The US canned fish and shellfish production has seen fluctuating patterns from 2013 to 2023, peaking at 625 million pounds in 2015 and dropping significantly to 402 million pounds by 2023. The average annual growth rate over the past 5 years was -2.1%, indicating a downward trend in production. Between 2022 and 2023, the production declined by 3.6%, reinforcing this downward trajectory.
Future trends point to a continued decline, with production forecasted to reach 322.9 million pounds by 2028, reflecting a 5-year CAGR of -3.41% and an overall drop of 15.94% from 2023 levels. This suggests ongoing challenges in the industry.
Future Trends to Watch For:
- Technological investments to improve efficiency.
- Environmental regulations impacting production volumes.
- Shifts in consumer preferences towards fresher or alternative seafood options.
