United States (USA) Seafood Market Overview, 2029

United States (USA) Seafood Market Overview, 2029

The US seafood market is an important part of the country's food sector, supplying a wide variety of goods from both wild-caught and farmed sources. The industry can trace its origins back to indigenous peoples who relied on bountiful coastal and freshwater resources. With European colonisation, fishing became more organised, eventually resulting in a thriving commercial fishing industry. By the twentieth century, the United States had established itself as a key player in the worldwide seafood market, with large fisheries in New England, the Gulf of Mexico, and Alaska. Fishing tactics have evolved from manual methods to contemporary trawling and aquaculture systems as technology has advanced. The emergence of aquaculture, notably in the late twentieth and early twenty-first centuries, was a game changer, helping to meet rising seafood demand while natural stocks were threatened by overfishing. The United States seafood market is managed by a complex collection of policies and regulations designed to ensure sustainability, food safety, and economic viability. The Magnuson-Stevens Fishery Conservation and Management Act, passed in 1976, is the fundamental law that oversees marine fisheries in federal seas. Its primary goals are to avoid overfishing, rehabilitate overfished stocks, and ensure that fishery resources are managed for the nation's long-term advantage. The National Oceanic and Atmospheric Administration (NOAA) works closely with regional fishery management councils to ensure that these requirements are followed. Along with that, the United States participates in a number of international accords aimed at combating illegal, unreported, and unregulated (IUU) fishing, demonstrating its commitment to sustainable methods.

According to the research report ""USA Seafood Market Overview, 2029,"" published by Bonafide Research, the USA seafood market is anticipated to grow at more than 4.90% CAGR from 2024 to 2029. The seafood market in the United States has expanded rapidly, owing to increased consumer demand for healthy, protein-rich diets and the popularity of various culinary trends. The market's significance extends beyond its contribution to the nation's food supply; it also plays an important role in the economy, providing thousands of jobs in fishing, processing and distribution. The United States is one of the world's largest seafood consumers, with considerable percentages sourced from both domestic seas and imports. Along with that, the trend of ""local and fresh"" has gained traction, with more Americans preferring locally fished seafood over imported types. Plant-based and alternative seafood products are becoming increasingly popular as people seek environmentally sustainable solutions. The United States relies significantly on imports to supply its seafood consumption, with key import partners including China, Canada, Thailand, Indonesia, and Vietnam. These countries provide a large share of the seafood consumed in the United States, including prawns, tilapia, and salmon. The import market is critical for ensuring year-round supply of diverse seafood products, as domestic production cannot fulfil strong consumer demand. Trident Seafoods, Bumble Bee Foods, and Mowi USA are among the major players in the United States seafood sector. These corporations dominate the market thanks to their huge supply chains, which include fishing operations, processing plants, and distribution networks.

In the US seafood market, both farm-raised (aquaculture) and wild-caught seafood play important roles, with each having distinct advantages and disadvantages. In the United States, the farm-raised category is expanding rapidly, owing to a variety of factors. For starters, aquaculture provides a steady and predictable supply of seafood, putting less strain on wild fish species, many of which are under threat from overfishing and environmental changes. As the global demand for seafood rises, aquaculture provides a sustainable solution to meet this demand while preserving natural resources. Following, advances in aquaculture technology and techniques have increased the efficiency and environmental impact of farmed seafood, making it more appealing to both farmers and consumers. In contrast, while the wild-caught segment is still important, it is facing growth constraints due to stronger laws aimed at limiting overfishing and conserving marine habitats. However, wild-caught seafood is frequently preferred for its natural flavour, texture, and perceived higher quality, sustaining significant demand in some market segments, notably among chefs and consumers who value traditional and premium items. Trident Seafoods is a major player in wild-caught seafood, well known for its Alaskan pollock, salmon, and crabs. Pacific Seafood is another prominent corporation that operates in both the wild-caught and farmed sectors, offering a diverse range of seafood products. Cooke Aquaculture is a significant supplier in the farm-raised industry, particularly for its farmed salmon, a market staple in the United States.

Several factors are driving the greater growth of the processed seafood category over that of fresh seafood. For starters, consumers are increasingly looking for quick and fast meal options, and processed seafood meets this requirement wonderfully. Products such as frozen fish fillets, canned tuna, and ready-to-eat seafood snacks provide rapid, hassle-free preparation, catering to the busy lifestyles of many Americans. Fresh seafood, while still popular, confronts constraints that limit its growth when compared to processed items. The perishability of fresh fish necessitates good cold chain operations to ensure quality from catch to customer, which can be costly and difficult. Along with that, fresh fish is more sensitive to seasonal availability and geographic constraints, making it less reliable in supply than processed alternatives. Trident Seafoods and Pacific Seafood are well-known fresh seafood enterprises that offer both wild-caught and farm-raised items. Santa Monica Seafood, another significant competitor, is well-known for its high-quality fresh seafood products and strong presence on the West Coast of the United States. Distributors like Sysco and US Foods play critical roles in both the fresh and processed seafood marketplaces, ensuring that these goods reach a diverse range of merchants, foodservice providers, and customers.

