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U.S. Seafood Product Market. Analysis And Forecast to 2030
Report Update: Feb 1, 2025

U.S. Seafood Product Market. Analysis And Forecast to 2030

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Dec 5, 2024

U.S. Import of Seafood Product Slightly Declines to $4.2 Billion in 2023

U.S. Seafood Product Imports

In 2023, approx. 573K tons of seafood product were imported into the United States; falling by -12.6% on the previous year's figure. The total import volume increased at an average annual rate of +1.6% over the period from 2013 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2022 when imports increased by 14%. As a result, imports attained the peak of 656K tons, and then declined in the following year.

In value terms, seafood product imports fell sharply to $4.2B (IndexBox estimates) in 2023. In general, total imports indicated a notable expansion from 2013 to 2023: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 19% against the previous year. Imports peaked at $4.9B in 2022, and then fell significantly in the following year.U.S. Seafood Product Imports By Country (Million USD)

COUNTRYImport Value of Seafood Product in U.S. (million USD)
20132014201520162017201820192020202120222023
Thailand675613517476553625699833650811705
Indonesia319390395375475542551505686738574
Vietnam191229253249270281368310374563406
China588596577542615735383283377398300
Japan59.761.563.977.4117111123102185248209
Canada151145135138159161148162187201204
Ecuador126126123110130156154132133191167
Philippines181210177144172183174136213185132
Others7517527597359031,0561,1191,2091,3981,6091,497
Total3,0423,1213,0012,8463,3953,8503,7213,6734,2034,9444,194

Imports by Country

In 2023, Thailand (136K tons) constituted the largest supplier of seafood product to the United States, with a 24% share of total imports. Moreover, seafood product imports from Thailand exceeded the figures recorded by the second-largest supplier, China (64K tons), twofold. Vietnam (59K tons) ranked third in terms of total imports with a 10% share.

From 2013 to 2023, the average annual rate of growth in terms of volume from Thailand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.0% per year) and Vietnam (+6.8% per year).

In value terms, Thailand ($705M), Indonesia ($574M) and Vietnam ($406M) were the largest seafood product suppliers to the United States, together accounting for 40% of total imports. China, Japan, Canada, Ecuador and the Philippines lagged somewhat behind, together comprising a further 24%.

Japan, with a CAGR of +13.3%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the seafood product price amounted to $7,316 per ton (CIF, US), reducing by -3% against the previous year. Over the period from 2013 to 2023, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 18% against the previous year. Over the period under review, average import prices hit record highs at $7,541 per ton in 2022, and then dropped slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($13,264 per ton), while the price for China ($4,698 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Japan (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the seafood product market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • NAICS 311710 - Seafood product preparation and packaging

Companies mentioned:

  • Trident Seafoods Corporation
  • Gorton's Inc.
  • Bee Bumble Foods
  • Icicle Seafoods
  • Tampa Maid Foods
  • Blount Fine Foods
  • Omega Protein Corporation
  • Peter Pan Seafoods
  • Orca Bay Seafoods
  • Tampa Bay Fisheries
  • Sea Watch International
  • Trans-Ocean Products
  • Consolidated Catfish Companies
  • High Liner Foods (usa)
  • The Harris Soup Company
  • Kanaway Seafoods
  • Fisherman's Pride Processors
  • Copper River Seafoods
  • State Fish Co.
  • America's Catch
  • North Coast Sea-Foods
  • Heartland Catfish Company
  • North Pacific Seafoods
  • Ocean Beauty Seafoods
  • California Shellfish Company
  • Thai Union International

Country coverage:

  • United States

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the U.S.
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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