The fish and seafood industry is at an odd crossroads. Dollar sales are up, yet unit sales and volume sales are down. Consumers look to fish and seafood as a healthier source of protein than meat and poultry yet they worry more about spoilage and contamination of fish than they do of meat. In addition, marketers and retailers remain wary of aquaculture products even as they are urged by government and non-governmental agencies and marketers, retailers and foodservice operators to be concerned about the sustainability of major fish and seafood species.
Despite all the contradictions, Packaged Facts estimates that total retail sales of fish and seafood products were over $14.7 billion in 2012, up from $13.3 billion in 2008. The growth in dollar sales was offset by declines in both unit sales and volume sales in most retail fish and seafood categories with the exceptions of the frozen fish/seafood segment (which includes both prepared and non-prepared fish and seafood products) and frozen raw shrimp.
The recessionary economy experienced in the 2008 to 2012 period takes the blame for the unit and volume sales slowdown. Consumer use of private label alternatives to branded fish and seafood products took a giant leap forward between 2008 and 2012, going from less than four percent to over 30 percent in the four-year period as shoppers watched their budgets.
Going forward, the pace and robustness of the recovery will determine how overall sales improve for fish and seafood and which of the various categories will enjoy the most growth. Packaged Facts projects that the retail market for fish and seafood will grow to $17.1 billion by 2017 with the overall CAGR for the retail fish and seafood market is projected to be about 3.1 percent through the period.
Scope and Methodology
"Fish and Seafood Trends in the U.S." covers the market for fish and seafood products sold through all types of retail outlets, including supermarkets, discount stores and supercenters, warehouse clubs, and mass merchandisers, as well as convenience stores, drugstores, health and natural food stores, dollar stores, farms and farmers markets. The markets for fresh, refrigerated, frozen, and shelf-stable fish and seafood, in both processed and unprocessed forms are covered, as well as their usage in the foodservice industry.
Market estimates within this report were based on both public and syndicated data sources. Packaged Facts has analyzed available sales and trend data, together with information pertaining to those products that move through unmonitored outlets, to estimate the total meat and poultry market size.
(seafood.vasep.com.vn) According to a report by the General Statistics Office, the estimated pangasius output for January 2025 reached 102.5 thousand tons, representing a 6.0% increase compared to the corresponding period of the preceding year. This surge is attributed to the rise in pangasius material prices within the Mekong Delta, which has incentivized aquaculture farmers to expand their stocking activities. Concurrently, this price increase has facilitated processing enterprises to intensify procurement efforts to meet export demands during the early part of the year.
(seafood.vasep.com.vn) Between 2015 and 2024, Vietnamese pangasius exporting enterprises have undergone notable transformations in rankings and experienced fluctuations in developmental strategies, competitive intensity, and business efficacy. This dynamic is clearly illustrated through shifts in export turnover and the proportional contribution to the national pangasius export volume among the Top 5 enterprises.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
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