Recognizing that more Americans are preparing meals at home to save money, some U.S. retailers are promoting their seafood meals as an affordable option.
The share of home-prepared meals rose from 78.9 percent in November to 81.5 percent in December, according to IRI’s December Consumer Sentiment survey. Conversely, the share of households that purchased restaurant meals declined from 80 percent in November to 76 percent in December,
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Well ahead of the Lenten season, U.S. restaurant chains are promoting new dishes utilizing lobster and shrimp – relatively affordable seafood options for foodservice buyers.
Quiznos and Qdoba are among the companies featuring new seafood dishes for Lent, which runs from 22 February through 6 April.
While shrimp prices rose in 2022, consumer demand for shrimp is still growing, Rich Products Consumer Brands Division Senior Vice President
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The U.K. grocery retail landscape continues to suffer losses after months of soaring inflation and record-setting grocery price inflation in January.
Inflation of U.K. grocery prices reached 16.7 percent in the four weeks ending 22 January, 2023, according to Kantar, the highest level since the research firm started tracking the figure in 2008.
“Late last year, we saw the rate of grocery price inflation dip slightly, but that small sign
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Chicken of the Sea International has embarked on a rebranding project amid a resurgence in U.S. shelf-stable seafood sales.
The rebrand – Chicken of the Sea’s first in 20 years – includes a “Wild-Caught Happiness” marketing campaign and a logo redesign featuring a modern illustration of its mermaid mascot, Catalina, to “better embody the inspiring character she has always been,” the company said in a
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Driven by continued high labor and commodity costs, along with consumer inflation concerns, the outlook for the U.S. foodservice industry looks bleak for the first half of 2023.
The U.S. Bureau of Labor Statistics reported a 8.3 percent year-over-year hike in prices for food away from home in December 2022, with sales dropping 0.9 percent to USD 88.3 billion (EUR 81 billion) from November to December, according to preliminary data from the U.S.
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Santa Monica Seafood’s revenue is expected to exceed USD 700 million (EUR 640 million) in 2023 as the seafood processor and distributor expands on the U.S. East Coast.
The Rancho Dominguez, California, U.S.A.-based firm surpassed USD 600 million (EUR 552 million) in revenue in 2022 and anticipates passing USD 700 million in revenue in 2023, President and CEO Roger O’Brien told SeafoodSource.
Instead of focusing on acquisitions this
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Several U.S. restaurant chains are featuring shrimp in new promotions – along with mahi, wahoo, and other fish.
Shrimp has become more popular among foodservice buyers as wholesale farmed shrimp prices have remained relatively steady over the past year, while other prices for other shellfish species have spiked.
While Charoen Pokphand Foods Executive Vice President Robins McIntosh predicted a slight decline in global farmed
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The U.S. Department of Agriculture is continuing its purchase of U.S. seafood products this year, awarding salmon contracts worth more than USD 8 million (EUR 7.4 million) in early January 2023.
Seattle, Washington, U.S.A.-based OBI Seafoods will supply the USDA with nearly USD 6.4 million (EUR 6.9 million) in canned pink salmon and frozen salmon fillets, while Sitka, Alaska, U.S.A.-based Silver Bay Seafoods will supply nearly USD 1.7
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While 2022 was a challenging year for retail seafood sales due to inflation amongst other problems, retailers and analysts are optimistic for a brighter 2023.
Fresh seafood sales across retail outlets dropped 8.2 percent to USD 6.5 billion (EUR 6 billion) for the year ending 1 January, according to IRI and 210 Analytics. Frozen seafood realized a much smaller decline, falling 2.9 percent to around USD 7.1 billion (EUR 6.6 billion).
Shelf-stable
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Higher ingredient costs will continue to plague restaurant operators in 2023, forcing them to streamline menus, according to several foodservice industry experts.
Their overall outlook for seafood on U.S. restaurant menus in 2023 is mixed, even as restaurant chains start out the new year with new seafood offerings.
“We expect seafood to continue to have a relatively flat operator penetration rate of change on restaurant menus over the next
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