:
UNITED STATES SEAFOOD MARKET, FISH, PRODUCTION IN METRIC TONNES, 2016 - 2028
Figure 4:
UNITED STATES SEAFOOD MARKET, SHRIMP, PRODUCTION IN METRIC TONNES, 2016 - 2028
Figure 5:
UNITED STATES SEAFOOD MARKET, VOLUME, METRIC TONNES, 2016 - 2028
Figure 6:
UNITED STATES SEAFOOD MARKET, VALUE, USD, 2016 - 2028
Figure 7:
UNITED STATES SEAFOOD MARKET, VOLUME IN METRIC TONNES, BY TYPE, 2016 - 2028
Figure 8:
UNITED STATES SEAFOOD MARKET, VALUE IN USD, BY TYPE, 2016 - 2028
Figure 9:
UNITED STATES SEAFOOD MARKET, VOLUME SHARE (%), BY TYPE, 2016 VS 2022 VS 2028
Figure 10:
UNITED STATES SEAFOOD MARKET, VALUE SHARE (%), BY TYPE, 2016 VS 2022 VS 2028
Figure 11:
UNITED STATES SEAFOOD MARKET, VOLUME IN METRIC TONNES, FISH, 2016 - 2028
Figure 12:
UNITED STATES SEAFOOD MARKET, VALUE IN USD, FISH, 2016 - 2028
Figure 13:
UNITED STATES SEAFOOD MARKET, FISH, VALUE SHARE (%), BY FORM, 2021 VS 2028
Figure 14:
UNITED STATES SEAFOOD MARKET, VOLUME IN METRIC TONNES, SHRIMP, 2016 - 2028
Figure 15:
UNITED STATES SEAFOOD MARKET, VALUE IN USD, SHRIMP, 2016 - 2028
Figure 16:
UNITED STATES SEAFOOD MARKET, SHRIMP, VALUE SHARE (%), BY FORM, 2021 VS 2028
Figure 17:
UNITED STATES SEAFOOD MARKET, VOLUME IN METRIC TONNES, OTHER SEAFOOD, 2016 - 2028
Figure 18:
UNITED STATES SEAFOOD MARKET, VALUE IN USD, OTHER SEAFOOD, 2016 - 2028
Figure 19:
UNITED STATES SEAFOOD MARKET, OTHER SEAFOOD, VALUE SHARE (%), BY FORM, 2021 VS 2028
Figure 20:
UNITED STATES SEAFOOD MARKET, VOLUME IN METRIC TONNES, BY FORM, 2016 - 2028
Figure 21:
UNITED STATES SEAFOOD MARKET, VALUE IN USD, BY FORM, 2016 - 2028
Figure 22:
UNITED STATES SEAFOOD MARKET, VOLUME SHARE (%), BY FORM, 2016 VS 2022 VS 2028
Figure 23:
UNITED STATES SEAFOOD MARKET, VALUE SHARE (%), BY FORM, 2016 VS 2022 VS 2028
Figure 24:
UNITED STATES SEAFOOD MARKET, VOLUME IN METRIC TONNES, FRESH / CHILLED, 2016 - 2028
Figure 25:
UNITED STATES SEAFOOD MARKET, VALUE IN USD, FRESH / CHILLED, 2016 - 2028
Figure 26:
UNITED STATES SEAFOOD MARKET, FRESH / CHILLED, VALUE SHARE (%), BY TYPE, 2021 VS 2028
Figure 27:
UNITED STATES SEAFOOD MARKET, VOLUME IN METRIC TONNES, FROZEN / CANNED, 2016 - 2028
Figure 28:
UNITED STATES SEAFOOD MARKET, VALUE IN USD, FROZEN / CANNED, 2016 - 2028
Figure 29:
UNITED STATES SEAFOOD MARKET, FROZEN / CANNED, VALUE SHARE (%), BY TYPE, 2021 VS 2028
Figure 30:
UNITED STATES SEAFOOD MARKET, VOLUME IN METRIC TONNES, PROCESSED, 2016 - 2028
Figure 31:
UNITED STATES SEAFOOD MARKET, VALUE IN USD, PROCESSED, 2016 - 2028
