Seafood Product Market in the USA - Key Insights

IndexBox has just published a new report, the U.S. Seafood Product Market. Analysis And Forecast to 2025. Here is a summary of the report's key findings.

The revenue of the seafood product market in the U.S. amounted to $X in 2018, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +X% over the period from 2013 to 2018; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2015, when the market value increased by X% y-o-y. Over the period under review, the seafood product market attained its peak figure level in 2018, and is likely to see steady growth in the immediate term.

Seafood Product Production in the USA

In value terms, seafood product production stood at $X in 2018. The total output value increased at an average annual rate of +X% from 2013 to 2018; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2014, when it surged by X% year-to-year.

Seafood Product Exports

Exports from the USA

In 2018, seafood product exports from the U.S. stood at X tonnes, surging by X% against the previous year. In general, seafood product exports continue to indicate an abrupt contraction.

In value terms, seafood product exports amounted to $X (IndexBox estimates) in 2018.

Exports by Country

The UK (X tonnes), Australia (X tonnes) and the Netherlands (X tonnes) were the main destinations of seafood product exports from the U.S., together comprising X% of total exports. New Zealand, Japan and China lagged somewhat behind, together comprising a further X%.

From 2013 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by Japan (+X% per year), while the other leaders experienced a decline.

In value terms, the largest markets for seafood product exported from the U.S. were the UK ($X), Australia ($X) and the Netherlands ($X), with a combined X% share of total exports. Japan, New Zealand and China lagged somewhat behind, together comprising a further X%.

Export Prices by Country

In 2018, the average seafood product export price amounted to $X per kg, surging by X% against the previous year. Over the period from 2013 to 2018, it increased at an average annual rate of +X%.

Export prices varied noticeably by the country of origin; the country with the highest export price was Japan ($X per kg), while the average price for exports to China ($X per kg) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of export prices was recorded for supplies to New Zealand (+X% per year), while the export prices for the other major destinations experienced more modest paces of growth.

Seafood Product Imports

Imports into the USA

In 2018, approx. X tonnes of seafood product were imported into the U.S.; rising by X% against the previous year.

In value terms, seafood product imports stood at $X (IndexBox estimates) in 2018.

Imports by Country

In 2018, Thailand (X tonnes) constituted the largest seafood product supplier to the U.S., accounting for a X% share of total imports. Moreover, seafood product imports from Thailand exceeded the figures recorded by the second largest supplier, China (X tonnes), twofold. The third position in this ranking was occupied by Ecuador (X tonnes), with a X% share.

From 2013 to 2018, the average annual growth rate of volume from Thailand stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and Ecuador (+X% per year).

In value terms, Thailand ($X) constituted the largest supplier of seafood product to the U.S., comprising X% of total seafood product imports. The second position in the ranking was occupied by China ($X), with a X% share of total imports. It was followed by Ecuador, with a X% share.

Import Prices by Country

In 2018, the average seafood product import price amounted to $X per kg, rising by X% against the previous year. In general, the seafood product import price continues to indicate a relatively flat trend pattern.

Import prices varied noticeably by the country of origin; the country with the highest import price was Fiji ($X per kg), while the price for China ($X per kg) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of import prices was attained by Senegal (+X% per year), while the import prices for the other major suppliers experienced more modest paces of growth.

Companies Mentioned in the Report

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

Source: IndexBox Platform