Europe Seafood Market Size was estimated at 36.4 (USD Billion) in 2023. The Industry is expected to grow from 36.83(USD Billion) in 2024 to 48.09 (USD Billion) by 2035. The CAGR (growth rate) is expected to be around 2.454% during the forecast period (2025 - 2035).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Seafood Market Key Trends Highlighted
In Europe, the seafood market is experiencing significant trends driven by consumer preferences and sustainability concerns. A key market driver is the increasing demand for healthy and nutritious food options, where seafood is recognized for its benefits, including high protein content and omega-3 fatty acids. As consumers become more health-conscious, there is a noticeable shift towards fresh, organic, and sustainably sourced seafood. The European Union has implemented strict regulations on fishing practices, promoting sustainable fish stocks, which enhances the credibility and appeal of European seafood. Opportunities exist in the growth of plant-based seafood alternatives as well, responding to rising vegetarian and vegan trends among Europe's diverse population.This change creates opportunities for innovation in the market, which in turn attracts a broader consumer base that is interested in reducing their environmental impact. In addition, convenience and ready-to-eat options are becoming increasingly popular, particularly among urban residents who prioritize healthy meal alternatives that are both fast and convenient. The source of seafood has been the subject of a significant increase in transparency in recent years, as a growing number of consumers are interested in the origin of their sustenance. Products sold in marketplaces throughout Europe are increasingly requiring traceability and eco-labeling. In addition, the influence of digital technology is significant, as online seafood sales are on the rise due to the ease of access that e-commerce platforms offer consumers to a diverse selection of seafood products. Consequently, the Europe seafood market is adapting to these trends, which are indicative of evolving societal values and preferences. Consequently, it is dynamic and responsive to both the challenges and opportunities in the food industry.
Europe Seafood Market Drivers
Increasing Health Consciousness Among Consumers
There has been a notable rise in health consciousness among Europeans, leading to an increased demand for seafood as a protein source rich in omega-3 fatty acids and low in saturated fats. The European Food Safety Authority reports that seafood consumption can significantly reduce the risk of heart disease, with studies showing that individuals who consume fish at least twice a week can lower their chances of cardiovascular diseases by 30%. This trend is further supported by various health organizations advocating for more sustainable seafood in diets, reflecting a shift towards healthier eating habits.The rise of health-oriented campaigns and dietary guidelines from government bodies across Europe encourages consumers to include seafood in their diets, which directly boosts the Industry. Such dietary changes, especially in countries like Sweden and Norway, have contributed to an annual increase in seafood consumption by approximately 2.5 kilograms per person since 2018.
Sustainability and Eco-Friendly Practices
The emphasis on sustainability has greatly influenced the . The European Union has enacted numerous policies promoting sustainable fishing practices, leading to a 45% reduction in overfishing since 2013. Certifications like Marine Stewardship Council and Aquaculture Stewardship Council have also gained traction among consumers. In the last few years, reports indicate that about 60% of European consumers are willing to pay more for sustainably sourced seafood.This is evidenced by the increase in the market for certified seafood, which grew by over 15% in 2020 alone. The promotion of sustainable fishing aligns with the European Commission's Farm to Fork Strategy that, emphasizes the importance of sustainability in food systems, positively impacting the growth of the Industry.
Growing Popularity of Plant-Based Seafood Alternatives
There is a growing trend towards plant-based diets in Europe, with a significant increase in demand for seafood alternatives made from plant proteins. A market analysis indicated that sales of plant-based seafood products have surged by over 50% between 2019 and 2021, reflecting a shift in consumer preferences towards vegetarian and vegan diets. The European Vegetarian Union has reported that 6% of the population adopted a vegetarian diet in 2022, which has directly influenced the market for plant-based seafood products.Companies like Nestle and Unilever are investing in innovative product development to capture this emerging market segment, making substantial contributions to the overall growth of the Industry. This trend presents both a challenge and an opportunity for traditional seafood producers as they adapt to the changing consumer landscape.
