United States Seafood Market Size

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

Understand The Key Trends Shaping This Market

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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.

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