Australia Fish Market Report and Forecast 2024-2032

Australia Fish Market Outlook

The Australia fish market size is projected to grow at a CAGR of 2.98% between 2024 and 2032.

Key Takeaways:

• According to SIA, consumption of seafood in Australia reached 356,000 tonnes, equivalent to 13.9 Kilograms per person, during 2020-2021.

• As per Marine Stewardship Council (MSC), the average household consumption of canned tuna in Australia is 36 cans per year.

• As per the Department of Agriculture, Fisheries, and Forestry, Australia’s aquaculture sector GVP marked a growth of 13%, in 2021-2022.

Australia fish market growth is driven by evolving consumer preferences and growing awareness about the health benefits of eating fish

Australia's fish market is booming, fuelled by several trends reflecting changing consumer tastes and priorities. First, consumers are increasingly aware of the health benefits of eating fish. This growing knowledge has significantly boosted the market. On top of that, consumers are recognizing the value of fish rich in omega-3 fatty acids and other essential nutrients.

As per the Australian Bureau of Agricultural and Resource Economics (ABARES), over the past twenty years, salmon has become a major player in Australian fisheries and aquaculture, making up 37% of production in 2023-24. While global salmon production is increasing, driving down prices, Australia's production is expected to see moderate growth in the coming years. This is likely to make up for any decline in the value of other important seafood products, like rock lobster and abalone, which are facing lower prices.

Further, aquaculture's importance in seafood production is expected to keep growing. By 2028-29, it's expected that aquaculture will account for 64% of the total seafood production value, up from 60% in 2023-24. In real terms, the value of aquaculture is expected to reach USD 2.21 billion by 2028-29.

Market Segmentation

Australia Fish Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Freshwater Fish

• Marine Water Fish

Market Breakup by Product

• Fresh

• Canned

• Frozen

Market Breakup by Distribution Channel

• Offline

• Online

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Australian Capital Territory

• Western Australia

• Others

The Australia fish market key players are Australia Bay Seafoods Pty Ltd., MainStream Aquaculture Group (Infinity Blue), Austral Fisheries Pty Ltd., Austop Fisheries, Australian Longline Fishing, Brown Dog Fishing Co., Trepang Fisheries, and Stehr Group, among others.

Key Highlights of the Report