Despite a significant increase in seafood prices in November, overall U.S. seafood sales still realized some gains in the fresh and ambient categories.
Fresh seafood prices increased 4.1 percent in November, led by a spike in fresh shellfish prices of 8.4 percent compared to November 2024, according to data from Chicago, Illinois, U.S.A.-based market research firm Circana analyzed by 210 Analytics.
Within the category, the greatest price increase was fresh crab, which surged 21 percent. Fresh shrimp prices increased 11 percent, fresh cod rose 8.3 percent, fresh tilapia was up 3.2 percent, and fresh salmon rose 1.2 percent.
Sales by value of fresh seafood rose 1.3 percent year over year to USD 606 million (EUR 517 million), but sales by volume decreased 2.6 percent year over year.
Sales by value of fresh finfish grew 5.2 percent in November to USD 405 million (EUR 344 million), while sales by volume grew 3.4 percent.
Fresh salmon performed especially well, with sales by value rising 6.8 percent and sales by volume growing 5.6 percent. Tilapia sales by value also increased nearly 15 percent, while sales by volume grew 11 percent. Trout also performed well, with sales by value growing 8.4 percent and sales by volume growing 6.2 percent.
Conversely, fresh shellfish sales by value dropped 5.7 percent to USD 171 million (EUR 145 million), while sales by volume plummeted 13 percent.
“Whereas finfish dollar and pound sales have been increasing since late 2024, shellfish sales have been trending in the negative since the start of 2024,” 210 Analytics Principal Anne-Marie Roerink said.
Frozen seafood prices jumped 7 percent during the month, resulting in sales by value staying relatively stagnant at USD 569 million (EUR 486 million) and sales by volume dropping 6.4 percent year over year.
Shelf-stable seafood inflation, meanwhile, increased 5.2 percent during November.
Despite the price increase, seafood sales by value in the category jumped over 10 percent to USD 252.6 million (EUR 215 million), while sales by volume grew 4.6 percent. Once again, sardines realized the heftiest growth, surging 31.8 percent by value and 27 percent by volume.
Seafood prices continue to fluctuate widely this year, and consumers’ financial strain is definitely having an impact on sales, Roerink told SeafoodSource.
Even with inflation, though, seafood sales can still perform well, she said.
“Beef teaches us that the marketplace isn’t all about price. Beef prices are at a record high, yet beef continues to grow,” Roerink said. “In fact, beef has had the highest growth of all land animal protein and is winning in value and premium cuts. So, yes, seafood prices are a barrier but one we can overcome with the right messaging, marketing, and merchandising.”