Europe Seafood Market Segment Insights
Seafood Market Seafood Type Insights
The Europe Seafood Market Type segment within the plays a critical role in shaping the region's overall seafood consumption patterns and preferences. As the market environment continues to evolve, various categories such as Cephalopods, Shellfish, Mollusks, Level Fish, Groundfish, Salmonids, Fish, and Pelagic are demonstrating distinct importance based on market demands and regional consumption habits. Cephalopods, including squid and octopus, have gained traction due to their unique taste profiles, versatility, and nutritional benefits, making them a favored choice in Mediterranean and coastal cuisines. Meanwhile, Shellfish, known for their high protein content and essential nutrients, capture significant consumer attention, particularly in countries with rich maritime traditions, such as France and Spain. Mollusks, which include oysters and clams, have established a luxurious appeal among seafood enthusiasts and remain popular for their flavor and ecological benefits when harvested sustainably. Additionally, Level Fish varieties contribute to the market's richness, providing consumers with options that cater to varying culinary preferences and dietary needs. Groundfish, particularly species prevalent in the North Sea, also hold market relevance due to their availability and sustainability efforts to manage fishing practices effectively. Salmonids, including salmon and trout, continue to dominate the European market due to their high omega-3 fatty acid content, health benefits, and versatile culinary applications, making them a staple in many households. Fish, as a broader category, serves as a vital source of protein across numerous cultures in Europe, promoting a balanced diet among consumers. Finally, Pelagic species, such as mackerel and sardines, are gaining recognition due to their abundance, environmental sustainability, and economic advantage. As these Seafood Type categories evolve, market trends indicate a shift towards more sustainable sourcing practices, with consumers increasingly prioritizing quality and environmental responsibility in their seafood choices. This segmentation reflects the growing importance of not only satisfying consumer tastes but also aligning with broader ecological and health trends within the industry.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Seafood Market Seafood Retail Insights
The Europe Seafood Market Retail segment within the plays a crucial role in meeting the growing consumer demand for high-quality seafood products. As health consciousness continues to rise among European consumers, the preference for fresh and nutritious food options is driving the popularity of seafood. Notably, the Surrounding segment has seen increasing interest due to the focus on sustainability and traceability, appealing to environmentally aware consumers. Frozen seafood remains significant, primarily due to its convenience and longer shelf life, making it a staple in households across Europe.The Chilled segment benefits from the increasing availability of fresh seafood within retail outlets, catering to consumers wanting minimally processed options. Additionally, government initiatives aimed at promoting seafood consumption highlight the nutritional benefits of seafood, further fueling the growth in this segment. The is characterized by diverse consumption patterns and increasing innovations aimed at improving quality and availability, demonstrating a positive trajectory for the Seafood Retail segment. Overall, the market fosters a competitive atmosphere that encourages retailers to offer a range of products that meet varying consumer preferences.
Seafood Market Seafood Distribution Channel Insights
The Europe Seafood Market Distribution Channel in the encompasses various pathways through which seafood products reach consumers. This segment is vital to the market's growth, providing access to quality seafood through diverse channels, including Retail, Foodservice, and Institutional avenues. Retail outlets play a crucial role by offering convenience and a wide variety of seafood products, catering to the growing consumer demand for fresh and sustainable options. Foodservice channels represent a significant share, supplying seafood to restaurants and catering services, which highlights the trend of increasing seafood consumption in dining establishments.Institutional sales serve sectors such as schools, hospitals, and other organizations, reflecting a rising awareness of the nutritional benefits of seafood and its incorporation into meal planning. The European market is characterized by stringent regulations and quality standards, ensuring the safety and sustainability of seafood products. This not only fosters consumer trust but also drives the demand for transparency in sourcing, which is increasingly important in the modern marketplace. The significant contribution of these distribution channels to the overall dynamics of the illustrates their importance in shaping industry trends and addressing evolving consumer preferences.