Fish is the most often consumed seafood category in the United States, with popular species including salmon, tuna, cod, and tilapia. Fish has dominated the market due to its versatility, health benefits, and widespread availability. Tuna, particularly canned tuna, is a mainstay in American households. The seafood market is expanding, driven by rising demand for healthy protein sources and increased aquaculture, which assures a consistent supply of popular species such as salmon and tilapia. Crustaceans, which include prawns, crab and lobster, are a highly profitable section of the US seafood market. Shrimp is the most popular seafood in the United States, fuelling the crustacean market's expansion. The versatility of prawns in cooking, its low cost, and availability in both fresh and frozen versions have all contributed to their popularity. Domestic production and imports, mainly from India, Thailand, and Vietnam, help to drive the expansion of the crustacean segment. Leading crustacean providers include Eastern Fish Company, one of the largest prawn importers in the United States, and Clearwater Seafoods, a key player in the North American lobster market. Molluscs, which include species such as clams, oysters, mussels, and squid, are another key component of the US seafood business, however they cater to smaller consumers.

In the US seafood market, supermarkets, convenience stores, speciality stores, and internet distribution channels all play different roles in meeting consumer demand for seafood. Among these channels, supermarkets presently dominate the US seafood sector. Their broad reach, diverse seafood offerings, and ability to satisfy everyday consumer demands make them the main distribution channel. Major grocery chains such as Walmart, Kroger, and Safeway often feature specialised fish aisles, making them the principal source for household seafood purchases. Convenience stores, on the other hand, offer a smaller assortment of seafood, focussing on quick, easy selections for customers. While convenience stores are not important players in the larger seafood business, they cater to a specific section of customers who value convenience above variety. Speciality stores, such as seafood markets and gourmet shops, offer a more carefully chosen variety of seafood, frequently emphasising quality and freshness. These establishments cater to customers looking for high-quality, fresh seafood, including speciality items such as live lobsters, oysters, and exotic fish. Online distribution channels have grown significantly in recent years, owing to the rise of e-commerce and shifts in consumer purchasing habits. Online seafood vendors and subscription services like Vital Choice and Crowd Cow provide the ease of home delivery.

Frozen seafood, salted seafood, dried seafood, smoked seafood, and canned or pickled seafood all have distinct preservation methods that cater to diverse consumer tastes and needs in the United States seafood market. The most popular category is frozen seafood, which has grown to become the market leader. Frozen seafood has various advantages, including a long shelf life, convenience, and a diverse range of goods available year-round. It caters to both the retail and foodservice industries, offering everything from basic fillets and prawns to more specialised goods. The frozen fish industry benefits from advances in freezing technology and logistics, which keep items high-quality and accessible. Major seafood corporations such as Trident Seafoods and High Liner Foods are key players in this market. While salted seafood is less popular in the United States than frozen seafood, it is nevertheless used in several ethnic markets and culinary uses. Salted seafood is preserved with salt, which inhibits bacterial development and increases shelf life. Dried seafood is created by eliminating moisture from the seafood, preventing deterioration and allowing for long-term storage. This preservation method is popular in Asian cuisines and among consumers looking for easy, shelf-stable snacks. While dried fish is not frequently consumed in mainstream U.S. markets, it has a following among speciality cuisine lovers and ethnic communities.



Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Seafood market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Source
• Farm Raised
• Wild Caught

By Form
• Processed
• Fresh

By Type
• Fish
• Crustaceans
• Molluscs
• Others (sea cucumbers, sea urchins,)

By Distribution Channel
• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Store
• Others (wholesale markets, direct sales from fishermen)

By Category
• Frozen Seafood
• Salted Seafood
• Dried Seafood
• Smoked Seafood
• Others (canned or pickled seafood)

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Seafood industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.
Keywords:
Seafood, Farm Raised, Wild Caught, Processed, Fresh, Fish, Crustaceans, Molluscs, sea cucumbers, sea urchins, Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Store, Wholesale markets, direct sales from fishermen, Frozen Seafood, Salted Seafood, Dried Seafood, Smoked Seafood, canned or pickled seafood