Inflation continues to hamper overall grocery and fresh seafood sales, but the holiday season offers an opportunity for shoppers to splurge on items like crab, lobster, and shrimp.  

Funding from the round will go toward Forsea’s development of cultured seafood alternatives and its first product, an eel meat replacement for use in dishes like kabayaki and sushi.

In 2021, Bensenville, Ill.-based Fortune Fish & Gourmet found itself in a dilemma. Because of limited crab supplies due to a new Alaskan catch quota, Fortune found itself hustling to find product to fill orders and keep prices at levels the market could bear.

Seafood lovers nationwide can now enjoy a taste of the South thanks to St. Simons Island, Ga.-based SeaPak’s new Southern Style Jumbo Shrimp. 

As seen since this spring, high prices on fresh seafood continue to dampen sales. Inflation on overall fresh seafood rose 10.9% on average per unit in June, according to IRI and 210 Analytics.  

The record inflation in fresh seafood and across the grocery store this year has led to some innovation promotions and “value” merchandising in the fresh seafood department.  

Nearly half of shoppers put at least some effort into selecting plant-based food and beverages, and many expect to increase consumption in the future, according to data from FMI — The Food Industry Association’s inaugural “Power of Plant-Based” report.

Throughout July, more than 3,200 retailers have been promoting the Bristol Bay Seafood Association’s Bristol Bay Sockeye Salmon.

Despite a drop in fresh seafood sales due to inflation in recent months, grocers are banking on shoppers’ love for grilling, boils and bakes to boost seafood sales this summer.

Thanks to record-high grocery inflation, fresh seafood sales plunged 13.2% to $618 million in May, according to IRI and 210 Analytics.