North America Seafood Market Outlook, 2029

From New York's bustling markets to the seafood restaurants lining the coastal city of Vancouver, there is a journey into the vast unknown that the North American seafood market is making with sustainability at the helm. This comprises the focal points of the North American seafood market are sustainability in the context of avoiding overfishing and ensuring responsible sourcing. Both the U.S. and Canada put forward strict regulations made on sea food, and they are the convectors for having imbibed proper measures to assure that their Seafood, according to the Federal guidelines, has been procured in the ways that would support marine ecosystems and assure fish for times to come.

The Sea Food Market in North America reflects a lot of flexibility as the consumer requirements of Seafood products keeps changing according to the demand, so also the price elasticity of demand keeps on changing. Companies are now, better than ever, diversifying the range in their product listings to bring plant-based and other alternate seafood ranges to match modern dietary preferences. Moreover, it is nurturing new types of delivery platforms such as online sales or direct-to-consumer delivery to cater to the demand for convenience. Where North American countries have good domestic seafood industries-USA and Canada being the major ones, Alaska largely comes across as a hub for fish that are wild-caught.

Though the region contributes a large quantity of seafood, it imports even higher amounts, especially of shrimp, tuna, and tilapia, to meet greater consumer demand. The leading concerns about seafood in North America are environmental, including overfishing, climate change, and ocean plastic pollution. All of these issues present major concerns for marine biodiversity and fish stocks. In response, efforts are increasingly being taken to decrease the carbon footprints of seafood supply chains, enhance fuel efficiency in fisheries, and protect marine habitats through the establishment of Marine Protected Areas.

According to the research report "North America Sea Food Market Outlook, 2029" the North America Sea Food market was valued at more than USD 46 Billion in 2023. The seafood market in North America sees a steady increase as consumers want more healthy and sustainable food options. Further, growing awareness of the dietary nutrition of seafood, government initiatives to support sustainable fishing and aquaculture, and growth in export markets, especially towards Asia and Europe, have been driving the growth of the market. Hence, the market will continue to see further affirmative growth as companies keep a focus on innovation and sustainability.

Recent trends in consumer preferences in North America are leaning more toward sustainable and ethically sourced seafood. Consumers are increasing the demand for certifications about sustainability. Health conscious consumers are also demanding fish products especially like salmon and sardines that are rich sources of omega-3 fatty acids. However they indicate more demand for value-added or convenience products such as ready-to-eat foods. Government Regulatory Policies The regulatory government policies are vital to form the shape of the consumer market for seafood in North America.

In the United States, the management of marine resources is carried out by NOAA, which must adhere to guiding policies, such as the Magnuson-Stevens Fishery Conservation and Management Act, which governs how to conserve sustainable fishery resources. Despite the criticisms, the Department of Fisheries and Oceans has been working on several fronts toward reaching the goals set by policies such as the Fisheries Act and the Oceans Act toward sustainable fishery activity and conservancy.

Market Drivers

• Rising Health Awareness and Dietary Shifts: The growing awareness of the health benefits associated with seafood consumption is a significant driver in the North American seafood market. Consumers are increasingly incorporating seafood into their diets due to its high protein content, omega-3 fatty acids, and essential nutrients, which are believed to reduce the risk of chronic diseases. This trend is further fueled by the rising popularity of pescatarian and flexitarian diets. Additionally, government and health organizations are promoting seafood as a healthier alternative to red meat, driving demand across the region. The increasing availability of sustainably sourced and certified seafood products also aligns with consumer preferences for healthier and environmentally friendly food options.

Market Trends

• Overfishing and Sustainability Concerns Overfishing and sustainability issues are major challenges in the North American seafood market. The depletion of fish stocks due to overfishing has led to stricter regulations and limitations on catch quotas, impacting the supply chain. This has also resulted in higher prices for certain seafood products, making them less accessible to consumers. Moreover, the need to ensure sustainability has placed pressure on the industry to adopt more responsible fishing practices and to invest in aquaculture. While these measures are necessary to protect marine ecosystems, they also increase operational costs and create challenges for small and medium-sized enterprises in the seafood sector.

Market Challenges

• Expansion of Aquaculture: Aquaculture, or fish farming, is rapidly expanding in North America as a response to the challenges of overfishing and the need for a stable seafood supply. The growth of aquaculture is driven by technological advancements and increasing investments in sustainable farming practices. Companies are focusing on developing innovative aquaculture systems that minimize environmental impact and improve efficiency. This trend is also supported by government policies and incentives aimed at promoting sustainable seafood production. As a result, aquaculture is becoming a key contributor to the seafood market, helping to meet the growing demand for seafood while addressing sustainability concerns.

Processed seafood accounts for a major share in the North American seafood market primarily due to consumer preferences in products that are convenient and value-added.

The increased pace of life of the North American consumer has led to demand for convenient and easy-to-cook seafood products that can be consumed without any further ado. The processed seafood sector consists of such varied products as frozen dinners, canned seafood, smoked fish, seafood salads, and breaded/battered items. Convenience to prepare and cook is the greatest attraction of such products, thereby being more appealing to those who are under severe time constraints and to families. Most of these are in the form of packaged pre-portioned or pre-seasoned insuring both a consistent and an attractive flavor appeal.

In addition to this, there has been quality, safety, and increased shelf life because of processing technologies and innovations in packaging processes of seafood products. Among freezing methods include freeze-drying, vacuuming, and modified atmosphere packaging that ensures freshness and nutrients within the seafood, thus guaranteeing a buyer of that quality. Such innovations have also led to completely new seafood products being developed with the primary aim of making sure all types of taste palates and dietary requirements are matched. Another major driver for the processed seafood market is the rising health consciousness among the North American consumers.

