Description

Discover the latest Fish and Shellfish trends in the US and how they are impacting the Fish and Shellfish market. Our fish and shellfish market research report is packed with valuable insights on consumer attitudes, Fish and Shellfish market size, Fish and Shellfish market forecast and segmentation, and (different 3rd point). With this report, you’ll have the knowledge to stay ahead of the competition and keep your business growing.

Fish and Shellfish: Current Market Landscape

Sales for fish and shellfish have struggled to keep pace with the considerable inflation seen in the past year. Yet consumers are interested in incorporating more fish and shellfish into their diet, a desire somewhat challenged by a perception of some of the products as being higher-priced proteins. Pricing strategies and incentives can offset pricey perceptions, as can messaging that reinforces the convenience and time-savings of value-added fish/shellfish options into an overall perception of value.

US Fish and Shellfish — What consumers want and why

  • Fish and Shellfish Market Share:
    Growth came in both branded and private label options, which also include random weight offerings, pointing to signs that the allure of fresh and home cooking are still prevalent as consumers trade down from foodservice as well as up in the category or over from other proteins to navigate elevated prices everywhere. Brands and retailers can both play a role in helping shoppers to find new ways to plan, enjoy and find that value in fresh fish and shellfish with RTC/H value-added offerings, recipes, preparation tutorials and flavor-pairing suggestions. More than a third of category participants are interested in recipes that inspire use as an alternative to meat and poultry
  • Fish and Shellfish Market Size:
    Half of fish consumers (49%) ate three or more types of fish in the past three months. However, only two species were cited by even half of respondents (tuna and salmon). Only four by more than a quarter (cod and tilapia).
  • US Fish and Shellfish Industry Trends:
    In terms of purchase drivers, just over a quarter of all consumers (27%) cite wild-caught as a feature that would encourage them to buy more fish/ shellfish. Sustainably sourced options registered with just over a fifth, and independently certified/ verified and dolphin/turtle-friendly trailed further back. Furthermore, less than a quarter of category users say they would pay more for seafood from a certified sustainable fishery. Less than a sixth say sustainability concerns have prompted them to reduce their consumption of fish/shellfish.

Fish and Shellfish Market Trends and Opportunities

Brands have taken initiative to meet the call for sustainability, yet the ubiquity of these claims may have become a confusing example of white noise, a given in the minds of consumers. Messaging simplification may be what helps brands get more mileage of their efforts. In a sea often dominated by private label offerings, sustainability is a premium driver, especially among younger adults.

Read on to discover more about the Fish and Shellfish consumer market, read our US Understanding Consumer Barriers to Buying Fresh Food Online Market Report 2019, or take a look at our other Food Retail research reports.

Quickly Understand the Fish and Shellfish Industry

  • Consumption of fish and shellfish by species and package format.
  • Restaurant consumption of fish and shellfish.
  • Purchase drivers for fish and shellfish.
  • Flavor interests by fish and shellfish species.
  • Attitudes toward fish and shellfish.

Covered in This Seafood Industry Report

Leading Brands in the Fish and Shellfish Market / Industry: D0ngwon, FCF Fishery Co, Nippon Suisan Kaisha, Rich Products, Tri-Union Seafoods, Conagra Brands, Aqua Star, Great American Seafood Imports, Beaver Street Fisheries, Stanley Pearlman Enterprises, Trans-Ocean, Acme Smoked Fish Corp, Ocean Beauty Seafoods, Vita Food Products, Ducktrap River of Maine, Multiexport Foods, Trident Seafoods Corporation, Seafood America.

Expert Analysis from a Specialist in the Field

This report, written by Billy Roberts, a leading analyst in the Food and Drink sector, delivers in-depth commentary and seafood market analysis to highlight current trends and add expert context to the numbers.

Fish and shellfish fans are conflicted: drawn to the health, taste and often premium experience the category represents, yet everyday occasions and frequency are challenged by limited perceptions of ease, versatility and predictably and price. Brands and retailers can help reshape these ideas and break down barriers with simplification, flavorful DIY preparations or even prepared options that match the desire for taste exploration with ease.
Billy Roberts, Senior Analyst
Billy Roberts
Sr. Analyst, Food and Drink

Table of Contents

  1. Overview

    • What you need to know
      • This Report looks at the following areas:
        • Market context
        • Executive Summary

