United States Frozen and Canned Seafood Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

United States Frozen and Canned Seafood Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The United States Frozen and Canned Seafood Market is projected to register a CAGR of 0.86%

Key Highlights

• Largest Segment by Distribution Channel - On-Trade : Restaurants prefer fish, clams, and other delicacies due to their consistent pricing and great value. Seafood is used as an ingredient in pasta, rice, wraps, and soups.
• Fastest-growing Segment by Distribution Channel - Off-Trade : The rising preference to buy essential groceries online during the pandemic drove the channel. The growth may be assisted by better consumer reach through digital marketing.

Key Market TrendsFish is the largest segment by Type.

• The frozen/canned shrimp segment dominates the market with an increase in the Y-o-Y growth rate of 6% from 2020 to 2021. The primary factors influencing the market for frozen fish in the United States are the rising demand for convenience meals like ready-to-eat and ready-to-cook foods and the rising consumer awareness of health issues. For those with busy schedules and stressful lifestyles, these products shorten the cooking time.
• Due to supply chain disruption during the COVID-19 pandemic, fresh, chilled, and live seafood became more difficult to obtain. Consumer preferences resulted in a shift that favored shelf-stable seafood products, such as canned and frozen items. Frozen seafood sales reportedly increased by 5.36% in 2020.
• Frozen Shrimp is the fastest-growing segment of the frozen and canned seafood market in the United States, which is expected to register a CAGR value of 2.46% during the forecast period. The sales of frozen shrimp in the United States also increased by 4.5% in 2021. The US dietary guidelines recommend eating at least 8 ounces of seafood per week, of which consumption of frozen/canned shrimp products was one of the major sources of dietary seafood protein. And the prices of frozen shrimp are at a constant level when compared to other seafood.
• The average American consumes less than 3.5 pounds of canned fish a year, and it has been progressively declining over the past three decades since canned seafood has had a poor response in the United States. The US frozen and canned seafood market is expected to register a CAGR of 0.86%.

Competitive Landscape

The United States Frozen and Canned Seafood Market is fragmented, with the top five companies occupying 16.79%. The major players in this market are High Liner Foods Inc., Mowi ASA, Sysco Corporation, Thai Union Group PCL and Trident Seafood Corporation (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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