United States Fish and Shellfish Market Report and Forecast 2024-2032

United States Fish and Shellfish Market Size

The United States fish and shellfish market is estimated to grow at a CAGR of 1.4% during the forecast period of 2024-2032. The growing awareness regarding the health benefits of seafood is aiding the market.

United States Fish and Shellfish Market

The United States fish and shellfish market is an important element of the nation’s food industry. This market has been significantly propelled by the escalating consumer awareness about the health benefits that come with seafood consumption. According to reports by the American Heart Association (AHA), as of January 2023, 48.6% of people in the United States had cardiovascular disease. Fish and shellfish are rich in omega-3 fatty acids that help prevent cardiovascular diseases and keep weight in check, which has resulted in a surge in their demand.

The increasing disposable incomes of consumers have enabled them to explore a wider variety of seafood options and the exploration of exotic species, contributing to the market expansion. Moreover, there is a general growing preference for protein-rich diets, particularly among health-conscious consumers and fitness enthusiasts, which has fuelled the United States fish and shellfish market growth.

The Rising Demand for Premium Seafood Options is One of the Crucial United States Fish and Shellfish Market Trends

• Shellfish is expected to experience the highest growth, with a CAGR of 1.6%. The United States fish and shellfish market value is surging amid increasing consumer interest in premium seafood options and the health benefits associated with shellfish.

• Fish, growing at a CAGR of 1.3%, remains a staple in the American diet, with steady demand supported by its versatility and nutritional benefits.

The Growing Demand for Frozen Seafood is Driving the United States Fish and Shellfish Market Growth

• Frozen products are expected to account for a significant portion of the United States fish and shellfish market share and lead with the highest CAGR of 1.7%. This growth is driven by the convenience and extended shelf life offered by frozen seafood, making it a popular choice among consumers.

• Fresh seafood, with a CAGR of 1.6%, continues to be highly sought after for its quality and flavour, appealing to consumers who prioritise fresh ingredients. 

• Canned seafood, growing at a CAGR of 1.5%, remains an important segment due to its affordability and long shelf life, providing a convenient option for consumers.

• As per the United States fish and shellfish market analysis, the 'Others' category, with a CAGR of 1.4%, includes various seafood products and contributes to overall market growth at a slower pace.

United States Fish and Shellfish Market Regional Analysis

• The Far West region is expected to lead with the highest CAGR of 1.7%. The strong consumer demand for seafood, supported by the region's extensive coastline and established seafood industry, is creating lucrative United States fish and shellfish market opportunities.

• The Rocky Mountain region follows with a CAGR of 1.6%, supported by a growing population and increasing interest in healthy dietary choices, including fish and shellfish. 

• The Southwest is projected to grow at a CAGR of 1.5% during the forecast period of 2024-2032. A diverse culinary culture and the expanding availability of seafood in local markets in the region are boosting the United States fish and shellfish market revenue. 

• The Southeast, growing at a CAGR of 1.4%, shows significant growth due to the region's rich culinary traditions that prominently feature seafood. 

• New England, with a CAGR of 1.3%, and the Plains and Mideast regions, both with CAGRs of 1.2%, exhibit moderate growth reflecting their stable demand for fish and shellfish. 

• As per the United States fish and shellfish industry statistics, the Great Lakes region, with a CAGR of 1.1%, experiences slower growth due to a smaller market size and limited local seafood supply.

Key Questions Answered in This Report:

• How has the United States fish and shellfish market performed historically, and what are the growth expectations for the future?

• What are the primary factors influencing demand and growth in the United States fish and shellfish market?

• What are the key segments within the United States fish and shellfish market, and how are they expected to evolve over the forecast period?

• What are the major challenges and opportunities facing stakeholders in the United States fish and shellfish market?

• Who are the key players in the United States fish and shellfish market, and what strategies are they employing to maintain a competitive edge?

• What are the regulatory and policy factors influencing the United States fish and shellfish market globally or regionally?

• How competitive is the United States fish and shellfish market according to Porter's five forces analysis, including factors like the bargaining power of buyers and suppliers?

• What are the current trends shaping the United States fish and shellfish market landscape, and how are they expected to evolve in the future?

• How are technological advancements impacting the United States fish and shellfish market, and what role do innovation and R&D play in driving growth?

• What are the consumer preferences and buying behaviour trends influencing the United States fish and shellfish market?

• How sustainable are current growth rates in the United States fish and shellfish market, and what factors could potentially disrupt these trends?

• What are the regional dynamics within the United States fish and shellfish market, and how do they contribute to overall market growth?

• What are the economic factors influencing the United States fish and shellfish market, such as GDP growth, inflation rates, and currency fluctuations?

• How are demographic shifts, such as ageing populations or urbanization trends, affecting demand in the United States fish and shellfish market?

• What are the key strategic partnerships, mergers, and acquisitions shaping the competitive landscape of the United States fish and shellfish market?

• What are the regulatory and legal frameworks impacting the United States fish and shellfish market globally or in key regions?

• How are changing consumer lifestyles and preferences influencing product or service demand within the United States fish and shellfish market?

• What are the emerging market trends and niche opportunities within the United States fish and shellfish market that stakeholders should be aware of?

• How resilient is the United States fish and shellfish market to external shocks or disruptions, such as geopolitical tensions or natural disasters?

• What are the potential barriers to market entry and growth for new players in the United States fish and shellfish market?

Key Benefits for Stakeholders:

Expert Market Research's industry report provides a comprehensive quantitative analysis of various market segments, and historical and current market trends, and forecasts the dynamics of the United States fish and shellfish market spanning from 2018 to 2032. 

The research report delivers up-to-date insights into the market drivers, challenges, and opportunities shaping the United States fish and shellfish market.

Stakeholders can leverage Porter's five forces analysis to assess the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. This analysis aids in evaluating the competitiveness and attractiveness of the United States fish and shellfish market.

The competitive landscape section enables stakeholders to gain a deep understanding of their competitive environment. It offers insights into the current market positions of key players, their strategies, and their market shares.

Additionally, the report highlights emerging trends, regulatory influences, and technological advancements that are pivotal for stakeholders navigating the United States fish and shellfish market landscape.

Key Highlights of the Report