            • Top takeaways
              • Consumer trends
                • Fish and shellfish fans stick mostly with what they know
                  • Figure 1: Fish species consumed, 2023 versus 2022
                  • Figure 2: Shellfish consumption, 2022
                • Frozen purchase dominance = need for new routines
                  • Figure 3: Seafood purchase by format, 2023
                • Younger adults hungry for shortcuts to flavor and elevated taste
                  • Figure 4: Fish/shellfish preparation method, by age, 2023
                  • Figure 5: Fish/shellfish purchase drivers, by age, 2023
                • Competitive strategies
                  • Spice it up with culinary-inspired flavors
                    • Figure 6: Fish/shellfish launches with hot or spicy flavors, 2023
                  • Doubling down on natural nutritional function
                    • Figure 7: US fish/shellfish introductions with health message, 2023
                  • Market predictions
                    • Category sales slow, fail to keep pace with inflation
                      • Figure 8: Total US sales and fan chart forecast of fish/shellfish, at current prices, 2017-27
                      • Figure 9: Total US retail sales and forecast of fish and shellfish, at current prices, 2017-27
                      • Figure 10: Fish and shellfish outlook, 2023-28
                    • Opportunities
                      • Use value adds, elevated experience to disrupt segment status
                        • Clear up the sustainable confusion
                          • Play up both health and indulgence through flavor
                          • Market Size and Forecast

                            • Inflation-adjusted sales show category challenges
                              • Figure 11: Total US sales and fan chart forecast of fish/shellfish, at current prices, 2017-27
                              • Figure 12: Total US retail sales and forecast of fish and shellfish, at current prices, 2017-27
                              • Figure 13: Total US retail sales and forecast of fish and shellfish, at inflation-adjusted prices, 2017-27
                          • Segment Performance

                            • Segments remain considerably ahead of pre-COVID levels
                              • Figure 14: Total US retail sales and forecast of fish and shellfish, by segment, at current prices, 2017-27
                              • Figure 15: Total US retail sales and forecast of fish and shellfish, by segment, at current prices, 2017-27
                          • Market Drivers

                            • Inflationary pressures ease but prices remain high
                              • Figure 16: Forecast changes in Consumer Price Indexes for food, 2022-23
                            • Families are key demos for seafood, but a shrinking one
                              • Figure 17: Households by presence of own children, 2010-20
                            • Brands can get value out of sustainability
                              • Figure 18: Sustainability attitudes, by generation, 2023
                            • The future of seafaux unlikely to be plant-based
                            • Market Share/Key Players

                              • Private label falters, maintains overall market share lead
                                • Sales of fish/shellfish by company
                                  • Figure 19: Sales of fish and shellfish, by company, 2021-22
                                • Company/brand sales by segment
                                  • Brand polarization in a fragmented fresh segment
                                    • Figure 20: Multi-outlet sales of fresh fish and shellfish, by leading companies and brands, rolling 52 weeks 2021 and 2022
                                  • Brands gain on private label’s dominance in frozen
                                    • Figure 21: Multi-outlet sales of frozen fish and shellfish, by leading companies and brands, rolling 52 weeks 2021 and 2022
                                  • Shelf-stable brands offer a messaging and flavor refresh
                                    • Figure 22: Multi-outlet sales of shelf-stable fish and shellfish, by leading companies and brands, rolling 52 weeks 2021 and 2022
                                • Competitive Strategies and Market Opportunities

                                  • Frozen brands expand flavor potential with diverse prep methods
                                    • Figure 23: Fish/shellfish with alternative preparation suggestions, 2023
                                  • Brands spice it up with foodservice-inspired trends
                                    • Figure 24: Fish/shellfish launches with hot or spicy flavors, 2023
                                  • Functional benefits are a natural for the category
                                    • Figure 25: Seafood purchase by format, 2023
                                  • Clear up confusing sustainability claims
                                      • Figure 26: Sustainable fish/shellfish launches, US, 2023
                                      • Figure 27: Willingness to pay more for sustainable fish/shellfish, by generation, 2023
                                    • Plant-based competition may be missing the boat
                                      • Figure 28: Plant-based fish launches in North America, 2023
                                  • The Fish and Shellfish Consumer – Fast Facts

                                    • Category consumption is considerably fragmented
                                      • Spicier flavors appeal to younger consumers
                                        • Keep sustainability in perspective
                                        • Fish Consumption

                                          • Keeping momentum for fish brands calls for even more convenience
                                            • Figure 29: Fish species consumed, 2023 versus 2022
                                          • Use flavor to connect with both parents (as adults) and non-parents
                                            • Figure 30: Fish consumption, by parental status, 2023
                                            • Figure 31: Repertoire of fish types eaten, by parental status, 2023
                                        • Shellfish Consumption