Figure 32:
UNITED STATES SEAFOOD MARKET, PROCESSED, VALUE SHARE (%), BY TYPE, 2021 VS 2028
Figure 33:
UNITED STATES SEAFOOD MARKET, VOLUME IN METRIC TONNES, BY DISTRIBUTION CHANNEL, 2016 - 2028
Figure 34:
UNITED STATES SEAFOOD MARKET, VALUE IN USD, BY DISTRIBUTION CHANNEL, 2016 - 2028
Figure 35:
UNITED STATES SEAFOOD MARKET, VOLUME SHARE (%), BY DISTRIBUTION CHANNEL, 2016 VS 2022 VS 2028
Figure 36:
UNITED STATES SEAFOOD MARKET, VALUE SHARE (%), BY DISTRIBUTION CHANNEL, 2016 VS 2022 VS 2028
Figure 37:
UNITED STATES SEAFOOD MARKET, VOLUME IN METRIC TONNES, BY OFF-TRADE, 2016 - 2028
Figure 38:
UNITED STATES SEAFOOD MARKET, VALUE IN USD, BY OFF-TRADE, 2016 - 2028
Figure 39:
UNITED STATES SEAFOOD MARKET, VOLUME SHARE (%), BY OFF-TRADE, 2016 VS 2022 VS 2028
Figure 40:
UNITED STATES SEAFOOD MARKET, VALUE SHARE (%), BY OFF-TRADE, 2016 VS 2022 VS 2028
Figure 41:
UNITED STATES SEAFOOD MARKET, VOLUME IN METRIC TONNES, CONVENIENCE STORES, 2016 - 2028
Figure 42:
UNITED STATES SEAFOOD MARKET, VALUE IN USD, CONVENIENCE STORES, 2016 - 2028
Figure 43:
UNITED STATES SEAFOOD MARKET, CONVENIENCE STORES, VALUE SHARE (%), BY TYPE, 2021 VS 2028
Figure 44:
UNITED STATES SEAFOOD MARKET, VOLUME IN METRIC TONNES, ONLINE CHANNEL, 2016 - 2028
Figure 45:
UNITED STATES SEAFOOD MARKET, VALUE IN USD, ONLINE CHANNEL, 2016 - 2028
Figure 46:
UNITED STATES SEAFOOD MARKET, ONLINE CHANNEL, VALUE SHARE (%), BY TYPE, 2021 VS 2028
Figure 47:
UNITED STATES SEAFOOD MARKET, VOLUME IN METRIC TONNES, SUPERMARKETS AND HYPERMARKETS, 2016 - 2028
Figure 48:
UNITED STATES SEAFOOD MARKET, VALUE IN USD, SUPERMARKETS AND HYPERMARKETS, 2016 - 2028
Figure 49:
UNITED STATES SEAFOOD MARKET, SUPERMARKETS AND HYPERMARKETS, VALUE SHARE (%), BY TYPE, 2021 VS 2028
Figure 50:
UNITED STATES SEAFOOD MARKET, VOLUME IN METRIC TONNES, OTHERS, 2016 - 2028
Figure 51:
UNITED STATES SEAFOOD MARKET, VALUE IN USD, OTHERS, 2016 - 2028
Figure 52:
UNITED STATES SEAFOOD MARKET, OTHERS, VALUE SHARE (%), BY TYPE, 2021 VS 2028
Figure 53:
UNITED STATES SEAFOOD MARKET, VOLUME IN METRIC TONNES, ON-TRADE, 2016 - 2028
Figure 54:
UNITED STATES SEAFOOD MARKET, VALUE IN USD, ON-TRADE, 2016 - 2028
Figure 55:
UNITED STATES SEAFOOD MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2022
Figure 56:
UNITED STATES SEAFOOD MARKET, TOTAL NUMBER OF STRATEGIC MOVES, 2017 - 2022
Figure 57:
UNITED STATES 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
