Fish & Seafood Markets in the US - Industry Market Research Report

Fish & Seafood Markets in the US - Industry Market Research Report

  • July 2021 •
  • 37 pages •
  • Report ID: 198911 •
  • Format: PDF
Flipping fins: Increasing consumer spending and steady demand will likely benefit industry operators

Abstract

Fish & Seafood Markets in the US
The Fish and Seafood Markets industry has experienced moderate growth over the five years to 2019, primarily as a result of increasing per capita seafood consumption and rising consumer spending. Moreover, industry performance has also been supported by increases in per capita disposable income, which have facilitated higher-margin purchases of industry products. In addition, interest in the health benefits of seafood consumption has driven industry growth over the past five years; however, pricing and consumer trends have also affected both industry revenue and profit. Increased selling prices have garnered higher revenue per sale for industry operators, while growing seafood consumption and disposable incomes indicate that higher selling prices are not limiting demand for industry products. As a result, industry revenue has increased during the current period. Industry revenue is forecast to continue to rise over the five years to 2024, albeit at a slower rate. Although per capita seafood consumption is projected to increase over the next five years, the price of seafood is anticipated to expand as well, hindering industy performance.

Fish and seafood markets primarily retail fresh, frozen and cured fish and seafood items, such as tuna, salmon, lobster and shrimp. Products are sold at various brick-and-mortar locations including independent markets, delicatessens, fishmongers and butcher shops. Fish and seafood markets and counters operating within a supermarket are excluded from this industry, as are online sales of fish products.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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