A new mark
eting report suggests that the value of the U.S. seafood industry will grow to USD 17.1 billion (EUR 12.7 billion) by 2017, despite the industry being at “an odd crossroads.”
The report, from Companies and Markets, indicates the crossroads comes from dollar sales being up, while unit sales and volumes are down. Also, the report indicates “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.”
The report predicts retail sales will go up at a compound annual growth rate of 3.1 percent over the next five years. The 2017 predicted value is nearly USD 2.5 billion (EUR 1.9 billion) higher than the USD 14.7 billion (EUR 10.9 billion) recorded at the end of 2012. It would have been higher were it not for various economic factors, according to the report.
“Domestic seafood processing is challenged in the best of times by artificially low prices for imported frozen seafood — often as much as 60 percent lower than U.S. seafood due to the lack of comparable wage rates and regulations,” the report said. “The negative effects of the recession have affected the quality of purchases as well.”
eting report suggests that the value of the U.S. seafood industry will grow to USD 17.1 billion (EUR 12.7 billion) by 2017, despite the industry being at “an odd crossroads.”The report, from Companies and Markets, indicates the crossroads comes from dollar sales being up, while unit sales and volumes are down. Also, the report indicates “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.”
The report predicts retail sales will go up at a compound annual growth rate of 3.1 percent over the next five years. The 2017 predicted value is nearly USD 2.5 billion (EUR 1.9 billion) higher than the USD 14.7 billion (EUR 10.9 billion) recorded at the end of 2012. It would have been higher were it not for various economic factors, according to the report.
“Domestic seafood processing is challenged in the best of times by artificially low prices for imported frozen seafood — often as much as 60 percent lower than U.S. seafood due to the lack of comparable wage rates and regulations,” the report said. “The negative effects of the recession have affected the quality of purchases as well.”
