Inflation is driving category value despite declining consumption.
Seafood consumption in the UK has seen significant declines, with a 22% drop from 2006 to 2022, accelerating to a 30% decline post-COVID-19.
Current consumption remains at just over one portion per person per week, half the recommended amount for good health, according to the Fish as Food report from leading UK seafood authority Seafish.
Meat is typically consumed around 15 occasions per week, by comparison.
Despite financial pressures, demand for farmed and convenient seafood products remains steady, while welfare concerns are likely to see a neutral effect in terms of driving consumption but will remain important as necessary components influencing market access, according to the report.
Seafood retail sales, which experienced a temporary boost during COVID-19, have returned to a price-driven growth pattern, with inflation driving category value despite declining consumption.
Seafood inflation peaked at 12% and fell to 6.5% by the end of 2023. Retail sales have declined by 13.6% since their 2021 peak, with only the cheapest seafood sectors, such as frozen products and value species like Alaska pollock, showing volume growth.
In the food service sector, seafood servings remain below pre-pandemic levels, down 18% compared to 2019. However, seafood has outperformed total food service, with servings up 6% versus a 4% increase for total food and drink.
Growth in seafood servings has been observed in Quick Service Restaurants, Pubs, Travel and Leisure, Workplace, and Education, while Full Service Restaurants and Fish & Chip Shops have seen declines.
