Market Size of united states seafood Industry
Icons | Lable | Value |
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Study Period | 2017 - 2029 | |
Market Size (2024) | USD 24.36 Billion | |
Market Size (2029) | USD 25.93 Billion | |
Largest Share by Type | Fish | |
CAGR (2024 - 2029) | 1.26 % | |
Fastest Growing by Type | Shrimp | |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
United States Seafood Market Analysis
The United States Seafood Market size is estimated at 24.36 billion USD in 2024, and is expected to reach 25.93 billion USD by 2029, growing at a CAGR of 1.26% during the forecast period (2024-2029).
24.36 Billion
Market Size in 2024 (USD)
25.93 Billion
Market Size in 2029 (USD)
4.92 %
CAGR (2017-2023)
1.26 %
CAGR (2024-2029)
Largest Segment by Type
63.27 %
value share, Fish, 2023
The frozen form dominates the fish segment of the market as it is more readily available and less expensive. The higher shelf life of frozen fishes further drives its demand.
Largest Segment by Form
66.64 %
value share, Frozen, 2023
Frozen form of seafood has larger shelf life intact with all the nutrition, making it a highly preferred seafood form in both the on-trade and off-trade segments.
Fastest-growing Segment by Type
1.32 %
Projected CAGR, Shrimp, 2024-2029
The constantly increasing per capita shrimp consumption, mainly through the off-trade channel, is driving the growth. However, the on-trade channel holds a major market share.
Fastest-growing Segment by Form
1.47 %
Projected CAGR, Canned, 2024-2029
The increasing popularity of ready-to-eat and ready-to-cook food due to consumers' fast-paced lifestyle is projected to drive the demand for canned seafood in the country.
Leading Market Player
9.86 %
market share, Sysco Corporation, 2022
Sysco Corporation offers a wide selection of seafood species to the retail and food service sectors. These products are available in fresh, frozen, and prepared forms.
Hiking production potential to mitigate increasing demand for leaner protein sources and reduce import dependency is driving market growth
- The United States produced 7.8 million tons of fish (including mollusks and crustaceans) in 2022, with a value of USD 9,065.5 million. About 17% of this value came from aquaculture and 83% from fisheries. An important factor at play here is that the United States is a net importer of fish and fish products. To promote local production, the government has shown its support through many policies and ventures. The major seafood type consumed in the United States is the other seafood segment, while the fastest-moving segment is shrimp, which is projected to record a CAGR of 2.3% during the forecast period.
- In the United States, regulators implemented season-length restrictions, total allowable catch limits, and gear and vessel power restrictions to combat overfishing. As a result, fishermen adopted new technologies and methods to work around these controls. The United States witnessed a price hike of 2.4 per kg in 2022 from 19.3 per kg in 2017. The production of seafood from local aquaculture in the country has also been increasing, with the average value of production per employee in aquaculture seeing an increase of 28% compared to the previous decade.
- The market is poised to record a CAGR of 5.46% during the forecast period. The seafood industry is a major contributor to the country's economy. The United States is a key player in global aquaculture and the world's top importer of fish and fishery products. It also provides other producers worldwide with a range of cutting-edge technology, feed, equipment, and investment capital. Most of the seafood consumed in the United States, between 70 and 85%, is imported, and aquaculture is used to generate over half of it. The seafood trade deficit reached USD 17 billion in 2020.
United States Seafood Industry Segmentation
Fish, Shrimp are covered as segments by Type. Canned, Fresh / Chilled, Frozen, Processed are covered as segments by Form. Off-Trade, On-Trade are covered as segments by Distribution Channel.
- The United States produced 7.8 million tons of fish (including mollusks and crustaceans) in 2022, with a value of USD 9,065.5 million. About 17% of this value came from aquaculture and 83% from fisheries. An important factor at play here is that the United States is a net importer of fish and fish products. To promote local production, the government has shown its support through many policies and ventures. The major seafood type consumed in the United States is the other seafood segment, while the fastest-moving segment is shrimp, which is projected to record a CAGR of 2.3% during the forecast period.
- In the United States, regulators implemented season-length restrictions, total allowable catch limits, and gear and vessel power restrictions to combat overfishing. As a result, fishermen adopted new technologies and methods to work around these controls. The United States witnessed a price hike of 2.4 per kg in 2022 from 19.3 per kg in 2017. The production of seafood from local aquaculture in the country has also been increasing, with the average value of production per employee in aquaculture seeing an increase of 28% compared to the previous decade.
- The market is poised to record a CAGR of 5.46% during the forecast period. The seafood industry is a major contributor to the country's economy. The United States is a key player in global aquaculture and the world's top importer of fish and fishery products. It also provides other producers worldwide with a range of cutting-edge technology, feed, equipment, and investment capital. Most of the seafood consumed in the United States, between 70 and 85%, is imported, and aquaculture is used to generate over half of it. The seafood trade deficit reached USD 17 billion in 2020.
Type | |
Fish | |
Shrimp | |
Other Seafood |
Form | |
Canned | |
Fresh / Chilled | |
Frozen | |
Processed |
Distribution Channel | ||||||
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On-Trade |
United States Seafood Market Size Summary
The United States seafood market is a significant component of the national economy, characterized by its substantial import activities and growing domestic aquaculture sector. The market is driven by a diverse range of seafood products, with shrimp emerging as the fastest-growing segment. Despite challenges such as overfishing and high operational costs, the industry has seen technological advancements and regulatory measures aimed at sustainable fishing practices. The U.S. government has actively supported local seafood production through various policies and financial investments, reflecting its commitment to bolstering the domestic seafood industry. The market's growth trajectory is influenced by urbanization and the expanding middle class, which have increased demand for seafood products.
The U.S. seafood market is fragmented, with a few major players holding a significant share. The market's dynamics are shaped by both domestic production and international trade, with a notable reliance on imported seafood to meet consumer demand. Aquaculture plays a crucial role in the market, contributing significantly to the value of domestic seafood production. The industry faces ongoing challenges, including fluctuating fish prices and the impact of global demand on input costs. Recent developments, such as strategic collaborations and facility expansions, highlight the industry's efforts to enhance production capabilities and meet the evolving needs of the market.
United States Seafood Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)
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1.1 Type
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1.1.1 Fish
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1.1.2 Shrimp
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1.1.3 Other Seafood
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1.2 Form
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1.2.1 Canned
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1.2.2 Fresh / Chilled
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1.2.3 Frozen
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1.2.4 Processed
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1.3 Distribution Channel
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1.3.1 Off-Trade
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1.3.1.1 Convenience Stores
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1.3.1.2 Online Channel
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1.3.1.3 Supermarkets and Hypermarkets
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1.3.1.4 Others
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1.3.2 On-Trade
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United States Seafood Market Size FAQs
How big is the United States Seafood Market?
The United States Seafood Market size is expected to reach USD 24.36 billion in 2024 and grow at a CAGR of 1.26% to reach USD 25.93 billion by 2029.
What is the current United States Seafood Market size?
In 2024, the United States Seafood Market size is expected to reach USD 24.36 billion.