April 19, 2023 — Overall U.S. food inflation and seafood inflation continued to dampen consumer spending power in March, pushing down retail seafood sales. However, private label seafood product sales are on the upswing, along with overall food and restaurant sales.
Fresh seafood prices realized “a small uptick” of 2.6 percent in March 2023 versus March 2022, 210 Analytics Principal Anne-Marie Roerink said, citing Circana data.
April 11, 2023 — Inflation and higher interest rates are straining private-equity funds that used leveraged buyouts to buy into the food and beverage market in recent years.
Private-equity funds purchased 786 companies in the food and beverage space in 2021 for a combined USD 32 billion (EUR 29.5 billion). The total sunk to USD 9.7 billion (EUR 8.9 billion) through the first 11 months of 2022, according to S&P Global Market Intelligence, in part due to rising inflation and interest rates and geopolitical instability.
April 5, 2023 — Inflation is changing how Americans shop for seafood, executives with Category Partners said during a presentation at Seafood Expo North America, 12-14 March in Boston, Massachusetts, U.S.A.
According to the Idaho Falls, Idaho, U.S.A.-based strategic insights company, which focuses exclusively on the fresh industries in the retail grocery channel, average retail prices of frozen seafood jumped 6.6 percent for the 13 weeks ending 4 February, resulting in a 8.3 percent drop in sales by volume and a 2.2 percent decline in dollar sales. Conversely, fresh seafood inflation was 1.1 percent for the quarter, resulting in a 2.9 percent slide in sales by volume, though the category realized a 1.9 percent increase in dollar sales, according to the NielsenIQ scan, powered by Category Partners analysis.
February 14, 2023 — Seafood has continued to see lower inflation rates than many other foods, but price hikes continue to impact its sales across the United States.
Frozen seafood prices jumped 6.3 percent in January to USD 10.44 (EUR 9.74) per unit on average compared to January 2022, according to IRI and 210 Analytics. Ambient seafood inflation rose 7.4 percent to USD 2.14 (EUR 2.00) on average, and fresh seafood experienced the lowest inflation at 3.3 percent to USD 8.95 (EUR 8.35) per unit on average.
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November 17, 2022 — Inflation continues to depress U.S. seafood sales, but the sales drop in October was less than in previous months.
Shelf-stable seafood prices soared 12.5 percent, while frozen seafood prices spiked 10.2 percent, and fresh seafood prices rose 4.2 percent. Fresh shellfish prices declined by 2.7 percent, according to new data from IRI and 210 Analytics.
October 19, 2022 — As consumers become increasingly concerned about grocery inflation, select Canadian and United States grocery chains are lowering prices on hundreds of products.
In the most notable example, Brampton, Ontario, Canada-based Loblaw Companies announced a price freeze on more than 1,500 No Name brand items “in an effort provide grocery-bill predictability to Canadians facing the highest food inflation in decades,” the retailer said in a press release. The price freeze will last until the end of January 2023.
October 17, 2022 — Americans’ purchasing habits are being further affecting by inflation, leading to them reduce their fresh and frozen seafood purchases.
Prices of frozen seafood, fresh finfish, and shelf-stable seafood were significantly higher in September compared to last year, according to new data from IRI and 210 Analytics, though prices on fresh shellfish actually dropped.
September 13, 2022 — Inflation continued to impact fresh and frozen seafood sales in U.S. supermarkets in August 2022.
Fresh seafood sales plunged 6.1 percent in August to USD 504 million (EUR 504 million), according to new data from 210 Analytics and IRI Worldwide. Frozen seafood sales declined at a slower rate of 3.6 percent to USD 530 million (EUR 530 million). Conversely, shelf-stable seafood sales rose 5.3 percent to USD 213 million (EUR 213 million).
August 24, 2022 — Seafood inflation in grocery stores across the United States has been sky-high in recent months, and new data shows shoppers are buying less as a result.
Fifty-six percent of nearly 1,500 shoppers surveyed in early August 2022 said they noticed increases on meat and seafood prices throughout the past month, according to FMI-The Food Institute’s fifth edition of the U.S. Grocery Shopper Trends 2022 series, focused on the country’s annual back-to-school drive.
Read the full story at SeafoodSource
August 12, 2022 — Overall grocery inflation reached a record in July, but inflation for seafood products outpaced total grocery inflation, according to new data.
The inflation hitting seafood products is outpacing total grocery inflation, and is up 16.8 percent in July versus a year ago, data and tech firm Numerator told SeafoodSource. Frozen seafood grocery prices also soared 14.4 percent versus a year ago – but shrimp and prawns are below the average rate of inflation, rising 8.5 percent.