North America Seafood Market Value - By Type (Shrimp, Tuna, Salmon, Tilapia, Pangasius, Catfish), By Form (Fresh / Chilled, Frozen / Canned, Processed), By Distribution Channel (On-Trade, Off-Trade), By Country (Canada, Mexico, United States), By Industry Analysis, Size, Share & Forecast, 2023 – 2032

MVI Statistics and Viewpoints:

• North America Seafood Market size surpassed USD 107.7 Billion in 2022. 
• The market is expected to poised at a CAGR of over 6.6% from 2023 to 2032. 
• By the end of the forecast period, the market is expected to reach nearly USD 201.1 Billion.

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Companies that specialize in the sourcing, processing, and marketing of a wide range of seafood products. They specialize in frozen seafood, such as fillets of fish, prawns and crab. Companies and manufacturers have demonstrated a strong commitment to the North American market, supplying a diverse range of seafood products to meet the needs of consumers, retailers, and foodservice providers.

Market Overview:

The market in North America is a thriving and diverse industry that includes the production, processing, and distribution of various seafood products throughout the region. The market, which includes the United States, Canada, and Mexico, is influenced by a number of factors, including consumer preferences, regulatory frameworks, and sustainability concerns. Fish (such as salmon, tuna, and cod), shellfish (such as prawns, crab, and lobster), and mollusks (such as oysters and mussels) are among the products available on the market. These products come from both wild-caught and aquaculture operations, and there is a growing emphasis on sustainable and responsible fishing practices. The market in North America is supported by a strong supply chain infrastructure that includes fishing vessels, seafood processors, distributors, and retailers. Seafood companies, fisheries, and aquaculture producers are among the market's major players. To ensure product safety and traceability, these organizations frequently adhere to stringent quality standards and certifications.

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Drivers:

• Consumer Demand is growing: Rising consumer demand for seafood products is one of the primary drivers. Seafood is regarded as a high-quality protein source that is high in essential nutrients and omega-3 fatty acids. Demand for seafood is increasing as consumers become more health-conscious and seek nutritious food options.
   
• Growth of Aquaculture: Aquaculture, or fish farming, has grown rapidly in North America. It has aided in meeting rising seafood demand while relieving pressure on wild fish stocks. The expansion of aquaculture has increased the availability of farmed seafood products such as fish, shellfish, and other aquatic species. The expansion of aquaculture contributes to market diversification and the availability of a broader range of seafood options.

Restraints:

• Food Safety Concerns: Food safety is a major concern in the seafood industry. Contamination of seafood products, such as pathogens, toxins, and heavy metals, can pose health risks to consumers. Maintaining consumer trust and preventing foodborne illnesses requires strict adherence to food safety regulations, quality control measures, and proper handling and storage practices.

By Type Synopsys:                      

The North America market is classified by type into shrimp, tuna, salmon, tilapia, pangasius, catfish, and others. Among these segments, the fish segment accounted for the largest share of the North America market in 2022. This is primarily due to the abundance of available fish species, the well-established fishing infrastructure, and the long-standing tradition of fish consumption in coastal communities. Popular fish species such as salmon and tuna have high market demand due to their nutritional value, flavor preferences, and cultural significance.

By Form Synopsys:    

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The North America Seafood Market is classified form into fresh / chilled, frozen / canned, processed. Among these segments, the frozen / canned segment is expected to hold the largest share of the North America market during the forecast period. This is primarily due to factors such as convenience, longer shelf life, and year-round availability. Frozen and canned seafood products provide convenience by allowing consumers to store and use seafood when fresh options are limited or unavailable. Demand from various sectors, including retail, foodservice, and industrial buyers, contributes to the frozen/canned segment's dominance.

Key Development:

• In June 2022, High Liner Foods Inc. invested in modernizing its Newport facility to meet the company's increased demand for high-quality seafood.
   
• In March 2022, Thai Union Group got involved forces with the Sustainable Fisheries Partnership (SFP) to promote supply chain transparency and analyze wider environmental implications. The collaboration with SFP is dedicated to the development of a responsible seafood business to ensure healthy marine and aquatic environments as well as a secure seafood supply.

Top Companies Includes In The North America Seafood Landscape:

• Trident Seafoods Corporation
• High Liner Foods
• Clearwater Seafoods
• Red Lobster
• Thai Union Group
• Cargill Protein North America
• Maruha Nichiro Corporation
• Pacific Seafood Group
• Mowi ASA
• Captain D's Seafood Kitchen
• Others

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In-depth analysis of North America Seafood Market along with industry coverage and forecasting for the following segments:

Market Size, By Type

• Shrimp
• Tuna
• Salmon
• Tilapia
• Pangasius
• Catfish
• Others

Market Size, By Form

• Fresh / Chilled
• Frozen / Canned 
• Processed

Market Size, By Distribution Channel

• On-Trade
• Off-Trade

Market Size, By Country

• Canada
• Mexico
• United States