U.S. Seafood Product Market. Analysis And Forecast to 2030
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View PricingSeafood 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.
| COUNTRY | Import Value of Seafood Product in U.S. (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | |
| Thailand | 62.7 | 79.3 | 73.5 | 61.8 | 56.5 | 83.2 | 68.0 | 79.3 | 66.3 | 68.1 | 80.0 | 46.7 | 57.1 |
| Indonesia | 84.5 | 83.9 | 70.3 | 67.0 | 52.7 | 51.1 | 49.9 | 53.3 | 37.7 | 38.7 | 53.4 | 34.8 | 47.4 |
| Vietnam | 47.8 | 46.3 | 69.2 | 54.7 | 51.3 | 48.8 | 39.9 | 35.3 | 37.0 | 33.0 | 35.3 | 19.3 | 24.5 |
| China | 33.6 | 30.8 | 37.5 | 32.3 | 30.4 | 31.2 | 28.9 | 27.4 | 35.3 | 28.1 | 28.9 | 24.2 | 18.6 |
| Ecuador | 18.6 | 24.6 | 17.9 | 14.4 | 17.5 | 14.5 | 12.5 | 19.0 | 17.6 | 12.5 | 16.1 | 15.9 | 17.5 |
| Japan | 33.7 | 20.5 | 24.6 | 18.9 | 14.8 | 13.7 | 15.3 | 8.8 | 15.6 | 24.0 | 19.8 | 13.0 | 16.3 |
| Canada | 18.9 | 18.0 | 15.0 | 16.3 | 14.1 | 16.3 | 14.7 | 17.5 | 19.2 | 15.7 | 17.9 | 15.6 | 15.3 |
| Mexico | 10.2 | 8.7 | 8.6 | 9.4 | 11.4 | 11.6 | 10.7 | 7.4 | 8.2 | 9.1 | 4.6 | 11.5 | 10.5 |
| Morocco | 6.8 | 3.4 | 4.5 | 4.5 | 8.7 | 8.8 | 8.0 | 10.1 | 13.3 | 4.4 | 8.3 | 4.3 | 9.3 |
| Chile | 9.2 | 9.5 | 10.1 | 15.5 | 11.3 | 14.9 | 12.2 | 14.1 | 9.5 | 14.3 | 12.4 | 7.8 | 9.3 |
| India | 17.1 | 14.5 | 15.2 | 11.9 | 8.0 | 10.1 | 9.1 | 7.1 | 8.8 | 8.1 | 11.8 | 7.3 | 8.7 |
| South Korea | 8.9 | 10.4 | 9.9 | 7.6 | 6.8 | 5.0 | 6.0 | 5.8 | 7.7 | 7.1 | 7.6 | 6.4 | 8.7 |
| Philippines | 19.4 | 21.1 | 19.0 | 20.4 | 14.8 | 13.9 | 8.6 | 8.8 | 8.8 | 8.9 | 10.7 | 4.9 | 6.5 |
| Others | 94.4 | 84.2 | 101 | 96.2 | 79.7 | 84.8 | 68.0 | 96.6 | 95.8 | 80.6 | 85.7 | 72.3 | 76.0 |
| Total | 466 | 455 | 477 | 431 | 378 | 408 | 352 | 391 | 381 | 353 | 393 | 284 | 326 |
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.
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
