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U.S. Seafood Product Market. Analysis And Forecast to 2030
Report Update: Nov 1, 2024

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

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May 20, 2023

Seafood Product Import in United States Skyrocket 15% to $326M in March 2023

U.S. Seafood Product Imports

In March 2023, imports of seafood product into the United States expanded rapidly to 45K tons, increasing by 10% compared with the month before. Overall, imports, however, continue to indicate a slight downturn. The most prominent rate of growth was recorded in October 2022 when imports increased by 12% m-o-m.

In value terms, seafood product imports rose notably to $326M (IndexBox estimates) in March 2023. Over the period under review, imports, however, recorded a noticeable slump.

COUNTRYImport Value of Seafood Product in U.S. (million USD)
Mar 2022Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023
Thailand62.779.373.561.856.583.268.079.366.368.180.046.757.1
Indonesia84.583.970.367.052.751.149.953.337.738.753.434.847.4
Vietnam47.846.369.254.751.348.839.935.337.033.035.319.324.5
China33.630.837.532.330.431.228.927.435.328.128.924.218.6
Ecuador18.624.617.914.417.514.512.519.017.612.516.115.917.5
Japan33.720.524.618.914.813.715.38.815.624.019.813.016.3
Canada18.918.015.016.314.116.314.717.519.215.717.915.615.3
Mexico10.28.78.69.411.411.610.77.48.29.14.611.510.5
Morocco6.83.44.54.58.78.88.010.113.34.48.34.39.3
Chile9.29.510.115.511.314.912.214.19.514.312.47.89.3
India17.114.515.211.98.010.19.17.18.88.111.87.38.7
South Korea8.910.49.97.66.85.06.05.87.77.17.66.48.7
Philippines19.421.119.020.414.813.98.68.88.88.910.74.96.5
Others94.484.210196.279.784.868.096.695.880.685.772.376.0
Total466455477431378408352391381353393284326

Imports by Country

In March 2023, Thailand (11K tons) constituted the largest supplier of seafood product to the United States, with a 23% share of total imports. Moreover, seafood product imports from Thailand exceeded the figures recorded by the second-largest supplier, Vietnam (4.2K tons), twofold. The third position in this ranking was held by China (4K tons), with a 9% share.

From March 2022 to March 2023, the average monthly growth rate of volume from Thailand stood at -1.4%. The remaining supplying countries recorded the following average monthly rates of imports growth: Vietnam (-2.8% per month) and China (-3.3% per month).

In value terms, the largest seafood product suppliers to the United States were Thailand ($57M), Indonesia ($47M) and Vietnam ($24M), with a combined 40% share of total imports. These countries were followed by China, Ecuador, Japan, Canada, Mexico, Chile, Morocco, South Korea, India and the Philippines, which together accounted for a further 37%.

In terms of the main suppliers, Morocco, with a CAGR of +2.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In March 2023, the seafood product price stood at $7,232 per ton (CIF, US), increasing by 4% against the previous month. Over the period under review, the import price, however, continues to indicate a slight curtailment. Over the period under review, average import prices reached the peak figure at $8,237 per ton in March 2022; however, from April 2022 to March 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Japan ($14,528 per ton), while the price for China ($4,600 per ton) was amongst the lowest.

From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by Morocco (+2.4%), 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 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    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 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    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, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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