Beyond the Plate: The Forces Reshaping North America's Seafood Market

TORONTO, ON – November 27, 2025

The North American fish and seafood market, a sprawling industry valued at nearly $20 billion in 2024, is navigating a period of profound transformation. While the United States continues to anchor the market, a powerful new current is emerging from the south. A recent industry guide reveals that Mexico is experiencing explosive growth, reshaping regional trade dynamics and challenging long-held assumptions. But this shift isn't just about economic figures and market share; it's a story driven by evolving consumer values, technological innovation, and a growing understanding of the deep connections between our food systems, our health, and the well-being of our communities.

Mexico's Seafood Surge

For years, the narrative of the North American seafood market was a familiar one, dominated by the US and Canada. However, the latest data paints a startlingly different picture. Between 2020 and 2024, Mexico’s fish and seafood industry grew at a compound annual rate of 10.2%, a staggering pace that far outstrips its northern neighbors. With a market value of $5.01 billion in 2024, Mexico is not just a minor player anymore; it is on a trajectory to become a formidable force, projected to reach nearly $7 billion by 2029.

This remarkable growth isn't accidental. It's the result of a powerful confluence of factors. A burgeoning domestic aquaculture sector, supported by advancements in farming technology, is making a wider variety of seafood more accessible and affordable. This expansion helps satisfy a growing internal demand, as Mexican consumers, much like their counterparts across the continent, are increasingly seeking out protein-rich foods with clear health benefits. This trend is amplified by the nation's broader economic development, which has shifted dietary patterns toward more diverse and higher-value products.

Furthermore, the United States-Mexico-Canada Agreement (USMCA) has played a crucial role by streamlining trade flows and fostering a more integrated regional supply chain. This policy framework has not only facilitated easier access for Mexican seafood into the vast US market but has also created a more stable environment for investment and cross-border collaboration. The impact extends beyond balance sheets, fueling economic development and creating vital jobs in Mexico's coastal communities, demonstrating how strategic trade can directly foster community resilience.

Health, Conscience, and the Modern Consumer

While market dynamics are shifting, the engine driving the entire industry forward is the consumer. Across Canada and the US, the demand for seafood is increasingly shaped by two intertwined motivations: personal health and planetary health. The well-documented benefits of omega-3 fatty acids, high-quality protein, and essential nutrients have made fish like salmon and tuna staples for health-conscious individuals. This has cemented seafood's place as a cornerstone of a wellness-oriented lifestyle.

However, today’s consumers are asking for more. The question is no longer just, “Is this good for me?” but also, “Is this good for the planet?” This rise of the conscious consumer has made sustainability a non-negotiable aspect of the seafood industry. Certifications from organizations like the Marine Stewardship Council (MSC) and guidance from programs like the Monterey Bay Aquarium Seafood Watch are no longer niche concerns; they are powerful market drivers. Consumers are actively looking for these labels and are willing to reward brands that demonstrate a genuine commitment to responsible sourcing.

This demand for transparency is pushing the industry toward comprehensive traceability. The ability to track a product from “sea to plate” is becoming a critical tool for building consumer trust, ensuring food safety, and combating the pervasive problem of illegal and unregulated fishing. In this new paradigm, a company's environmental and ethical record is as crucial to its brand identity as the quality of its product.

Innovating for a Sustainable Supply

The industry is responding to these consumer demands with a wave of innovation, both on the farm and in the grocery aisle. With wild fish stocks facing pressure globally, aquaculture has emerged as an essential component of a sustainable food future. Farmed varieties now account for over half of the North American seafood market, providing a reliable and controlled supply that can alleviate pressure on ocean ecosystems.

Leading the charge are advanced technologies like Recirculating Aquaculture Systems (RAS). These land-based fish farms minimize water usage, prevent escapes of non-native species, and reduce the risk of disease transmission, offering a model for high-intensity production with a lower environmental footprint. Simultaneously, innovations in blockchain technology are being explored to provide the immutable, transparent traceability that conscious consumers demand, creating a digital link between the producer and the final product.

This innovation extends to the products themselves. While convenient and affordable canned and frozen seafood—led by giants like Thai Union Group, Bumble Bee Foods, and High Liner Foods—continue to command a large market share, there is a growing appetite for value-added and ready-to-eat options that cater to busy lifestyles without compromising on quality or health. From pre-marinated fillets to complete seafood meal kits, companies are finding new ways to make healthy eating both easy and exciting.

The Canadian Catch: Navigating a Complex Current

Within this dynamic North American landscape, Canada holds a steady, if more modest, position. With a market valued at $2.85 billion in 2024 and projected to grow to $3.10 billion by 2029, the Canadian industry is navigating its own unique set of challenges and opportunities. Consumers have felt the pinch of rising fish prices, driven in part by supply chain disruptions and broader economic pressures. Yet, the nation's seafood sector is showing its resilience.

Canada's own aquaculture industry has seen substantial growth, reinforcing its domestic production capacity and its reputation for high-quality products, particularly salmon. Furthermore, specific segments are showing signs of robust growth, with processed shrimp expected to be a key driver for the Canadian market in the coming years. For Canada, the path forward lies in leveraging its strengths in quality and sustainable practices while strategically adapting to the competitive pressures of a more integrated, and rapidly changing, continental market.

The numbers in the latest market reports are more than just data points; they are indicators of a fundamental shift in how we produce, trade, and consume one of our most vital food sources. The future of the North American seafood industry is being defined not only in corporate boardrooms and at trade negotiation tables, but in the daily choices of millions of people who are demanding food that nourishes both their bodies and the planet. These interconnected forces of health, ethics, and economics will continue to shape the vitality of communities across the continent for years to come.