Surf and turf: Seafood prices and per capita seafood consumption are both expected to increase
Seafood Preparation in the US
The Seafood Preparation industry has navigated unsteady economic conditions, growing despite volatility. The industry benefits from long-term trends favoring seafood, as consumers gradually shift toward eating more seafood, considered a healthier protein alternative than red meat and most poultry. This change has coincided with greater consumer purchasing power, as growing disposable income has made it easier for consumers to afford higher-end seafood, despite regulatory changes that have raised prices, like laws outlawing the importation of seafood products harvested using exploited workers. Likewise, the industry has navigated an environment where import penetration from Asia has continued to rise, undercutting the position of domestic producers.
This industry is involved in canning, smoking, salting, drying, freezing and packing fish and shellfish. Industry operators also eviscerate fish (remove parts from fish), shuck shellfish (remove their shells) and process fish and shellfish fats and oils. This industry also includes floating factory ships, also known as fish processing vessels, that are engaged in shipboard seafood processing. The term seafood processing is used to describe these activities as a whole.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.