Market Overview
Based on the report “Seafood in the U.S. Retail” by MSD Animal Health.
The U.S. seafood retail market had a mixed performance in 2024, influenced by inflation, shifting consumer spending habits, and changing retail dynamics. While inflation has moderated, consumer confidence remains low, leading to price-sensitive shopping behaviors. However, 2025 is expected to see mild growth in the first two quarters, especially in the fresh and frozen seafood segments.
Key trends shaping the seafood market include:
- Consumers prioritizing affordability, boosting sales in shelf-stable seafood while fresh and frozen categories saw some declines.
- Health and sustainability as purchasing drivers, making salmon, shrimp, and cod top performers.
- Retail channel shifts toward discount grocers and club stores, as consumers seek better value.
Key Seafood Trends & Consumer Behavior
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Pricing & Inflation Impact
- Unlike other proteins, seafood prices declined by 0.7% to 3.9%, making it more competitive.
- However, the average unit price remains high at $9.57, which could limit consumer spending.
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Performance by Category
- Shelf-stable seafood (canned tuna, salmon, sardines) grew by +1.9% in dollars and +3.4% in volume.
- Frozen seafood sales declined by 2.6%, while fresh finfish grew by 2.3% in Q4. Shellfish saw a 6.6% decline.
- Sushi sales increased by 5.1%, indicating strong demand for premium and convenient seafood options.
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Consumer Buying Behavior
- Households that stopped buying seafood in the past three years need to be re-engaged.
- Deli-prepared seafood and meal solutions are emerging as strong alternatives to restaurant dining.
- Consumers are increasingly shopping at discount grocery and club stores.
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Opportunities for Growth in 2025
- The home-centric trend continues, driving demand for convenient, ready-to-eat seafood.
- Sustainability and health consciousness will support growth in salmon, shrimp, and cod sales.
- Businesses focusing on affordability, convenience, health benefits, and sustainability will thrive.
Strategic Takeaways for Seafood Businesses
- Optimize pricing and promotions to attract budget-conscious consumers while maintaining premium positioning.
- Expand distribution into value-driven channels, such as discount grocery, club stores, and e-commerce.
- Develop easy-to-prepare seafood offerings to align with the demand for convenience.
- Leverage health and sustainability claims to differentiate products and appeal to eco-conscious buyers
Full report available via MSD Animal Health: Watch here
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