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Research Outline
Prepared for Mark | Delivered November 19, 2019
Consumer Spend on Seafood
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Goals
To determine the total annual spend on tuna products (fresh, frozen, canned, all form factors etc.) at grocery stores in the US for a business strategy.
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Early Findings
Tuna Statistics
Tuna in all forms represents more than
one-third
of the total fish and seafood segment in the U.S. and more than half of the
f
i
n
f
i
s
h
segment.
Canned tuna
is the second most popular seafood product in the U.S. after shrimp.
In the U.S., Americans eat about
1 billion pounds
of canned and pouched tuna a year. Only coffee and sugar exceed canned tuna in sales per foot of shelf space in the grocery store.
Of those Americans who eat canned tuna, the vast majority,
83
percent, eat it for lunch. In fact, canned tuna is the only regularly consumed seafood at lunch.
Americans eat more tuna in the
s
u
m
m
e
r
t
i
m
e
–
nearly
30
percent of tuna eating occasions are during the summer. Consumption is lowest in October, November and December.
Tuna Market
The Global Canned Tuna market will register a 2.4% CAGR in terms of revenue, the global market size will reach US$
4479.7
million by 2024, from US$ 4066.6 million in 2019.
Summer demand for non-canned tuna was good in the United States of America, particularly for fillets and steaks. The US market is also the world’s largest importer of fresh/chilled tuna, with a total volume of
11,600
tons during the first half of 2018, which is almost twice the volume imported by Japan during the same period in 2017. Japan is still the largest
s
a
s
h
i
m
i
tuna market in the world.
During the review period, there was a notable
26 percent rise
in high-value
b
l
u
e
f
i
n
tuna imports in the United States of America. Overall supply of
a
i
r
f
l
o
w
n
tuna fell by 4 percent due to lower catches of
y
e
l
l
o
w
f
i
n
and
b
i
g
e
y
e
tuna in the supplying countries.
Imports of the popular tuna fillet (mostly frozen tasteless smoked and carbon monoxide treated products) also increased by 15 percent to
16,000 tons
during this period. The leading suppliers were Indonesia, Viet Nam, the Philippines and Thailand. There was also a 51 and 7 percent increase in high quality
s
a
s
h
i
m
i
grade fillet imports from Spain (350 tons) and Japan (343 tons), respectively.
The average price of tuna fish has remained steady over the past few years. Tuna had an average price of around
0.9
U.S. dollars per pound in the United States in 2016 and 2017.
266.43
million Americans consumed tuna (can or pouch) in 2019.
Americans ate
16
pounds of fish and shellfish products in 2017 on a per capita basis.
In 2016, the average consumption of tuna, in pounds was
671
million.
In 2017,
1,036,090
pounds of tuna was either caught or imported into the United States.
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