ARLINGTON, VA — FMI – The Food Industry Association today released the Power of Seafood 2023 report, revealing seafood department sales totaled $16.2 billion in 2022, a 3.8% decrease over 2021 as inflation raised the prices of fresh and frozen seafood.
The drop in sales reversed an upward trend that featured record sales during the COVID-19 pandemic, although seafood sales were still higher in 2022 than in 2019, driven in part by shoppers’ desire to both eat healthier and include more environmentally friendly options in their diet.
“Inflationary price increases certainly had a negative impact on the sale and consumption of seafood in 2022, with many shoppers turning to more affordable proteins as they adjusted their spending habits to the economic environment,” said Rick Stein, vice president for fresh foods at FMI. “However, seafood sales were up compared to 2019 despite elevated prices, indicating that shoppers who became more comfortable cooking seafood during the pandemic continue to appreciate the health benefits of preparing seafood at home. Given shoppers increasing interest in health and well-being, adding more variety to their diet, and eating more sustainable foods in general, we expect the category to rebound once inflationary pressures ease.”
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