Fish and Seafood Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

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.

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.

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.

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.

October 2024

The Fish Welfare Initiative (FWI), in collaboration with NALSAR Animal Law Centre, has launched a project to introduce pre-slaughter stunning for farmed fish in India. The first phase includes an open request for proposals (RFP) to research the implementation of these practices, aiming to improve fish welfare in India’s aquaculture.

October 2024

Singapore's Umami Bioworks, focused on commercialising cultivated fish products, launched a pathogen detection tool for the seafood industry. The startup introduced Arbiter, a biotech tool designed to tackle seafood safety and quality issues. This launch marked a significant expansion of its biotech offerings, extending beyond cultivated meat and pet food.

October 2024

FCO launched Marina, a smart reusable IFCO Fish Crate, in collaboration with the fishing industry. The crate features Bluetooth Low Energy tags and QR codes for real-time data collection, enhancing cold chain management and improving efficiency and sustainability in the fresh fish and seafood supply chain from ship to sale.

May 2024

The Namibia Ocean Cluster, launched on 26 April 2024, aims to maximise the utilisation of Namibia's seafood. Supported by the World Economic Forum’s Ocean Action Agenda, it brings together the fishing sector and stakeholders to address post-harvest seafood loss, aligning with UN FAO’s SDG target to reduce waste by 2030.

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 8.09 billion).

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 36.16 billion. 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.

Global Fish and Seafood Industry Segmentation

The Expert Market Research'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.

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.

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.