                                          • Invigorate sluggish shellfish use with foodservice-inspired ideas
                                            • Figure 32: Shellfish consumption, 2023 versus 2022
                                          • Younger adult use points to potential to deepen engagement
                                            • Figure 33: Repertoire of shellfish consumption, by age, 2023
                                          • Nurture the balance between dining out and at-home occasions with long-term affordability, experience
                                            • Figure 34: Restaurant purchase of select fish/shellfish, 2023
                                        • Seafood Purchase by Format

                                          • Prevalence of frozen purchase points to need for more routine occasions
                                            • Figure 35: Seafood purchase, by format, 2023
                                          • Use flavor, experience to disrupt presumed segment roles
                                            • Figure 36: Fish/shellfish purchase, by presence and age of children in household, 2023
                                          • Under 55s looking for shortcuts to flavor and elevated taste
                                            • Figure 37: Fish/shellfish preparation method, by age, 2023
                                        • Fish/Shellfish Purchase Drivers

                                          • Quality, convenience, time-savings can take the sting out of price sensitivity
                                            • Figure 38: Fish/shellfish purchase drivers, 2023
                                          • Feed into younger consumer interest in exploring fish and shellfish
                                            • Figure 39: Fish/shellfish purchase drivers, by age, 2023
                                        • Flavors with Fish/Shellfish

                                          • Balance health and indulgence through flavor application
                                            • Figure 40: Flavor interest in fish, 2023
                                          • Heat it up to reach younger palates
                                            • Figure 41: Flavor interest in fish, by age and gender, 2023
                                            • Figure 42: Flavor interest in shellfish, by age and gender, 2023
                                          • Shellfish eaters open to broader flavors
                                            • Figure 43: Flavor interest in shellfish, 2023
                                        • Attitudes toward Fish/Shellfish

                                          • Help consumers make more out of what they buy
                                            • Figure 44: Attitudes toward fish/shellfish, 2023
                                          • Easy, global tastes are the key to reach Millennials, Gen Z
                                            • Figure 45: Attitudes toward fish/shellfish, by generation, 2023
                                          • Parents are at the core of sustainability influence
                                            • Figure 46: Attitudes toward fish/shellfish, by parental status, 2023
                                        • Appendix – Data Sources and Abbreviations

                                          • Data sources
                                            • Sales data
                                              • Forecast
                                                • Consumer survey data
                                                  • Abbreviations and terms
                                                    • Abbreviations
                                                    • Appendix – The Market

                                                        • Figure 47: Total US retail sales and forecast of fish and shellfish, at current prices, 2017-27
                                                        • Figure 48: Total US retail sales and forecast of fish and shellfish, at inflation-adjusted prices, 2017-27
                                                        • Figure 49: Total US retail sales and forecast of fish and shellfish, by segment, at current prices, 2017-27
                                                        • Figure 50: Total US retail sales and forecast of fresh fish and shellfish, at current prices, 2017-27
                                                        • Figure 51: Total US retail sales and forecast of fresh fish and shellfish, at inflation-adjusted prices, 2017-27
                                                        • Figure 52: Total US retail sales and forecast of frozen fish and shellfish, at current prices, 2017-27
                                                        • Figure 53: Total US retail sales and forecast of frozen fish and shellfish, at inflation-adjusted prices, 2017-27
                                                        • Figure 54: Total US retail sales and forecast of shelf-stable fish and shellfish, at current prices, 2017-27
                                                        • Figure 55: Total US retail sales and forecast of shelf-stable fish and shellfish, at inflation-adjusted prices, 2017-27
                                                    • Appendix – Companies and Brands

                                                        • Figure 56: Sales of fish and shellfish, by company, 2021-22
                                                        • Figure 57: Multi-outlet sales of fresh fish and shellfish, by leading companies and brands, rolling 52 weeks 2021 and 2022
                                                        • Figure 58: Multi-outlet sales of frozen fish and shellfish, by leading companies and brands, rolling 52 weeks 2021 and 2022
                                                        • Figure 59: Multi-outlet sales of shelf-stable fish and shellfish, by leading companies and brands, rolling 52 weeks 2021 and 2022
                                                    • Appendix – Consumer

                                                        • Figure 60: Average annual household spending on fish and shellfish, 2017-22
                                                    • Appendix – Retail Channels

                                                        • Figure 61: Total US retail sales of fish and shellfish, by channel, at current prices, 2017-22
                                                        • Figure 62: Total US retail sales of fish and shellfish, by channel, at current prices, 2020 and 2022
                                                        • Figure 63: US supermarket sales of fish and shellfish, at current prices, 2017-22
                                                        • Figure 64: US sales of fish and shellfish through other retail channels, at current prices, 2017-22

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