This study provides an analysis of red drum sales from 2016-17 to 2020-21. Specifically, it focuses on total sales (in value and volume), and price dynamics, as well as performance by major product categories, and the market shares of leading geographic markets. The analysis draws on weekly scanner data from AC Nielsen Consumer LLC (currently known as NielsenIQ or NIQ), covering 62 markets nationwide between September 2016 to August 2021.
Analysis reveals that total sales of red drum products increased steadily over the period in our sample, with significant growth in 2020-201 when sales reached 2.5 million US dollars, representing a 20% increase from previous year. The market was dominated by fresh products, which accounted for 97% of total sales, compared to just 3% for frozen products. Fresh red drum was sold in 16 oz packages while frozen products were sold in 28 oz packages. Most sales were for non-value-added products, with whole fish making up 68% of total red drum sales, followed by non-added-value fillets (31%) and added-value fillets (0.26%). Over time, the share of whole fish increased steadily, particularly in the fresh category, averaging 30% annual growth, while other category showed little change in market share.
The average price of frozen, non-value-added filleted red drum ranged from $8 to $10 per 28 oz pack, with recent trends indicating most sales at $10 per 28 oz pack. Frozen, non-value-added whole red drum was primarily sold at $8 per 28 oz pack, ranging from $6 to $10 per pound. Fresh filleted red drum products commanded higher prices, typically $17 for a 16 oz package, for both non-value-added products (ranging from $4 to $28) and value-added products (ranging from $13 to $22). Fresh whole red drum was mainly sold at $4 per 16 oz pack, ranging from $4 to $16. Average price growth was mostly observed for filleted products, averaging about 4% per year.
Fresh red drum is more prominent in the South Central and Mid-Atlantic regions, with sales concentrated in six South Central markets, mainly in Texas (New Orleans, Houston, San Antonio, Austin, Remaining of US South Central, and Dallas/Ft. Worth), three Mid-Atlantic markets (remaining U.S. Mid Atlantic, New York and Buffalo), and one Northeastern market (remaining U.S. New England). Together, these markets accounted for over 94% of the total market share in 2020-2021. Frozen products, by contrast, were sold in only 6 markets, heavily concentrated in the Northeast markets (Boston/Manchester, Providence RI/New Bedford MA, Remaining US New England, and Hartford/New Haven), and along with two Mid-Atlantic markets (New York and Baltimore).
Keywords: Red drum market; US retail sales; Fresh and frozen.