Although the Pandemic seriously impacted the seafood industry , it also created opportunities for farm-raised seafood.
A More Seafood Savvy Consumer: Prior to the pandemic, most Americans viewed seafood as a luxurious dinner-out treat. In the U.S. , approximately two-thirds of all seafood consumption took place away from the home in restaurants and other foodservice establishments. As a result of lock-downs, restaurant closures, concerns about a healthy diet, and additional free time; more home cooks started sharpening their seafood skills. They experimented with new recipes and less-familiar species. They also began sharing their new-found culinary skills with others on social media. Increasing familiarity with seafood preparation will alter consumer expectations and demands in both the retail and foodservice sectors.
A More Environmentally Conscious Consumer: Consumers have been bombarded with messages about climate change and dire warnings about availability of food. These ideas are resonating and attitudes toward farmed seafood are changing . In a recent survey of culinary educators, 88% percent felt that aquaculture was more sustainable in terms of land and water use than terrestrial animal production.
A Changing Supply Chain: It is estimated that between 85 and 90% of all the seafood consumed in the U.S. is imported. The loss in international trade as a result of border closures, changes in tariff rates, and disruptions to transportation meant a greater dependency on domestic production. This gap between supply and demand widened and prices rose. These economic disruptions forced seafood producers to restructure their standard business models and connect more directly with consumers and retail markets. The growing connection between producer and consumer can help to develop a positive awareness of aquaculture that builds on the widely accepted farm to table concept. The se new market channels can be expected to grow as we move out of the Pandemic.
A More Competitive Price Structure: With limited supplies and the rising cost of other center of plate proteins, farm raised seafood is becoming more price- competitive. It is not subject to the drastic price swings experienced in wild harvest seafood. The question is which farmed species can be used in place of higher price ticket wild species and how best to position those products on the menu.
The challenge for growers is to respond to the needs of foodservice providers and consumers.