Retail sales in the United States seafood market and fish industry is suggested to have reached a value $13.3 billion in 2008, and hit $14.7 billion by the end of 2012. It is forecast that by 2017 the industry will be worth around $17.1 billion, growing at a CAGR of 3.1% between 2012 and 2017.
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 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.
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