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Report Overview
The global fish and seafood market, valued at USD 407.22 Billion in 2024, has seen notable growth. Fish and seafood are excellent sources of lean protein, contributing to healthy diets. The market is forecasted to expand at a compound annual growth rate (CAGR) of 4.10% from 2025 to 2034, potentially reaching USD 608.61 Billion by 2034, driven by the increasing demand for sustainable and responsibly sourced seafood, innovations in aquaculture technologies, and the rising consumption of seafood in emerging markets.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
- As per the industry reports, in 2021-22, Australians consumed around 350,000 tonnes of seafood, equating to 13.8 kilograms per person. This high consumption rate indicates a strong demand for seafood, which supports both domestic markets and global trade.
- According to Federal Statistical Office, in 2021, Germany produced 18,300 tonnes of fish from approximately 2,200 aquaculture businesses. This sustainable production supports the local economy and the European seafood market, offering fresh, domestically sourced fish for consumption and export.
- As per Press Bureau of India, India is the third-largest fish-producing country, contributing 8% to global fish production. Additionally, India ranks second in aquaculture production, showcasing its importance in global seafood trade and providing substantial economic benefits to the country.
Compound Annual Growth Rate
Value in USD Billion
4.1%
2025-2034
Fish and Seafood Market Outlook
*this image is indicative*
Global Fish and Seafood Market Growth
Fish and seafood are excellent sources of lean protein, making them essential for a balanced diet. Rich in Omega-3 fatty acids, they promote heart health and reduce the risk of cardiovascular disease, driving the growth of the fish and seafood market. Sustainable farming methods contribute to environmental conservation, while the market plays a significant role in global employment. In May 2024, Seafish introduced the Seafood Carbon Emissions Profiling Tool to help businesses assess and reduce their carbon footprints. The online platform allows businesses to enter supply chain data, identify carbon hotspots, and advance towards net-zero targets, supported by the Fisheries and Seafood Scheme.
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The fish and seafood market provides a wide range of products, catering to diverse consumer preferences, including fresh and frozen choices. Omega-3s enhance brain health, improving memory and preventing cognitive decline. Fish and seafood are integral to many global culinary traditions, fostering cultural bonds. Additionally, global seafood trade supports economic growth, offering healthy, low-fat alternatives to red meat. With minimal saturated fat, seafood is a nutritious option.
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If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
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If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Key Trends and Recent Developments
The fish and seafood market are growing, fueled by trends like sustainable fishing practices, the rise of e-commerce and online seafood sales, increasing seafood exports, and the demand for premium and gourmet seafood.
Sustainable Fishing Practices is a Key Trend in the Fish and Seafood Market
The growing focus on sustainability is reshaping the global fish and seafood market. Many companies are adopting sustainable fishing and aquaculture methods to protect marine ecosystems, combat overfishing, and secure future supply. Certifications like the Marine Stewardship Council (MSC) are becoming increasingly vital, guiding consumers toward eco-friendly choices. In October 2024, MSC launched a global initiative to fast-track sustainability efforts in fisheries. Over 500 fisheries have already been certified under the MSC's stringent Fisheries Standard, recognised as the leading global certification for environmentally sustainable practices in fisheries.
E-commerce and Online Seafood Sales are Supporting the Fish and Seafood Market Revenue
The growing popularity of e-commerce is transforming the seafood market, making it easier for consumers to buy fresh, frozen, or processed seafood products online. Online platforms provide greater convenience, a wider range of choices, and direct delivery, meeting the evolving shopping preferences of consumers, particularly in urban areas. In April 2024, Rockfish introduced a "virtual fishmonger" at a family-owned motorway service on the M5 in Gloucestershire. This innovative touchscreen fish counter enabled shoppers to select seafood for next-day delivery, linking to the online market and highlighting the journey of the produce from sea to counter.
Increasing Seafood Exports Boosting Opportunities in the Fish and Seafood Market
The global seafood trade is growing, with more countries engaging in the export and import of various fish and seafood products. Developed markets in North America and Europe are increasingly relying on imports to meet demand. This expansion in international trade is driving market growth and contributing to the global availability of seafood. According to the Ministry of Commerce and Industry, frozen shrimp remained the leading export item, both in quantity and value, while the USA and China became the top importers of India's seafood. In FY 2023-24, exports increased by 2.67% in quantity. In 2022-23, India exported 17,35,286 MT of seafood worth ₹63,969.14 crore (USD 8,094.31 million).
Premium and Gourmet Seafood Fueling Growth of the Fish and Seafood Market
As disposable incomes rise, the demand for premium and gourmet seafood is increasing. Consumers are now willing to spend more on high-quality, exotic items like sustainably caught wild fish, luxury seafood (such as lobster and oysters), and innovative gourmet choices. This shift highlights a growing preference for quality over quantity. The Australian Bureau of Statistics (ABS) reported a 2.3% increase in retail trade from July 2023 to July 2024, totalling USD 36,160.1 million. This growth signals a higher demand for convenient products like canned fish and seafood, driven by stronger economic conditions and increased disposable income.
