From Seafoodsource on February 2nd, the latest data from the Global Seafood Market Conference held by the National Fisheries Research Institute on February 1 show that the sales of fresh, frozen and shelf-stable seafood in the United States retailers in 2020 all set a record Record.
According to data from IRI Worldwide, a professional analysis company, frozen seafood sales jumped 35%to 7 billion U.S. dollars (5.8 billion euros), and fresh seafood sales increased 24.5%to 6.7 billion U.S. dollars (5.6 billion euros). Storable seafood sales increased by 20.3%to 2.9 billion U.S. dollars (2.4 billion euros).
The substantial increase in online grocery sales has also benefited. In 2020, seafood sales have tripled to 1.1 billion US dollars (915.1 million euros).
In the frozen category, raw shrimp sales jumped 48%to US$2 billion (1.7 billion euros), and cooked shrimp sales jumped 25%to US$1.8 billion (1.5 billion euros).
The sales of fresh seafood of random weights sold at the seafood counter also increased dramatically. Fresh fin fish sales increased by 22%, shellfish increased by 24.6%, and other seafood increased by 18%. Sales of fresh fixed-weight seafood increased by 28%to US$871 million (724.5 million euros).
The top 10 best-selling fresh seafood are:salmon, crab, shrimp, lobster, catfish, tilapia, cod, scallop, tuna and trout. Crab’s sales rose in the top five in this category, followed by lobster, sea bream, crab/seafood fish cakes and halibut.
Analytics said that the sales growth of fresh crabs reached 62%in 2020, which is”unheard of”. Salmon remains the main product of the fresh seafood sector. In 2020, fresh salmon sales increased by 19%to US$2.2 billion (1.8 billion euros).
Tuna is the most significant sales in the shelf-stable category, with sales increasing by nearly 19%to 2.1 billion US dollars (1.7 billion euros). Sales of durable salmon products also jumped 30.3%to US$286 million (277.9 million euros), and clam sales jumped 27%to US$62 million (51.6 million euros).
Analysis company also pointed out some problems that need to be urged to solve the seafood industry.
Analysis of data shows that the household penetration rate of storage-resistant seafood is about 70%, and the average buyer’s purchase fee is nearly 33.00 US dollars (27.45 euros). The younger generation is the largest consumer group, but the data shows a lack of attractiveness to young consumers.
Frozen seafood is mainly for families with an annual income of more than US$100,000 (83,200 euros), and it is still necessary to encourage low-income families to buy it.
Now the seafood industry has attracted so many new consumers, but how to engage consumers and encourage them to buy more seafood is very important.
IRI Senior Vice President Chris DuBois said that growth in all seafood categories in 2021 will continue. However, as the COVID-19 vaccination rate rises and more and more Americans feel comfortable traveling and dining out, sales of frozen seafood may decline, and finding ways to retain these buyers will be a big deal.
IRI also predicts that by June, overall consumer product (CPG) sales will drop 2.3%from 2020. However, e-commerce sales may continue to expand in the future, and online seafood sales will grow by double digits in 2021.
With such significant growth in such a short period of time, DuBois questioned whether retailers and food suppliers can keep up with this trend. DuBois said it is important to stay ahead of economic trends. The pace of overall business is accelerating, and seafood companies need to plan for short- and long-term scenarios, including if the government’s stimulus funds are reduced or exhausted later in 2021.