The National Fisheries Institute (NFI) held its annual Global Seafood Market Conference in San Diego, California, last week, and Bristol Seafood has some of the top takeaways from the event.
They are:
- Seafood consumption is up 1.1 lbs. for a total of 16 lbs. in 2017.
- In 2015 the average American ate 15.5 lbs. of seafood but 129 lbs. of sugar.
- Scallop landings were up in 2018 and expected to grow again in 2019 and 2020.
- Lower scallop prices in 2018 has spurred usage in seven out of eight U.S. census regions.
- Global cod supply is down, prices are up, but broad line sales are up in all but the South Central region.
- Haddock consumption was up in seven out of nine census regions with the highest growth in the Southeast due to snow birds from New England.
- Broad line distribution seafood sales are up 5 percent year over year due to higher prices and growth in shellfish pound sales in the urban cities of the Atlantic states.
- Increased supply of beef, pork and poultry is anticipated in upcoming years and will result in a lower priced protein vs. seafood.
- While sustainability remains important for all retailers, it’s last in the decision-making hierarchy of the shopper. Topping the list is the price/quality perception.
- Seafood shoppers want to be more knowledgeable on seafood and are requesting more preparation instructions and recipes.
