U.S. Seafood Industry Expected to Expand at a CAGR of 4.8% to Hit USD 41.7 Billion by 2032 | PMR Report

The U.S. seafood market has been an essential part of the nation's culinary landscape, contributing significantly to its economy. With increasing demand for seafood, the market is on a trajectory of steady growth, projected to rise from $30.1 billion in 2025 to $41.7 billion by 2032, marking a robust compound annual growth rate (CAGR) of 4.8%. This article delves into the U.S. seafood market's current dynamics, drivers, and challenges, while providing insights into the opportunities that lie ahead.

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Overview of the U.S. Seafood Market

The U.S. seafood market is witnessing strong growth, driven by the increased consumption of seafood, rising health consciousness, and a growing preference for protein-rich, low-fat diets. Fish, in particular, is projected to generate a significant share of the market, with 64.7% of the market share anticipated in 2025. Furthermore, the on-trade channel, including restaurants, seafood tapas bars, sushi spots, and poke joints, is expected to account for 57.3% of the market share in 2025. The U.S. heavily relies on international seafood imports, with around 70 to 85% of its seafood consumption sourced from outside the country. This reliance has fueled the development of advanced cold storage infrastructure and supply chains to maintain product quality and meet the high demand.

The Southeast U.S., in particular, is poised to hold a substantial share of the market, estimated at 23.6% in 2025. The region's proximity to the Gulf and Atlantic coasts provides easy access to a variety of seafood, such as shrimp, oysters, and crab. The rapid urbanization in this region has also driven the popularity of seafood consumption, particularly in coastal cities where access to fresh seafood is abundant.

Key Highlights from the U.S. Seafood Market Report

• The U.S. seafood market size is expected to grow from $30.1 billion in 2025 to $41.7 billion by 2032.
• Fish will contribute to 64.7% of the market share by 2025, driven by growing consumer preferences.
• The on-trade channel (restaurants, sushi bars) is projected to account for 57.3% of market share by 2025.
• The Southeast U.S. region is expected to capture 23.6% of the market share in 2025.
• Domestic seafood production in the U.S. was around 7.8 million tons in 2022, with a notable portion coming from aquaculture.
• The demand for low-fat, protein-rich seafood is driving consumer behavior toward choosing seafood over red meat.

Market Segmentation

Product Type

The U.S. seafood market can be divided into various product categories, with fish leading the way. Fish, including popular varieties like salmon, tuna, and cod, make up a large portion of the market. This category is benefiting from an increasing demand for healthier alternatives to red meat and a growing awareness of the health benefits of omega-3 fatty acids. Other important product types in the U.S. seafood market include crustaceans, mollusks, and processed seafood items. While crustaceans like shrimp and lobster are consistently in high demand, mollusks such as oysters and clams are becoming increasingly popular among U.S. consumers.

End-User Segment

The seafood market in the U.S. is segmented into various end-user categories, including households, restaurants, and foodservice industries. In particular, the restaurant and foodservice sector plays a significant role in the market's growth. With the increasing popularity of seafood tapas bars, sushi joints, and poke bowls, the demand for seafood at these establishments is expected to surge. On the other hand, the retail and household consumption segments are also crucial drivers, with more people turning to seafood as part of a balanced diet. As health-consciousness continues to rise, consumers are increasingly substituting seafood for traditional meats like beef and pork.

Regional Insights

Southeast U.S.

The Southeast U.S. stands out as a key region for the U.S. seafood market, primarily due to its proximity to the Gulf and Atlantic coasts. This geographical advantage ensures a steady supply of fresh seafood, including shrimp, oysters, and crab. The region's market share is expected to increase significantly in the coming years, making it a hub for the seafood industry. Additionally, the growing population in coastal urban areas has led to a rising demand for fresh, locally sourced seafood, driving market expansion in this region.

Pacific Coast

The Pacific Coast, particularly regions like California and Alaska, also plays a vital role in the U.S. seafood market. Known for its rich seafood resources, including salmon, halibut, and shellfish, this region remains a major supplier of high-quality seafood. The demand for sustainable and wild-caught seafood has made this region increasingly popular among consumers who prioritize environmental responsibility. Additionally, the expansion of seafood tourism, with experiences like whale watching and fishing trips, further boosts the market in these areas.

Market Drivers

One of the primary drivers of the U.S. seafood market is the growing consumer demand for protein-rich and low-fat diets. Seafood is often seen as a healthier alternative to red meat due to its lower fat content and high nutritional value, particularly with regards to omega-3 fatty acids. The trend toward sustainable and responsible consumption of food is also influencing the growth of the market. As consumers become more eco-conscious, the demand for sustainably sourced seafood has increased. Additionally, the rise of convenience and ready-to-eat seafood products is fueling growth in the retail sector.

Market Restraints

Despite its growth potential, the U.S. seafood market faces several challenges. One major restraint is the increasing pressure on domestic fisheries and aquaculture systems. Overfishing, environmental degradation, and climate change are significantly affecting fish stocks, leading to concerns over the long-term sustainability of the industry. Moreover, the high reliance on international imports introduces vulnerability to global supply chain disruptions, whether due to geopolitical issues or natural disasters. As a result, the industry must invest in sustainable practices and alternative sourcing to mitigate these risks.

Market Opportunities

The U.S. seafood market presents several opportunities for growth. One key opportunity is the expansion of inland aquaculture, particularly in the Midwest and Southeast. This shift would reduce the industry's dependence on coastal regions and provide a more stable supply of seafood. Furthermore, as consumer preferences lean towards healthier diets, there is significant potential in marketing seafood as a superfood, particularly among younger, health-conscious consumers. There is also growing interest in plant-based seafood alternatives, which presents an exciting avenue for innovation and product development.

Reasons to Buy the Report

✔ Comprehensive analysis of the U.S. seafood market size and forecast, 2025-2032.
✔ In-depth examination of market drivers, restraints, and growth opportunities.
✔ Detailed segmentation analysis based on product type and end-user categories.
✔ Insights into regional trends and their impact on market dynamics.
✔ Identification of leading market players and key competitive strategies.

Company Insights

Key players operating in the U.S. seafood market include:

• Bumble Bee Foods
• Thai Union Group
• Mowi ASA
• Stolt-Nielsen Limited
• Maruha Nichiro Corporation
• Seafood Business, Inc.

Recent Developments in the U.S. Seafood Market

1. Bumble Bee Foods has recently invested in expanding its sustainable seafood operations, focusing on environmentally friendly sourcing practices.

2. Thai Union Group has launched several new products in the plant-based seafood segment, catering to growing demand for alternative proteins.

This comprehensive guide to the U.S. seafood market outlines its current landscape, future growth potential, and strategic opportunities for both consumers and businesses in the sector. With detailed insights into market drivers, challenges, and regional trends, this report serves as a vital resource for anyone looking to understand the U.S. seafood market's evolution and its role in the global seafood industry.

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