Commercial Fishing Market Research Report By Fishing Gear Type (Trawls, Dredges, Gillnets and Trammel Nets, Seine Nets, Hook and Line Gear, Traps and Pots), By Species (Wild-caught fish, Farmed fish, Shellfish, Crustaceans, Cephalopods), By Vessel Type (Commercial fishing vessels, Recreational fishing vessels, Charter fishing vessels, Subsistence fishing vessels), By End-User (Foodservice industry, Retail sector, Seafood processors, Direct consumers, Industrial applications) and By Regional (North America, Europe, South America, Asia-Pacifi

Global Commercial Fishing Market Overview

Commercial Fishing Market Size was estimated at 176.34 (USD Billion) in 2022. The Commercial Fishing Market Industry is expected to grow from 180.29(USD Billion) in 2023 to 220.0 (USD Billion) by 2032. The Commercial Fishing Market CAGR (growth rate) is expected to be around 2.24% during the forecast period (2024 - 2032).

Key Commercial Fishing Market Trends Highlighted

Innovative technologies and advanced fishing gear are shaping the Commercial Fishing Market, enhancing efficiency and sustainability. Vessel tracking systems and sonar technology optimize vessel operations and reduce bycatch, while precision fishing techniques minimize environmental impact. The rise of aquaculture and mariculture presents significant opportunities for market expansion, driven by increasing global demand for seafood. Heightened consumer awareness and regulatory frameworks are influencing market trends. Consumers prioritize seafood sustainability, traceability and ethical practices. Governments implement regulations to manage fisheries, conserve marine ecosystems and promote responsible fishing. The integration of blockchain technology enhances seafood supply chain transparency, ensuring product authenticity and minimizing fraud. Additionally, the market witnesses the adoption of eco-friendly practices. Sustainable fishing methods, such as selective fishing, reduced fishing intensity, and marine protected areas, aim to preserve fish stocks and protect marine habitats. The growing demand for alternative protein sources, including plant-based seafood, poses both opportunities and challenges for the commercial fishing industry.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Commercial Fishing Market Drivers

Rising Global Demand for Seafood

Global demand for seafood products is expected to increase steadily in the next years. This will happen because of both the growing human population and the changing human eating habits and lifestyles, including urbanization and increased use of seafood products. The demand for commercial fishing will have to meet such a growing demand on the part of individuals in this industry sector; this will lead to noticeable growth in the Commercial Fishing Market Industry over the next few years.It is expected to grow due to a number of factors, including increasing human income and population.

Technological Advancements in Fishing Techniques

The superior efficacy of modern fishing gear can be demonstrated in the example of longlining, which was first developed in the 1940s and has become a common practice for targeting various fish species. Use of sonar and GPS systems allows commercial fishing boats to locate a site rich with the particular type of fish, deploy several miles of fishing lines with hundreds or thousands of hooks attached and wait for the fish to take the bait. The use of longlines and modern technology in this practice involves significantly less effort than other methods of catching fish, making it one of the most common methods used in the industry.

Government Regulations and Sustainability Concerns

The current industry that has been affected by government regulations and concerns about sustainability is the Commercial Fishing Market Industry. This industry is affected because, through government regulations, it is the source that sustains cool marine fish populations in the ocean. The current regulations are both measures and conservation measures for a period of time to ensure that the fish is not overexploited. This includes setting quotas over which the fish cannot be exploited, the period of the year when the fish cannot be commercially harvested, and the type of gear allowed for fishing.The final concern arises from the general awareness of the sustainability and the future of the product.

Commercial Fishing Market Segment Insights

Commercial Fishing Market Fishing Gear Type Insights

The Commercial Fishing Market is segmented on the basis of fishing gear type and region. On the basis of fishing gear type, the market is segmented into trawls, dredges, gillnets and trammel nets, seine nets, hook and line gear, and traps and pots. Among these segments, trawls accounted for the largest market share last year. Trawls are a type of gear used in the fishing industry. Trawls are large nets that are towed behind a boat. They are used to catch fish that live near the bottom of the ocean. This is why trawls are used to catch flatfish such as cod, haddock and plaice.They are also used to catch shellfish. However, the term trawls is usually used to refer to nets that are used to catch shrimp and prawns. Dredges are similar to trawls. They are used to catch shellfish which live on the bottom of the ocean. These include clams, oysters and scallops. Gillnets and trammel nets are vertical nets. They are used to catch fish which swim in mid-water. These include salmon, tuna and mackerel. Seine nets are large nets. They are used to catch fish. These tend to be small, bony fish. Examples include herring, sardines and anchovies.Hook and line gear is used to catch fish that are attracted to the bait. The most famous hook and line fisherman fish for marlin and swordfish.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Commercial Fishing Market Species Insights

Wild-caught fish Dominated the market, and the segment is expected to continue its dominance during the forecast period. The growth of the segment is attributed to increasing demand for sustainable seafood. Farmed fish are another significant segment, that is expected to grow at a steady rate from 2023 to 2032. The popularity of aquaculture is the main reason for the growth of the segment. Outlook and Highlights: Shellfish, Crustaceans, and Cephalopods are also vital species in the commercial fishing market. These species are popular due to their high taste and nutrition content.

