Market Insights Consumer Food Fish & Seafood

Fresh Seafood - United States

United States

Revenue in the Fresh Seafood market amounts to €11.14bn in 2024. The market is expected to grow annually by 4.31% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€11,140m in 2024).
In relation to total population figures, per person revenues of €32.60 are generated in 2024.
In the Fresh Seafood market, volume is expected to amount to 296.60m kg by 2029. The Fresh Seafood market is expected to show a volume growth of 2.9% in 2025.
The average volume per person in the Fresh Seafood market is expected to amount to 0.8kg in 2024.

Key regions: South Korea, Canada, China, Japan, United States

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Analyst Opinion

The Fresh Seafood Market within The Food market in the United States has seen minimal growth, impacted by factors such as increasing competition, fluctuating prices, and changing consumer preferences towards healthier and sustainable seafood options. Despite this, the market continues to thrive due to the convenience and availability of online seafood services.

Customer preferences: As consumers become more health-conscious and environmentally aware, there has been a growing demand for sustainably-sourced and locally-caught seafood in the Fresh Seafood Market. This trend is driven by a desire for transparency and support for small, independent fishermen. Additionally, there is a rising interest in alternative seafood options, such as plant-based seafood substitutes, as consumers seek to reduce their carbon footprint and support sustainable food practices.

Trends in the market: In the United States, the Fresh Seafood market is experiencing an increase in demand for sustainable and traceable seafood products. This trend is driven by growing consumer awareness and concern for the environment and ethical sourcing. In response, companies are implementing sustainable practices and certifications, such as the Marine Stewardship Council, to meet this demand. This trajectory is significant as it not only satisfies consumer preferences, but also promotes the long-term viability of seafood stocks. For industry stakeholders, this trend presents an opportunity to differentiate their products and gain a competitive advantage in the market. Additionally, it may lead to potential partnerships with conservation organizations and government agencies to further promote sustainable fishing practices.

Local special circumstances: In the United States, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by geographical factors. With a vast coastline and access to both the Atlantic and Pacific oceans, the US has a diverse range of seafood options. Furthermore, the cultural importance of seafood in coastal regions, such as New England and the Gulf of Mexico, drives demand for fresh and locally sourced seafood. Regulatory factors also play a significant role, with strict regulations on fishing and seafood processing ensuring the safety and quality of seafood products.

Underlying macroeconomic factors: The Fresh Seafood Market in the United States is heavily influenced by macroeconomic factors such as consumer spending, economic growth, and government policies. With the growing trend of health-conscious consumers, the demand for fresh seafood has increased, driving market growth. Additionally, the stability of the US economy and low unemployment rates have resulted in increased consumer purchasing power and willingness to spend on premium and high-quality seafood products. Furthermore, government initiatives to promote sustainable fishing practices and support local seafood industries have also contributed to the market's growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.