Wonder

Research Outline

Prepared for Mark | Delivered November 19, 2019

Consumer Spend on Seafood

Goals

To determine the total annual spend on seafood, meat, and chicken products at grocery stores in the US, and the total consumer spend on seafood in the food services space, especially quick-service restaurants. This is to help inform your business strategy.

Early Findings

The total retail market size for the US Fish and Seafood Market grew to $12 billion in 2019. 
According to the Food Marketing Institute (FMI), 80% of all seafood purchases including fresh, canned, and frozen variants were sold through grocery stores in 2018 — representing $9.6 billion in total sales volume.
On average, about 42% of seafood is sold fresh, 39% is sold frozen, and 18% as canned or processed. 
The US poultry market fell slightly to $24.5 billion in 2018 from a record revenue of $24.8 billion in 2017.
On the other hand, the fresh beef market is significantly higher at $67 billion.  
About $1 billion was spent on canned meat in 2018, while $13 billion was spent on meat through restaurants and delis. According to the Food Marketing Institute (FMI), 85%  (51% supermarket and 34% supercenter) of all meat purchases including fresh, canned, and frozen variants were sold through grocery stores in 2018 — representing $56.95 billion in total sales volume.