Seafood has already built a health-related reputation on its own since it is rich in numerous proteins, omega-3 fatty acids, vitamins, and minerals. Processed seafood products, therefore, highlight the nutritional values associated with them, thus appealing to the consumer segment that is conscious of health and wants an easy way to incorporate seafood in their diet.

Strong retail and foodservice sectors in North America have equally been a source of growth for the processed seafoods market. The accessibility of several types of processed seafood products is enhanced through supermarket distribution, convenience stores, and e-retailers. The processed seafoods are hence used within the foodservice channel and its related outlets, like restaurants and cafes.

Fish is leading the North American seafood market mainly due to the health benefits and increased fast consumer demand for protein-rich diets.

The North American seafood market has suddenly reached a high intake of fish, which has been influenced by the rising awareness of its nutritional benefits and the culture of healthy eating that is becoming common among consumers. Fish is among the highest-value sources of protein, omega-3 fatty acids, and other important vitamins necessary for good health. Most of the consumers are moving away from red meat and poultry to fish as a much healthier alternative with the increasing awareness in health. This is further being compounded by an increase in diets like pescetarianism, which calls for the inclusion of seafood in one's diet while excluding other meat types.

Fish contributed to approximately 57% of the total seafood consumed in North America in 2021, thus commanding a larger share in the market. Per capita fish consumption has gone up over the years, which reflects a change in consumer behavior toward better sources of protein. This had been further driven more at a faster rate in the recent times by the outbreak of COVID-19, as most people aimed to build up their health and immunity through better diet intake. Additionally, the easy purchase of fish, fresh or frozen, directly from supermarkets and through online platforms has added to the popularity. This has been further enhanced by various regulations that the U.S.

government has put in place to ensure that sustainable methods of fishing are employed in order to sustain fish populations and sustain existing supplies to consumers. Regulation, coupled with new innovations in fishing and aquaculture technologies, has optimized fish production while ensuring its sustainability. In addition, there has been expansion in the seafood industry in regard to food service, particularly in restaurants, where there is a developing trend to include fish in their menu due to health-conscious consumers who maximize on the healthy benefits derived from fish consumption.

Frozen seafood is ruling the North America Sea Food Market due to its convenience, affordability, and the fact that it can be availed throughout the year.

The huge popularity in North America could be attributed to the different advantages of frozen seafood that have made this food item a mainstay in most American and Canadian households. Foremost among them is convenience. These products are easily stored and transported to make them available at most consumers' local supermarkets, conveniently stored in their freezers for later use. In fact, it was this convenience factor that really did drive demand, especially within households that are too busy and where meal planning and preparation time is scarce. Not only that, but frozen seafood is generally more affordable compared to fresh seafood, thus also appealing to budget-conscious consumers.

Moreover, the success of frozen seafood is also based on its feature of being available all the time. In contrast to fresh seafood, much of it seasonal and availability-based, frozen seafood is harvested in almost every part of the globe and can be delivered to consumers throughout the year. This gave consumers access to their favorite seafood products like salmon, shrimp, and tilapia any time of the year and from any geographic region in the country. Improvements in freezing technology have also ensured that the quality of frozen seafood products is assured. Most of the products are flash-frozen at the peak of their freshness to keep them flavor-fresh and lock in their texture.

This has dispelled another misconception that frozen seafood is inferior in quality as compared to fresh seafood. Thus, demand for frozen seafood products has been driven across North America. This growth in the frozen seafood market is also stravitated by changing consumer preferences, where most consumers move towards seeking healthier and more sustainable food options. The frozen seafood products, lower in mercury and higher in omega-3 fatty acids as compared to fresh seafood products, benefited from this trend and have become staple products in most health-conscious households.

The United States is leading the North American seafood market primarily due to its vast coastline, advanced fishing and aquaculture industries, and high consumer demand.

The leadership position is the result of a complex interplay of geographical, economic, and cultural factors. The United States boasts over 95,000 miles of coastline, providing access to diverse marine ecosystems in the Atlantic, Pacific, and Arctic oceans, as well as the Gulf of Mexico. This extensive coastal access allows for a wide variety of wild-caught seafood, ranging from Alaska pollock and salmon in the north to shrimp and tuna in the south. Additionally, the U.S. has developed a robust aquaculture industry, particularly strong in regions like the Gulf Coast and the Pacific Northwest, which supplements the wild-catch supply.

The country's advanced technology and infrastructure in fishing, processing, and distribution further cement its position. American consumers have a growing appetite for seafood, driven by health consciousness and culinary trends, which sustains a large domestic market. The U.S. also benefits from strong regulatory frameworks that promote sustainable fishing practices and food safety, enhancing the reputation of its seafood products both domestically and internationally. Furthermore, the country's economic power and trade relationships facilitate significant seafood imports, allowing it to meet demand beyond its domestic production capabilities.

Considered in this report

• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report

• Seafood market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Source

• Farm Raised
• Wild Caught

By Form

• Processed
• Fresh

By Type

• Fish
• Crustaceans
• Molluscs
• Others (sea cucumbers, sea urchins,)

By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Store
• Others (wholesale markets, direct sales from fishermen)

By Category

• Frozen Seafood
• Salted Seafood
• Dried Seafood
• Smoked Seafood
• Others (canned or pickled seafood)

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases.

After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Seafood industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.


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