Commercial Fishing Market Vessel Type Insights

The Commercial Fishing Market is segmented by Vessel Type into Commercial fishing vessels, Recreational fishing vessels, Charter fishing vessels, and Subsistence fishing vessels. Commercial fishing vessels are expected to account for the largest market share, valued at around USD 150 billion in 2024, due to the increasing demand for seafood and the growing popularity of commercial fishing as a source of income. Recreational fishing vessels are expected to witness a steady growth rate, driven by the rising popularity of recreational fishing activities and the increasing number of participants.Charter fishing vessels are projected to experience moderate growth as they provide a convenient and cost-effective option for anglers to enjoy fishing experiences. Subsistence fishing vessels are expected to remain a niche market, primarily serving local communities and contributing to food security.

Commercial Fishing Market End-User Insights

The end-user segment of the Commercial Fishing Market comprises the food service industry, retail sector, seafood processors, direct consumers and industrial applications. The food service industry is the largest end-user, accounting for over 40% of the market share. The retail sector is the second largest with a share of over 30%. Seafood processors, direct consumers and industrial applications account for the remaining share.

The market growth is driven by the increasing demand for seafood, rising population, and growing disposable income. The Asia-Pacific region is expected to be the fastest-growing market due to the increasing demand for seafood in China and India.

Commercial Fishing Market Regional Insights

The regional segmentation of the Commercial Fishing Market exhibits distinct market dynamics and growth patterns. North America, Europe, and APAC collectively account for a significant share of the global market revenue. North America holds a prominent position with a market share of around 34.2% in 2023, driven by advanced fishing technologies, sustainable practices, and high seafood consumption. Europe follows closely with a market share of approximately 31.5%, benefiting from well-established fishing industries and a growing demand for high-value seafood products.APAC, with a market share of 26.1% in 2023, is projected to witness steady growth due to increasing seafood consumption and aquaculture production in countries like China, India, and Indonesia. South America and MEA collectively contribute a smaller share to the overall market, but they present opportunities for growth, particularly in aquaculture and value-added seafood products.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Commercial Fishing Market Key Players And Competitive Insights

Major players in the Commercial Fishing Market industry, such as Leading Commercial Fishing Market players. The commercial fishing market's competitive landscape is highly fragmented, with a large number of small- and medium-sized players. There are, however, a few major players that dominate the market, such as Cooke Aquaculture, Mowi, and Thai Union Group. These companies have a strong global presence and a wide range of products and services. They are also investing heavily in research and development to develop new and innovative products.Cooke Aquaculture is one of the leading players in the Commercial Fishing Market. Cooke Aquaculture is a global leader in the production of Atlantic salmon and other seafood products. The company has a strong presence in North America, Europe, and Chile. Cooke Aquaculture is committed to sustainability and responsible fishing practices. The company has a number of initiatives in place to reduce its environmental impact, such as using eco-friendly feed and farming methods.Another major player in the Commercial Fishing Market is Mowi. Mowi is the world's largest producer of farmed salmon. The company has a strong presence in Norway, Scotland, Canada, and Chile. Mowi is committed to producing high-quality salmon in a sustainable manner. The company has a number of initiatives in place to reduce its environmental impact, such as using renewable energy and reducing its carbon footprint.

Key Companies in the Commercial Fishing Market Include

• Maruha Nichiro


• StarKist


• Pacific Andes International Holdings


• The Blackstone Group


• Bumble Bee Foods


• High Liner Foods


• Princes Group


• Austevoll Seafood


• The Carlyle Group


• Nova Austral


• Pescanova


• Thai Union Group


• Korea Fishery


• Cargill


• Nissui Group

Commercial Fishing Market Industry Developments

The Commercial Fishing Market is projected to reach USD 220.0 billion by 2032, exhibiting a CAGR of 2.24% during the forecast period (2024-2032). Growing demand for seafood, rising population, and increasing urbanization are key factors driving market growth.Recent industry developments include: Technological advancements: Advanced technologies such as GPS, sonar, and satellite imagery are enhancing fishing efficiency and sustainability. Sustainable practices: Governments and organizations are implementing regulations and promoting responsible fishing practices to protect marine ecosystems. E-commerce expansion: Online platforms are facilitating the sale and distribution of seafood, providing convenience and wider market reach. Aquaculture growth: The expansion of aquaculture, or fish farming, is supplementing wild-caught seafood production and meeting growing demand. Expansion into new markets: Commercial fishing companies are exploring new fishing grounds and markets to diversify their operations and increase revenue.

Commercial Fishing Market Segmentation Insights

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  Commercial Fishing Market Fishing Gear Type Outlook

  
  
  
  
  • Trawls
  
  
  • Dredges
  
  
  • Gillnets and Trammel Nets
  
  
  • Seine Nets
  
  
  • Hook and Line Gear
  
  
  • Traps and Pots
  
  
  
  

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  Commercial Fishing Market Species Outlook

  
  
  
  
  • Wild-caught fish
  
  
  • Farmed fish
  
  
  • Shellfish
  
  
  • Crustaceans
  
  
  • Cephalopods
  
  
  
  

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  Commercial Fishing Market Vessel Type Outlook

  
  
  
  
  • Commercial fishing vessels
  
  
  • Recreational fishing vessels
  
  
  • Charter fishing vessels
  
  
  • Subsistence fishing vessels
  
  
  
  

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  Commercial Fishing Market End-User Outlook

  
  
  
  
  • Foodservice industry
  
  
  • Retail sector
  
  
  • Seafood processors
  
  
  • Direct consumers
  
  
  • Industrial applications
  
  
  
  

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  Commercial Fishing Market Regional Outlook

  
  
  
  
  • North America
  
  
  • Europe
  
  
  • South America
  
  
  • Asia Pacific
  
  
  • Middle East and Africa