US Seafood Expenditure
Identify the total amount spent by US consumers on seafood per year, including specifically at restaurants and quick-service restaurants.
- US consumers per capita ate 16 lbs of seafood in 2017.
- This equated $69.6 billion for seafood expenditures at food service establishments (including restaurants, carry-outs, caterers, etc.).
- In 2017, US consumers spent $32.5 billion on seafood sold in retail sales for home consumption.
- In 2017, US consumers spent $39.8 million for industrial fish products.
- Very limited information was found regarding how much seafood is consumed at different types of restaurants, including quick-service restaurants.
- However, according to NHANES data from 2000, only 4% of seafood is consumed at fast-food restaurants.
- The top 10 US seafood chains include Red Lobster, Landrys/Joes Crab Shack/Chart House, Long John Silvers, Captain Ds Seafood, McCormick & Schmicks, Bonefish Grill, Legal Seafood, McGrath’s Fish House, Bubba Gump Shrimp Co., Rockfish Seafood Grill, and Shells Restaurant.
Proposed next steps:
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As the initial research found that seafood may be a growing category for US restaurants, including quick service restaurants, we recommend further research to identify 3-5 trends for seafood in the restaurant space, with at least one trend focusing on quick-service restaurants. For each trend we will explain what the trend is, how it could affect the seafood market, and provide 1-2 examples of restaurants illustrating the trend.
Additionally, we recommend further research to identify 3-5 trends in how US consumers are utilizing seafood at home, and any trends in their consumption. For each trend we will explain what the trend is, and how it could affect the seafood market, as well as provide an example of the trend.