United States Seafood Market Forecast Report by Form (Fresh, Frozen, Ambient, Canned & Processed Seafood), Type (Fish, Crustaceans, Molluscs, Others), Application (Retail, Institutions, Food Service) States and Company Analysis 2024-2032

United States Seafood Market Forecast Report by Form (Fresh, Frozen, Ambient, Canned & Processed Seafood), Type (Fish, Crustaceans, Molluscs, Others), Application (Retail, Institutions, Food Service) States and Company Analysis 2024-2032

United States Seafood Market Size

The United States Seafood market is expected to reach US$ 53.56 Billion in 2023 to US$ 69.95 Billion by 2032, with a CAGR of 3.01 % from 2024 to 2032. The primary factors propelling the market expansion are the increasing demand for food products high in protein and the growing health consciousness of consumers.

United States Seafood Overview

Eating aquatic animals that are part of a wide variety of culinary traditions is referred to as seafood. Anchovies, bass, pomfrets, bluefish, carp, cod, flounder, haddock, halibut, herring, mahi-mahi, salmon, sardines, trout, and tuna are among the many fish that fall into this category. It also includes a variety of crustaceans and shellfish, including clams, abalone, conch, oysters, scallops, calamari, crayfish, lobster, prawns, and shrimp.

Seafood also includes caviar, which is the roe or unfertilized eggs from the sturgeon family. It also strengthens the immune system, improves calcium absorption, and encourages the development of strong bones. Eating seafood lowers the risk of neurodegenerative diseases such amyotrophic lateral sclerosis, Parkinson's disease, and Alzheimer's disease. This improves brain health. Seafood is becoming more and more popular because of its benefits for eyesight and decreased risks associated with eye conditions.

Growth Drivers for the United States Seafood Market

Market expansion is being driven by rising production potential to offset rising demand for leaner protein sources and lessen reliance on imports.

With a total value of USD 9,065.5 million, the United States produced 7.8 million tons of fish in 2022 (including mollusks and crustaceans). Fisheries accounted for 83% of this value, with aquaculture contributing for 17%. The fact that the US is a net importer of fish and fish products is a significant role in this situation. The government has demonstrated its support for local production through a number of initiatives and policies.

To prevent overfishing, US regulators-imposed limitations on gear and vessel power, as well as season-long and total permissible catch limits. Fishermen therefore developed new tools and techniques to get above these restrictions.

The economy of the nation is significantly influenced by the fisheries sector. The world's largest importer of fish and fisheries products, the United States plays a significant role in aquaculture worldwide. Additionally, it offers a variety of state-of-the-art technologies, feed, equipment, and investment capital to other manufacturers across the globe. Between 70 and 85 percent of the seafood eaten in the United States is imported, with aquaculture producing more than half of it.

Awareness of health

As customers become more aware of the nutritional advantages of seafood, health consciousness plays a significant role in the expansion of the seafood business in the United States. Omega-3 fatty acids, which are abundant in seafood, have been shown to improve cognitive function, lower inflammation, and support heart health. It also offers lean protein, which is necessary for the development and repair of muscles, and is an excellent source of vitamins and minerals like selenium, iodine, and vitamin D. An increased understanding of the health advantages is encouraging more people to include seafood in their diets as part of a well-rounded and nutrient-dense eating plan. Consequently, there is a growing market for fish goods due to people's desire for healthier dietary options and growing attention to their general well-being.

Florida Seafood Industry

The state's economy heavily depends on the seafood sector in Florida, which is renowned for its wide range of products and significant economic influence. Florida is a major player in the U.S. seafood industry thanks to its long coastline and access to the Atlantic and Gulf of Mexico. The sector produces a wide range of fresh and varied goods, including shrimp, grouper, snapper, and oysters. It also includes commercial fishing, aquaculture, and seafood processing.

Due to Florida's advantageous climate and strategic position, which support a wide diversity of seafood species, the state's commercial fishing industry is thriving. The fishermen in the state are renowned for using sustainable methods, making sure that their activities abide by laws intended to protect maritime ecosystems. The industry's long-term survival is supported by this emphasis on sustainability, which also serves to preserve the health of fish populations.

A developing sector of Florida's seafood market is aquaculture. In order to improve farmed seafood production, lessen dependency on wild capture, and address issues with seafood supply, the state has made investments in the development of technologies and methods. This involves the production of species that are essential for satisfying domestic demand, such as farmed shrimp and oysters.

Apart from the commercial and aquaculture activities, the seafood processing industry in Florida is significant. Processing facilities prepare, package, and distribute goods to local, national, and international markets, adding value to raw fish. All things considered, the seafood sector in Florida not only creates jobs and generates export income for the state, but it also fosters a diverse culinary scene and a maritime legacy.

United States Seafood Company Analysis

The major participants in the United States Seafood market includes Admiralty Island Fisheries Inc., Beaver Street Fisheries, High Liner Foods Inc., Inland Seafood Inc., Mowi ASA, NH Foods Ltd, Sysco Corporation, Thai Union Group PCL.

United States Seafood Company News

In May 2023, Trident Seafood Corporation and Copper River Prince William Sound Marketing Association have partnered to launch a new line of prized fish products on the US market.

In April 2023, Jefferson Parish is home to the new location that Inland Seafood established. They brought 55 jobs to Jefferson Parish by investing over USD 4 million to buy and renovate a 14,000-square-foot property in Elmwood.

In January 2023, Lonestar Seafood, headquartered in Texas, was purchased by Inland Seafood in order to grow their business in the western region of the US. The Texas-based provider has a stellar reputation for providing high-quality lobsters.

Form- Industry is divided into 4 viewpoints:

1. Fresh
2. Frozen
3. Ambient
4. Canned & Processed Seafood

Type- Industry is divided into 4 viewpoints:

1. Fish
2. Crustaceans
3. Molluscs
4. Others

Application- Industry is divided into 3 viewpoints:

1. Retail
2. Institutions
3. Food Service

States: Industry is divided into 29 Countries

• California
• Texas
• New York
• Florida
• Illinois
• Pennsylvania
• Ohio
• Georgia
• New Jersey
• Washington
• North Carolina
• Massachusetts
• Virginia
• Michigan
• Maryland
• Colorado
• Tennessee
• Indiana
• Arizona
• Minnesota
• Wisconsin
• Missouri
• Connecticut
• South Carolina
• Oregon
• Louisiana
• Alabama
• Kentucky
• Rest of United States

All companies have been covered with 5 Viewpoints

1. Overview
2. Key Persons
3. Recent Development & Strategies
4. Product Portfolio
5. Financial Insight

Company Analysis

1. Admiralty Island Fisheries Inc.
2. Beaver Street Fisheries
3. High Liner Foods Inc.
4. Inland Seafood Inc.
5. Mowi ASA
6. NH Foods Ltd
7. Sysco Corporation
8. Thai Union Group PCL

Key Questions Answered in Report:

1. How big is the United States Seafood industry?
2. What is the United States Seafood industry growth rate?
3. Who are the key players in United States Seafood industry?
4. What are the factors driving the United States Seafood industry?
5. Which Region held the largest market share in the United States Seafood industry?
6. What segments are covered in the United States Seafood Market report?