Key Players and Competitive Insights
The Europe Seafood Market is characterized by intense competition, driven by a growing consumer demand for high-quality, sustainable seafood products. With increasing health consciousness among consumers, the market has witnessed a shift toward fish and seafood as preferred sources of protein. Rising awareness regarding the health benefits of seafood, along with a shift towards more innovative and convenient product offerings, has prompted seafood companies to enhance their supply chain and production processes. The market dynamic is shaped by fluctuations in supply due to environmental factors, regulatory frameworks, and sustainability concerns, prompting companies to adapt their strategies accordingly. The competitive landscape is populated by a mixture of large multinational players and smaller niche brands, each striving to distinguish themselves through quality, sustainability, and value-added products, making the a vibrant and evolving sector.Young's Seafood holds a prominent position in the , recognized for its strong brand identity and commitment to sustainability. The company is particularly noted for its wide range of frozen and chilled seafood products, which cater to diverse consumer preferences while maintaining high quality standards. Young's Seafood has effectively capitalized on the increasing demand for convenient meal solutions, offering ready-to-cook options that align with contemporary cooking trends. Its strong distribution network across various European countries, both through retail and food service channels, enhances market reach and strengthens customer loyalty. Furthermore, Young's Seafood emphasizes responsible fishing practices, reinforcing its brand ethos and responding to the growing consumer demand for environmentally sustainable products. This commitment to sustainability has positioned the company favorably within the competitive landscape, allowing it to maintain its relevance amidst a shifting marketplace.Austevoll Seafood also plays a significant role within the , known for its vertically integrated operations that encompass fishing, processing, and distribution. The company offers a diverse range of seafood products, including pelagic fish, which are increasingly popular among European consumers for their health benefits and culinary versatility. Austevoll Seafood has established a substantial market presence, supported by strategic acquisitions that have expanded its capacity and product portfolio. Its commitment to high-quality seafood and sustainable fishing practices fortifies its competitive edge, enabling it to cater to both the retail and food service industries effectively. The company's focus on innovation, particularly in product development and processing technology, further enhances its ability to meet evolving consumer demands. Austevoll Seafood's position as a responsible player in the seafood sector is bolstered by its active engagement in sustainability initiatives and compliance with regulatory standards, which resonate with the growing consumer emphasis on ethical sourcing.
Europe Seafood Market Key Companies in the Include
Europe Seafood Market Industry Developments
The has witnessed significant developments recently. In September 2023, Young's Seafood announced a new sustainability initiative aimed at reducing carbon footprints in collaboration with local fisheries. Austevoll Seafood reported a 15% growth in revenue for the second quarter of 2023, largely attributed to increasing demand in retail sectors. Mowi is focusing on digital transformation to enhance production efficiency, indicating a shift towards advanced technologies in aquaculture. In terms of mergers and acquisitions, in August 2023, Danish Crown acquired a controlling stake in a seafood processing company based in Northern Europe, strengthening its position in the market. Icelandic Group also expanded its operations by acquiring a minority stake in a tech firm specializing in seafood logistics in July 2023. Market valuation for several companies, including Connolly's REDMILLS and Skretting, has been boosted by growing consumer demand for sustainable seafood, showcasing an increase in ethical sourcing practices. The ongoing trends indicate a strong push towards innovation and sustainability in the , reflecting changing consumer preferences over the past two years, especially in areas concerning traceability and environmental impact.
Europe Seafood Market Segmentation Insights
Seafood Market Seafood Type Outlook
Seafood Market Seafood Retail Outlook
Seafood Market Seafood Distribution Channel Outlook
| Report Attribute/Metric Source | Details |
| MARKET SIZE 2018 | 36.4(USD Billion) |
| MARKET SIZE 2024 | 36.83(USD Billion) |
| MARKET SIZE 2035 | 48.09(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 2.454% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | Young's Seafood, Austevoll Seafood, Mowi, Danish Crown, Icelandic Group, Connolly's REDMILLS, Skretting, Marine Harvest, Donnelly Seafoods, Findus, Seafood Company, Clarion Seafoods, Groupe Roullier |
| SEGMENTS COVERED | Seafood Type, Seafood Retail, Seafood Distribution Channel |
| KEY MARKET OPPORTUNITIES | Sustainable seafood sourcing, Increased demand for plant-based alternatives, Growth in online seafood retail, Expansion of organic seafood products, Rise in health-conscious consumer choices |
| KEY MARKET DYNAMICS | sustainability trends, increasing health consciousness, rising demand for convenience, regulatory changes, supply chain challenges |
| COUNTRIES COVERED | Germany, UK, France, Russia, Italy, Spain, Rest of Europe |
Frequently Asked Questions (FAQ) :
The Europe Seafood Market is expected to be valued at 36.83 USD Billion in 2024.
The market is projected to reach a value of 48.09 USD Billion by 2035.
The market is expected to grow at a CAGR of 2.454 percent during the period from 2025 to 2035.
Level Fish holds the largest market value at 10.1 USD Billion in 2024.
The market value of Shellfish is projected to be 11.7 USD Billion in 2035.
Key players include Young's Seafood, Austevoll Seafood, Mowi, and Danish Crown.
The market size for Mollusks is expected to be valued at 4.3 USD Billion in 2024.
The Groundfish market is anticipated to reach 10.59 USD Billion by 2035.
Emerging trends and increasing consumer demand for sustainable seafood present significant growth opportunities.
The market dynamics are influenced by supply chain challenges and fluctuating prices due to global conflicts.
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