ANALYSIS: Fresh Seafood Imports Decline as Prices Surge to Near Record Highs
Demand: In 2024, consumers faced a host of economic challenges that reshaped purchasing behaviors across various sectors, including the seafood market. Rising inflation, coupled with stagnant wage growth, forced many households to tighten their belts and prioritize essential spending. This financial strain led to a noticeable decline in interest for higher-priced, perishable items like fresh seafood. As families adjusted their budgets, more affordable protein sources became preferable, diminishing the demand for seafood products and impacting the industry significantly...
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