Written by The fish and seafood market has been expanding rapidly, driven by rising consumer awareness about the health benefits of lean protein sources. Fish and seafood are packed with essential nutrients, including omega-3 fatty acids, vitamins, and minerals, making them an integral part of balanced diets worldwide. The increasing inclination towards protein-rich and low-fat diets, coupled with the growing popularity of pescatarian and flexitarian lifestyles, has significantly boosted the market.
Furthermore, the demand for sustainably sourced and traceable seafood has surged, prompting companies to adopt responsible fishing practices and certification standards. Innovations in aquaculture, such as recirculating aquaculture systems (RAS) and integrated multi-trophic aquaculture (IMTA), have also played a pivotal role in enhancing productivity and ensuring year-round supply. This article delves into the market size, segmentation, trends, growth prospects, and the competitive landscape of the global fish and seafood market.
Fish and Seafood Market Size
The fish and seafood market was valued at USD 407.22 Billion in 2024 and is projected to grow at a CAGR of 4.10% from 2025 to 2034, potentially reaching USD 608.61 Billion by 2034. This growth is attributed to the increasing global population, rising disposable incomes, and an expanding middle class in emerging markets.
Key drivers of market size include the growing demand for processed and ready-to-eat seafood products, the expansion of cold chain logistics, and advancements in packaging that extend shelf life. Additionally, government initiatives promoting the consumption of seafood for its health benefits have further fueled market expansion. The surge in online retail and home delivery services has also made seafood more accessible to consumers, contributing significantly to market growth.
Fish and Seafood Market Segmentation
Type
- Molluscs: Includes oysters, clams, and squids, popular for their rich taste and nutritional benefits. Growing demand in gourmet cuisines has spurred this segment’s growth.
- Crustaceans: Comprising crabs, lobsters, and shrimps, this segment is expanding due to rising consumption in North America and Europe.
- Fishes: The largest segment, driven by the demand for species like salmon, tuna, and mackerel, which are high in omega-3 fatty acids.
- Others: Includes sea cucumbers, octopus, and other specialty seafood, catering to niche markets.
Product
- Fresh Fish and Seafood: Dominates the market due to consumer preference for unprocessed and minimally processed options.
- Canned Fish and Seafood: Popular for its convenience and extended shelf life, particularly in North America and Europe.
- Frozen Fish and Seafood: Gaining traction due to advancements in freezing technologies that preserve taste and nutrients.
- Other Fish and Seafood: Includes dried, smoked, and fermented products that cater to regional tastes and preferences.
Region
- North America: The United States and Canada are key markets, driven by high consumption of processed seafood and increasing health consciousness.
- Europe: Led by the UK, Germany, France, and Italy, with a strong demand for sustainably sourced and certified seafood.
- Asia Pacific: The largest market, driven by China, Japan, Australia, ASEAN and India, owing to a vast coastline and high per capita seafood consumption.
- Latin America: Growing demand in Brazil, Argentina, and Mexico due to a rise in disposable incomes and urbanization.
- Middle East and Africa: Increasing consumption in Saudi Arabia, UAE, Nigeria, and South Africa, supported by growing retail infrastructure.
Fish and Seafood Market Trends
Several key trends are shaping the global fish and seafood market. The most notable is the rising demand for sustainably sourced seafood. Consumers, especially in Europe and North America, are increasingly choosing products with eco-labels such as MSC (Marine Stewardship Council) certification. This shift has prompted companies to enhance their traceability and sustainability practices.
Another significant trend is the growth of aquaculture. As wild fish stocks face pressure from overfishing, aquaculture has emerged as a reliable alternative, contributing significantly to the overall seafood supply. Innovations in feed, breeding, and disease management have improved the efficiency and sustainability of aquaculture practices.
The rise of plant-based seafood alternatives is also a notable trend. Companies are investing in the development of plant-based shrimp, tuna, and salmon alternatives to cater to the growing vegan and flexitarian populations. Additionally, the increasing adoption of blockchain technology for traceability in the seafood supply chain is enhancing transparency and consumer trust.
Fish and Seafood Market Growth
The global fish and seafood market is expected to grow at a CAGR of 4.10% from 2025 to 2034. This growth is fueled by a combination of factors, including rising health consciousness, increasing disposable incomes in emerging markets, and the expanding middle-class population.
Technological advancements in cold chain logistics, packaging, and processing have significantly reduced spoilage and wastage, enhancing the efficiency of seafood distribution networks. Furthermore, the proliferation of online grocery platforms has simplified access to a wide variety of seafood products, driving sales.
Government policies promoting the health benefits of seafood consumption, coupled with subsidies for aquaculture, are also supporting market growth. The demand for processed and convenience seafood products such as canned tuna, ready-to-cook fillets, and seafood snacks is rising, particularly in urban areas, bolstering the growth trajectory of the market.
Fish and Seafood Market Forecast
The fish and seafood market is projected to reach USD 608.61 Billion by 2034, with steady growth across all product segments. Fresh fish and seafood will continue to lead the market, while frozen and canned segments are expected to witness significant growth due to increasing demand for convenience foods.
Asia Pacific is forecasted to remain the dominant region, driven by high consumption in China, Japan, and India. The North American market is also anticipated to grow robustly due to rising demand for processed and sustainably sourced seafood. Additionally, innovations in aquaculture and fishing technologies will play a crucial role in supporting sustainable growth.
The expansion of supermarkets and hypermarkets, coupled with the rising trend of online seafood retail, is expected to further propel market growth. Government initiatives aimed at enhancing domestic production and reducing import dependence are likely to support the long-term growth of the market.
Fish and Seafood Market Key Players
The fish and seafood market is highly competitive, with key players focusing on expanding their product portfolios, enhancing sustainability practices, and adopting advanced technologies. Some of the major players in the market include:
High Liner Foods Incorporated: Known for its diverse range of frozen seafood products and strong presence in North America.
Trident Seafoods Corporation: A major player in the U.S. market, known for wild-caught fish products.
Austevoll Seafood ASA: Focuses on pelagic fishery and aquaculture, with a strong global footprint.
Pacific Seafood: Known for its extensive product portfolio, including fresh, frozen, and canned seafood.
Mowi ASA: A leader in salmon farming with a focus on sustainable practices.
Tassal: An Australian company known for its responsibly farmed salmon and trout.
Others: These companies are continually innovating and expanding their product offerings to meet changing consumer demands, with a focus on sustainability, quality, and convenience.
Media Contact:
Company Name: Claight Corporation
Contact Person: Emily Jacks, Corporate Sales Specialist – U.S.A.
Email: [email protected]
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website:www.expertmarketresearch.com
Written by 
Written by