Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in the United States has been experiencing slow growth due to factors such as declining consumer health awareness and limited adoption of digital technologies in the sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood. The negligible growth rate is impacted by the lack of convenience offered by online services and the preference for traditional purchasing methods in this market.
Customer preferences: Consumers in the United States are becoming more health-conscious, leading to a growing demand for sustainable and ethically-sourced fish and seafood products. With the rise of environmental concerns and the popularity of plant-based diets, consumers are also seeking more options for meat-free alternatives in the fish and seafood market. Additionally, the growing trend of home-cooked meals and meal kit deliveries has fueled the demand for convenient and easy-to-prepare fish and seafood options. These shifts in consumer preferences are also reflected in the increasing popularity of online seafood retailers and delivery services.
Trends in the market: In the United States, the Fish & Seafood Market is experiencing a surge in demand for sustainably sourced products, driven by consumer awareness and environmental concerns. This trend is expected to continue, with more consumers seeking out certified sustainable seafood options. Additionally, there is a growing emphasis on traceability and transparency in the seafood industry, as consumers want to know the origin and journey of their seafood. This trend is significant for industry stakeholders as it presents opportunities for differentiation and market growth, but also poses challenges in terms of supply chain management and compliance with sustainability standards. Overall, the trajectory of these trends points towards a more environmentally conscious and informed seafood market in the United States, with potential implications for improved sustainability practices and consumer trust in the industry.
Local special circumstances: In the United States, the Fish & Seafood market is heavily influenced by the country's vast coastline and diverse fishing industry. With a strong demand for fresh and sustainably sourced seafood, regulations and guidelines have been put in place to ensure the quality and safety of products. Additionally, the cultural significance of seafood in coastal areas has led to a unique market for specialty items, such as oysters and crabs. Furthermore, the rising popularity of plant-based diets and concerns over environmental impacts have also influenced the market, leading to an increase in alternative seafood options and sustainable fishing practices.
Underlying macroeconomic factors: The Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. As the world's largest consumer of fish and seafood, the United States has a significant impact on market performance. The country's stable economic growth and strong consumer purchasing power make it an attractive market for seafood companies. However, trade policies and regulations, both domestically and internationally, can also greatly impact the market. In recent years, the increasing demand for sustainable and environmentally friendly seafood has also influenced market growth. Additionally, the growing health consciousness among consumers has led to a rise in demand for healthy and nutritious seafood options, driving market growth in the United States.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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