Consumers want healthier proteins and opt for salmon/seafood.
By Amanda Buckle
SeafoodNews.com/January 24, 2024
At the National Fisheries Institute’s Global Seafood Market Conference in Orlando this week, market experts gave an assessment of sales over the past year and looking ahead.
It was a tough year for everyone, said Anne-Marie Roerink with 210 Analytics and Chris DuBois of Circana, adding that prices were up 30-35% versus pre-pandemic.
Seafood took a big hit due to its premium positioning, Buckle wrote. According to Roerink, even value-added had a rough year – but, of course, is still important due to the convenience factor.
Refrigerated seafood took a hit with sales from Gen X and older milleniallls falling. However, salmon held that number one spot with $2.7 billion in sales, followed by crab at $1 billion, shrimp at $703 million and lobster at $309 million.
On the frozen side, shrimp did rise up to take the number one spot with $3.5 billion in sales, followed by salmon at the number two spot with $673 million.
Even shelf stable saw growth for salmon. According to DuBois, “salmon household penetration has grown faster than any other center of the plate proteins over the last four years,” with penetration from 2019 to 2023 up 2.3 pts.
There is a silver lining for those not in the salmon space.
Consumers maintain that they want to eat healthier. And they view seafood as that healthy protein. Growth can be found in club stores, with more shoppers buying their seafood there than at their local grocery store. Even online retailers are seeing an uptick in seafood sales. SeafoodNews said that grocery stores can still be a space for seafood growth though, but in more unique areas – like the deli counter (think seafood salads) and sushi.