The fish and seafood market has been growing steadily in recent years, driven by rising consumer awareness of the nutritional benefits of fish, increased demand for convenience foods, and the expansion of sustainable sourcing practices. As seafood becomes a key component in healthy diets and culinary cultures around the world, the market is expected to continue its upward trajectory. The global fish and seafood market is projected to grow at a compound annual growth rate (CAGR) of 7.40% from 2025 to 2034. In this blog post, we will explore the fish and seafood market’s overview, size, trends, growth factors, analysis, forecast, and competitive landscape.

Fish and Seafood Market Overview

Fish and seafood products have long been a staple in global diets due to their rich protein content, healthy fats, and essential nutrients such as omega-3 fatty acids. The fish and seafood market includes a wide variety of products, including fresh, frozen, canned, and processed seafood, which are available to consumers through supermarkets, seafood markets, restaurants, and online retailers.
The increasing demand for fish and seafood is being driven by both traditional markets and emerging economies. As consumers become more health-conscious, they are seeking seafood as a nutritious and sustainable alternative to red meats. Additionally, the growing popularity of sushi and other seafood-based cuisines has also spurred demand in international markets.

Fish and Seafood Market Size

In 2023, the fish and seafood market was valued at approximately USD 185 billion, and it is expected to grow significantly in the coming years. The market is projected to expand at a CAGR of 7.40% between 2025 and 2034, reaching a market value of around USD 400 billion by 2034.

Several factors contribute to the growing market size, including the increasing consumption of fish in both developed and developing nations, the rise in seafood exports, and the growing awareness of sustainable and responsibly sourced seafood. Additionally, technological advancements in fishing and aquaculture, along with the expansion of distribution channels, are facilitating broader market penetration.

Fish and Seafood Market Trends

Several key trends are shaping the fish and seafood market, which include:

Sustainability and Eco-Friendly Sourcing: With growing concerns about overfishing and environmental degradation, there is a strong push toward sustainable fishing practices. Consumers and businesses alike are increasingly prioritizing seafood that is responsibly sourced. Certifications such as the Marine Stewardship Council (MSC) are gaining importance, and many companies are adapting their sourcing strategies to meet these sustainability demands.

Increase in Plant-Based Alternatives: The demand for plant-based seafood alternatives has been growing, with many consumers turning to these products due to dietary preferences, health considerations, or environmental concerns. Brands are introducing plant-based fish fillets, seafood analogues, and other alternatives to cater to the rising vegetarian and vegan population.

Expansion of Processed Seafood Products: There is a growing demand for processed fish and seafood products, such as fish fillets, fish sticks, and seafood salads. These products offer convenience for consumers and are particularly popular in busy households, fast-food outlets, and the food service industry.

Shift Toward Frozen and Ready-to-Cook Products: Frozen seafood products are in high demand due to their longer shelf life, convenience, and retention of nutritional value. Ready-to-cook seafood products, which offer easy preparation, are also becoming increasingly popular among busy consumers.

Fish and Seafood Market Segmentation

Type
Molluscs
Crustaceans
Fishes
Others

Product
Fresh Fish and Seafood
Canned Fish and Seafood
Frozen Fish and Seafood
Other Fish and Seafood

Region
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa

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Fish and Seafood Market Growth

The fish and seafood market is experiencing significant growth across various regions due to several factors:

Rising Global Population: As the world population grows, so does the demand for food, including seafood. Increased urbanization and the growing middle-class population in developing economies are contributing to higher consumption rates of seafood.

Shift in Dietary Preferences: With the increasing awareness of the health benefits of seafood, consumers are shifting towards a protein-rich, low-fat diet. This dietary shift is helping drive the demand for seafood, particularly in health-conscious markets.

Technological Advancements: Innovations in seafood preservation and processing technologies, such as vacuum sealing, freezing, and high-pressure processing (HPP), are enhancing the shelf life and quality of seafood products, making them more accessible to consumers globally.

E-commerce Growth: The rise of online food delivery services and the increased adoption of e-commerce platforms for purchasing seafood is expanding the market. Consumers are increasingly purchasing seafood online due to the convenience and wider selection available.

Fish and Seafood Market Forecast

The fish and seafood market is forecast to experience robust growth over the next decade, with a projected CAGR of 7.40% from 2025 to 2034. This growth will be fueled by continued demand for healthy and sustainable food options, the expansion of aquaculture, and increased consumption in emerging markets.

Competitor Analysis

High Liner Foods Incorporated: Known for its wide range of frozen and processed seafood products, High Liner Foods is a leading global player in the market.

Leroy Seafood Group: Based in Norway, Leroy Seafood Group is a key player in sustainable seafood, focusing on salmon farming and processing.

Lyons Seafoods Co.: Lyons is a major supplier of frozen seafood products, catering to both retail and foodservice markets.

Maruha Nichiro Corporation: A Japanese company involved in seafood production, distribution, and processing, with a focus on sustainability.

Thai Union Group PCL: One of the largest seafood producers in the world, Thai Union is involved in tuna, shrimp, and other seafood products, with a strong focus on sustainability and innovation.

Others: Other significant players include Mowi ASA, Cargill Inc., and Dongwon Industries Co., all of which contribute to the global supply chain of seafood.