Global Fish and Seafood Market Trends
Seafood is a great option for weight management due to its high protein and low-calorie content. The market offers a wide range of products, including shellfish, crustaceans, and various types of fish, driving demand of the fish and seafood market. Local fisheries benefit from global demand, providing steady incomes for fishermen. Fish are also rich in antioxidants like selenium, which help combat oxidative stress. Sustainable aquaculture practices help maintain marine ecosystems and reduce overfishing. In 2022, production reached 2.33 million tonnes, a 4% increase compared to the previous year, representing nearly 18% of the national wild catch, according to the China Fishery Statistical Yearbook.
Seafood offers a protein-rich, allergy-friendly alternative for those with dairy or gluten sensitivities, influencing the fish and seafood market dynamics and trends. It plays a vital role in global food security by helping to feed the growing population. The sector also supports job creation across various industries, from fishing to distribution. Seafood can be cooked in healthier ways, such as grilling or steaming, promoting nutritious diets. Increasing eco-conscious consumer demand supports the conservation of marine habitats and species, ensuring the long-term sustainability of ocean ecosystems.
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Global Fish and Seafood Industry Segmentation
The EMR’s report titled “Global Fish and Seafood Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Molluscs
- Crustaceans
- Fishes
- Others
Market Breakup by Product
- Fresh Fish and Seafood
- Canned Fish and Seafood
- Frozen Fish and Seafood
- Other Fish and Seafood
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Fish and Seafood Market Share
According to fish and seafood market analysis, fresh fish and seafood offer vital nutrients such as protein, omega-3 fatty acids, vitamins, and minerals, promoting overall health. Consumed soon after being caught, they provide superior taste and texture, often considered healthier due to minimal processing. The U.S. commercial fishing industry landed 8.4 billion pounds of seafood worth USD 5.9 billion in 2022, as per the Fisheries of the United States report.
The growth of the fish and seafood market is driven by the convenience, long shelf life, and cost-effectiveness of canned fish and seafood. Rich in nutrients, they offer a quick source of protein and omega-3 fatty acids. These products are easily accessible, require no refrigeration, and are a practical choice for consumers looking for versatile, long-lasting seafood. In May 2024, Simak, an Omani seafood canning company, launched a new OMR 26 million (USD 67.5 million) cannery, further developing Oman’s seafood industry at Dukm port. Founded in 2019, Simak is part of a government initiative by Fisheries Development Oman to enhance the country’s seafood sector.
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Competitive Landscape
The fish and seafood market key players focus on sustainability, offering a broad selection of high-quality products, such as salmon, cod, and shellfish. These companies operate across the entire seafood value chain, including fish farming, processing, and distribution. They are committed to environmentally responsible practices, ensuring sustainable sourcing and high-quality standards. Known for innovation, they continuously develop new products and improve processes to meet the increasing global demand for seafood.
High Liner Foods Incorporated
Founded in 1899, High Liner Foods Incorporated is a leading North American food company headquartered in Lunenburg, Canada. Specialising in frozen seafood, the company provides a range of premium quality products to both retail and food service markets, with a strong focus on sustainability and innovation.
Leroy Seafood Group
Established in 1899, Leroy Seafood Group is one of the largest seafood companies in Norway, headquartered in Bergen. It focuses on sustainable seafood production, offering a variety of fish and seafood products. The company has a global presence, with an emphasis on high-quality, responsibly sourced products.
Lyons Seafoods Co.
Lyons Seafoods Co., founded in 1987, is a UK-based seafood company renowned for its high-quality frozen and chilled seafood products. Headquartered in London, it serves both retail and food service sectors, offering sustainable options and a diverse range of seafood, including fish fillets and ready meals.
Maruha Nichiro Corporation
Maruha Nichiro Corporation, established in 1918, is a Japanese multinational company headquartered in Tokyo. It is a major player in the global seafood industry, producing and distributing a variety of fish and seafood products. Maruha Nichiro focuses on sustainability and offers products across various sectors, including retail and food service.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the fish and seafood market report are Thai Union Group PCL, Trident Seafoods Corporation, Austevoll Seafood ASA, Pacific Seafood, Mowi ASA, and Tassal, among others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is assessed to grow at a CAGR of 4.10% between 2025 and 2034.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the market include the thriving food and beverage industry, rising disposable incomes, increasing population, rising health consciousness, and rapid urbanisation.
The increasing inclination towards seafood owing to the high nutrition content and rising demand for fish and seafood from Asia and the Americas are the key trends guiding the growth of the industry.
Molluscs, crustaceans, and fishes, among others are the major types of fish and seafoods included in the market.
Fresh fish and seafood, canned fish and seafood, and frozen fish and seafood, among other fish and seafood are the different products included in the market.
The major players in the industry are High Liner Foods Incorporated, Leroy Seafood Group, Lyons Seafoods Co., Maruha Nichiro Corporation, Thai Union Group PCL, Trident Seafoods Corporation, Austevoll Seafood ASA, Pacific Seafood, Mowi ASA, Tassal, Others.
In 2024, the fish and seafood market reached an approximate value of USD 407.22 Billion.
The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 608.61 Billion by 2034.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Product |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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