Prepared seafood category shows promise

U.S. supermarket sales of prepared seafood items realized steady growth in 2009 and 2010, led by new private-label creations. Sales of prepared seafood entrées and platters increased 1.8 percent to USD 620 million for the 52 weeks ending 31 July, compared to the same period last year, according to data The Perishables Group provided to SeafoodSource.

Because retail prices have been lower this year due to the economy, dollar sales of prepared seafood items rose less than volume, which climbed 2.2 percent to 126.5 million units, according to The Perishables Group.

Notably, 12 of the top 20 prepared seafood items over the last year were private-label products.

“This certainly suggests that retailers are active in developing new prepared items with their supplier partners,” said Steve Lutz, executive VP of The Perishables Group, a Chicago-based market research firm.

For example, the No. 1 seller was platters of private-label cocktail shrimp, which retailed for an average of USD 8.44 each, reaching USD 2.79 million and 330,997 units during the 52 weeks ending 31 July.

After cocktail shrimp, the top-selling prepared seafood item was unbranded, cooked Dungeness crab at USD 2.5 million and 527,815 units, followed by tiger shrimp rings at USD 2.2 million and 424,414 units. Lutz was surprised at the premium price — from USD 3.55 to USD 7.33 each — that some of the top 20 prepared seafood items are garnering.

“Many of these top-selling new items are not cheap,” said Lutz.

Salmon and tilapia entrées were the only finfish items to have cracked the top 20 list in the past year.

“The fish and seafood meals subcategory is a relatively small segment of prepared seafood, at around only USD 5 million out of the total USD 620 million in sales,” said Lutz.

Other top-selling prepared seafood items for the 52 weeks ending 31 July included Beacon Light Tomato Basil Tilapia at USD 860,331 and 174,282 units; private-label cold-smoked salmon at USD 665,985 and 141,644 units; hot-smoked salmon at USD 662,765 and 158,017 units; Gorton’s Grilled Lemon Tilapia at USD 633,978 and 178,373 units; and Beacon Light Steamed Lemon Dill Salmon at USD 628,042 and 100,581 units.

Prepared seafood items that declined in dollar sales and volume in the past year included lobster meals (down 60.8 percent), shrimp meals (down 19 percent) and clam meals (down 13.4 percent).