Fish and Seafood Market Size, Share, Trends & Growth 2025-2034

The fish and seafood market, valued at USD 407.22 billion in 2024, has been experiencing significant growth due to the increasing demand for nutritious food sources like fish and seafood. Fish and seafood are not only delicious but are also considered excellent sources of lean protein, omega-3 fatty acids, and essential nutrients that contribute to healthy diets. With the rise in health-conscious eating habits and growing consumer interest in sustainable seafood sourcing, the market is projected to expand at a compound annual growth rate (CAGR) of 4.10% from 2025 to 2034, potentially reaching USD 608.61 billion by 2034. In this blog, we’ll dive into the fish and seafood market’s overview, size, trends, growth, and forecasts, along with competitor analysis.

Fish and Seafood Market Overview

The fish and seafood market encompasses a wide variety of products, including fish, shellfish, and crustaceans. These products are consumed globally, playing a significant role in the diets of millions of people. With rising awareness about the health benefits of seafood, such as heart health and improved cognitive function, the demand for fish and seafood products is accelerating. Additionally, consumers are increasingly leaning towards sustainably sourced seafood, boosting the market’s expansion.

The market is heavily influenced by advancements in aquaculture technologies, which enable more efficient fish farming and reduce the environmental impact associated with overfishing. As a result, the market has become more resilient and capable of meeting the rising demand for seafood in emerging markets.

Fish and Seafood Market Size

In 2024, the global fish and seafood market is valued at USD 407.22 billion. This value reflects the strong consumer demand for fish and seafood products across various regions, driven by their nutritional value, versatility, and culinary appeal. The market is experiencing an uptick in both developed and emerging economies, fueled by a growing awareness of the health benefits associated with seafood.

The size of the market is also influenced by the growing focus on sustainable seafood sourcing. Innovations in aquaculture, better supply chain management, and a reduction in seafood waste are further contributing to market growth. The seafood trade and export business continue to flourish, particularly in regions where seafood consumption is integral to traditional diets.

Fish and Seafood Market Trends

Several key trends are shaping the fish and seafood market:

Sustainability and Responsible Sourcing: One of the most significant trends in the seafood industry is the increasing consumer demand for sustainably sourced fish and seafood. Certifications such as MSC (Marine Stewardship Council) and ASC (Aquaculture Stewardship Council) have gained popularity, with more consumers and businesses opting for eco-friendly, responsibly sourced seafood.

Growth in Aquaculture Technologies: Innovations in aquaculture technologies are helping to meet the rising global demand for fish without putting too much strain on natural fish populations. Technologies like Recirculating Aquaculture Systems (RAS) and offshore fish farming are revolutionizing the industry, making it more sustainable and efficient.

Plant-Based and Alternative Seafood Products: The rising popularity of plant-based and alternative seafood products is another growing trend. With more consumers adopting vegetarian and vegan lifestyles, companies are producing plant-based seafood alternatives that mimic the taste and texture of traditional seafood.

Rising Demand for Frozen and Ready-to-Eat Seafood: There is an increasing demand for frozen and ready-to-eat seafood products, driven by busy lifestyles and the convenience factor. This trend is particularly prominent in developed countries where consumers are looking for quick and easy meal solutions.

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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

Fish and Seafood Market Growth

The fish and seafood market has experienced steady growth over the past decade and is expected to continue expanding due to the rising demand for seafood products. The market’s growth is driven by several factors:

Health Consciousness: As more consumers prioritize health and nutrition, seafood is increasingly viewed as a source of lean protein and essential nutrients. This shift in consumer behavior is contributing to the growth of the market.

Increased Seafood Exports: With seafood being a global commodity, exports from major seafood-producing countries like China, Thailand, and Norway are on the rise. The demand for high-quality seafood products from international markets is fueling market growth.

Sustainability Initiatives: Governments and organizations are emphasizing sustainability in seafood production, which has created more efficient and eco-friendly farming practices. This, in turn, supports the long-term growth of the market.

Technological Innovations: The introduction of new aquaculture technologies and the improvement of supply chain logistics have significantly reduced production costs and made seafood products more accessible to consumers around the world. These advancements will contribute to market expansion in the coming years.

Fish and Seafood Market Analysis

The fish and seafood market analysis reveals that the industry is not only benefiting from global population growth and rising incomes but is also undergoing significant changes due to technological advancements, sustainability efforts, and shifts in consumer preferences. Additionally, climate change and the depletion of wild fish stocks have increased the importance of sustainable practices in seafood production.

The supply chain for fish and seafood is becoming more integrated, with advancements in cold storage, packaging, and transportation helping to preserve the quality of seafood products and extend their shelf life. These improvements make it easier to meet consumer demand, even in regions where seafood consumption was historically lower.

Furthermore, as plant-based seafood alternatives gain popularity, traditional seafood producers are exploring new ways to innovate and diversify their product offerings. This includes launching new products that appeal to flexitarians and environmentally-conscious consumers, further expanding market reach.

Fish and Seafood Market Forecast

The global fish and seafood market is expected to grow at a compound annual growth rate (CAGR) of 4.10% from 2025 to 2034, reaching an estimated market value of USD 608.61 billion by 2034. This forecast is driven by the factors outlined above, including rising consumer demand for seafood, advancements in sustainable production methods, and the expansion of seafood consumption in emerging markets.

The market’s growth will be particularly strong in regions such as Asia-Pacific, where growing urbanization and disposable income are driving demand for high-quality, affordable seafood products. Additionally, increasing awareness about the environmental impact of overfishing and unsustainable practices will encourage continued innovation in aquaculture technologies and sustainable sourcing.

Competitor Analysis

The fish and seafood market is highly competitive, with several key players leading the industry. Major competitors include:

High Liner Foods Incorporated: A leading North American seafood supplier, High Liner Foods offers a range of frozen and value-added seafood products, including fish fillets, shrimp, and shellfish.

Leroy Seafood Group: Based in Norway, Leroy Seafood Group is one of the largest seafood companies in Europe, with a strong focus on sustainable fishing and aquaculture practices.

Lyons Seafoods Co.: Known for its wide range of frozen and chilled seafood products, Lyons Seafoods is a key player in the European market, offering a variety of fish and shellfish to consumers worldwide.

Maruha Nichiro Corporation: A Japanese seafood giant, Maruha Nichiro Corporation has a diverse portfolio of seafood products, including fresh, frozen, and canned options, and a strong focus on sustainability.

Thai Union Group PCL: One of the largest seafood producers in the world, Thai Union Group is a leader in seafood processing and distribution, with a focus on innovation and sustainability in the industry.

Trident Seafoods Corporation: Based in the United States, Trident Seafoods is a major producer of wild-caught seafood, offering a wide range of frozen and value-added products.

Austevoll Seafood ASA: This Norwegian company is one of the leading players in the global seafood market, with a strong portfolio in both wild-caught and farmed fish products.

Others:  These competitors are focusing on increasing their market share by expanding their product portfolios, improving sustainability practices, and innovating through technology.