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Business Environment Profiles - United States

Price of seafood

Published: 17 July 2025

Key Metrics

Price of seafood

Total (2024)

287 Index

Annualized Growth 2019-24

3.3 %

Definition of Price of seafood

The price of seafood represents an index of the prices received by fresh and frozen seafood processors for their output. Seafood represents both fish and shellfish. Canned seafood is not included. Data is presented as an index, sourced from the Bureau of Labor Statistics and forecasted with data from the Organization for Economic Co-operation and Development (OECD).

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Recent Trends – Price of seafood

The price of seafood is estimated at an index value of 284.3, representing a decline of 0.9% from the previous year. This decrease follows modest growth in 2024 and aligns with a period of volatility driven by uneven supply and demand dynamics in the seafood market. Consumer enthusiasm for seafood, underpinned by its nutritional advantages over red meat and alignment with low-fat, high-protein dietary trends, continues to sustain baseline demand. Despite this, seafood prices have shown significant sensitivity to both macroeconomic and industry-specific factors in recent years.

Between 2020 and 2025, the price of seafood experienced pronounced fluctuations. The index spiked by 11.3% in 2021 as rapid growth in consumer demand outpaced supply recovery in the wake of the COVID-19 pandemic. Supply chain challenges, including transportation bottlenecks and labor shortages, contributed to constrained availability, while the relaxation of pandemic restrictions and widespread vaccine distribution triggered a resurgence in demand. These conditions drove another substantial price increase of 13.0% in 2022. However, supply chain normalization and a moderation in consumer demand led to a correction in 2023, when prices fell by 9.1%. This volatility reflects the seafood market's susceptibility to global disruptions, such as public health emergencies and logistical challenges. The seafood price index rebounded slightly by 1.3% in 2024, as demand stabilized and global supply chains improved. The market returned to a more balanced state in 2025, with prices stabilizing before the slight decline captured in the current index value.

Other notable macroeconomic factors affecting seafood prices during this period have included input cost volatility and international trade dynamics. Elevated prices for animal feed, driven by global demand for biofuels and fluctuations in agricultural commodity markets, have increased costs for aquaculture, feeding into higher retail prices. Additionally, currency movements and shifts in export demand, particularly during periods when the US dollar appreciated, have contributed to changes in domestic seafood pricing.

Over the five years to 2025, the price of seafood has increased at an annualized rate of 3.3%. This growth reflects both sustained consumer interest and the sector's responsiveness to global supply shocks, input cost pressures, and shifting dietary preferences. Ongoing macroeconomic uncertainties, including variable demand from emerging export markets and continued input inflation, remain important to the outlook for seafood prices.

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5-Year Outlook – Price of seafood

The price of seafood is forecast to recover slightly in 2026, with the index projected to increas...

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