FMI – The Food Industry Association has released its highly anticipated Power of Seafood 2023 report, providing valuable insights into the evolving landscape of seafood consumption and buying habits. This comprehensive analysis sheds light on consumer behavior, market-changing trends, and the growing preference for sustainable seafood options.
Seafood Sales and Market Dynamics
According to the Power of Seafood 2023 report, seafood department sales totaled $16.2 billion in 2022. Although there was a slight 3.8% decrease compared to the previous year, this decline was primarily attributed to inflationary pressures that led to higher prices for fresh and frozen seafood.
Despite the drop in sales, it is important to note that seafood sales in 2022 still exceeded those of 2019, showcasing continued consumer interest in healthier and environmentally friendly dietary choices. This trend reflects a growing awareness of the nutritional benefits of seafood and the desire to support sustainable food practices.
Comparison of Fresh and Frozen Seafood
In 2022, the sales of fresh seafood experienced a decline, dropping from $7.1 billion in 2021 to $6.5 billion. On the other hand, frozen seafood sales, which were lower than fresh seafood in 2019, surpassed fresh seafood sales in 2020. However, frozen seafood sales also faced a setback in 2022, reaching $7.1 billion, which represents a decrease of 2.8% compared to the previous year.
Decrease in Seafood Consumption Frequency
According to the Power of Seafood 2023 report, there has been a decline in the number of frequent (two or more times a week) and occasional (once a month to one time a week) seafood consumers. In 2021, 59% of shoppers fell into these categories, whereas in the current year, that number has dropped to 53%. However, among these consumers, 55% are now cooking seafood more frequently, and they feel more comfortable doing so since the pandemic (47%).
Changing Consumer Preferences
The report highlights a significant shift in consumer behavior regarding seafood consumption. The COVID-19 pandemic prompted consumers to explore cooking seafood at home, resulting in increased comfort and frequency in preparing seafood dishes.
Furthermore, the Power of Seafood 2023 report underscores the rising emphasis on health and sustainability in consumers’ food choices. Seafood, renowned for its nutritional value and omega-3 fatty acids, has gained popularity as a preferred protein source. Consumers are also seeking out seafood options that align with sustainable fishing practices and have a reduced impact on marine ecosystems.
The Role of Ocean Treasure
Amidst these changing trends, Ocean Treasure, a China-based French company, has made strides in promoting sustainable practices in the industry. Based in China, Ocean Treasure exports a diverse range of seafood products, including popular items like Tilapia, Panga, Tuna, Alaska Pollock, and over 80 other seafood varieties.
Ocean Treasure’s commitment to quality and sustainability has contributed to its prominence in the seafood industry. The company ensures that its products adhere to stringent sourcing, processing, and distribution standards, guaranteeing customer satisfaction. By prioritizing sustainable fishing practices, Ocean Treasure supports the preservation of marine ecosystems and aligns with the growing demand for environmentally conscious food choices.
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