Seafood Market Size was estimated at 172.9 (USD Billion) in 2023. The Seafood Market Industry is expected to grow from 177.69(USD Billion) in 2024 to 240 (USD Billion) by 2035. The Seafood Market CAGR (growth rate) is expected to be around 2.77% during the forecast period (2025 - 2035).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
A number of noteworthy changes are now affecting the global seafood market, reflecting shifting consumer preferences and environmental concerns. One of the main factors driving the market is the growing demand for sustainable seafood as customers get more conscious of overfishing and the need for ethical sourcing methods. Businesses are being prompted by this change to embrace sustainable fishing methods and pursue certifications that will appeal to customers who care about the environment. Supply chain traceability has also grown in importance as technology is used to guarantee openness and foster consumer confidence. Innovative aquaculture techniques and the rising demand for plant-based seafood substitutes are two market opportunities worth investigating. The creation of wholesome and sustainable plant-based seafood choices offers a hopeful path forward as more people switch to flexitarian diets. Another possibility is the growth of e-commerce in the seafood industry, which gives customers access to a greater range of goods straight from producers, improving convenience and supporting regional fisheries. More value-added seafood goods, such as prepared meals and snacks, are being consumed more often these days. Busy shoppers searching for convenient and healthful meal alternatives may find these goods appealing. Additionally, there is a discernible trend toward localized sourcing, whereby buyers choose seafood that is fished nearby, therefore promoting local economies and guaranteeing freshness. Concerns about sustainability, shifting customer preferences, and the possibility of technology breakthroughs are all driving changes in the global seafood market. Stakeholders may better match their plans with the tastes and expectations of contemporary customers by concentrating on these trends.
Increasing Global Population and Demand for Seafood
The Global Seafood Market Industry is experiencing significant growth driven by the increasing global population, which is projected to reach approximately 9.7 billion by 2050, according to the United Nations. This growth will inevitably drive demand for protein-rich food sources like seafood, particularly as traditional meat sources face sustainability challenges. The Food and Agriculture Organization (FAO) mentions that seafood contributes about 17% of the global population's protein intake, which is crucial for health and nutrition.With a greater awareness of health benefits linked to seafood consumption, including omega-3 fatty acids and low saturated fats, more people are turning to seafood as a healthier alternative. This trend is illustrated by ongoing initiatives from organizations like the Marine Stewardship Council promoting sustainable fishing practices to support this demand. In regions where population growth is most pronounced, such as Asia, the consumption of seafood is forecasted to increase significantly, thus bolstering the Global Seafood Market Industry.
Rising Health Consciousness Among Consumers
Consumer trends are shifting towards healthier dietary options, significantly impacting the Global Seafood Market Industry. In recent studies conducted by various health organizations, it is reported that the consumption of seafood is accompanied by numerous health benefits, including reduced risks of chronic diseases and improved cardiovascular health. As more consumers are educated on the nutritional advantages of seafood, including its rich source of vitamins and minerals, there is an observable increase in seafood consumption globally.For instance, the American Heart Association advocates for eating fish at least twice a week to benefit from omega-3 fatty acids. This shift towards health-conscious eating is expected to drive market growth, particularly in countries with developed economies where health awareness campaigns are more prevalent.
The Global Seafood Market Industry is also witnessing growth through advancements in aquaculture, which has become a vital sector in food production. Reports from the FAO indicate that aquaculture alone accounted for over 50% of the global seafood production in recent years, highlighting its crucial role in market expansion. With a focus on sustainable practices, organizations worldwide are implementing new technologies to improve aquaculture efficiency and yield.Various governments, including Norway, are investing heavily in Research and Development (R) for sustainable fish farming practices, aiming to meet the growing seafood demand without depleting natural fish stocks. This trend not only supports job creation but also ensures the continued availability of seafood, thus promoting the expansion of the Global Seafood Market Industry.
Innovations in Seafood Processing and Supply Chain
The Global Seafood Market Industry is benefiting from significant innovations in processing technologies and supply chain management. As consumers become more demanding regarding the freshness and traceability of seafood products, companies have started investing in advanced processing technologies. A notable example is the use of blockchain technology, which improves transparency and allows consumers to trace the origin of seafood products, enhancing purchase confidence.Additionally, organizations such as the Seafood Export Authority have been focusing on improving logistics to minimize wastage during transportation and ensure fresh delivery to markets. These advancements help meet consumer expectations and are projected to drive the Global Seafood Market Industry further as businesses align with sustainability practices.
The Global Seafood Market is witnessing substantial growth in various product types, encapsulating Fish, Shellfish, Caviar, and Seaweed. As of 2024, the market is valued at 177.69 USD Billion, showcasing its expansive scope and potential for development. Fish remains the most dominant product type within the market, with a valuation of 81.0 USD Billion in 2024. It is crucial due to its widespread consumption and nutritional benefits, which include high protein and omega-3 fatty acids, appealing to health-conscious consumers globally. Shellfish followed with a valuation of 50.0 USD Billion in the same year, reflecting its popularity in gourmet cuisine and its diverse culinary applications, ranging from shrimp to lobsters that cater to affluent markets.Caviar, while smaller at a valuation of 12.0 USD Billion, holds significant prestige and demand, particularly in luxury dining, making it a valuable niche segment that attracts gourmet interest. Seaweed, with a valuation of 34.69 USD Billion, is gaining momentum, particularly in health food trends and sustainable practices, reflecting shifts towards plant-based diets among consumers seeking marine plant products rich in vitamins and minerals. The Global Seafood Market segmentation provides valuable insights into consumer preferences and dietary choices, showing a clear trend toward diverse seafood consumption.The growth patterns among these product types highlight market dynamics driven by changing dietary lifestyles and expanding culinary globalization, where fish stands out by holding the majority share. Despite shifting trends and economic challenges, the weight of these product types in the market signifies their importance, enabling diverse offerings that meet consumer demands across different regions. Expanding interest in sustainable seafood sources further enhances the opportunities within the seaweed segment, positioning it favorably in future market analyses.Overall, the contributions of each product type reflect a balanced ecosystem within the Global Seafood Market, driven by both traditional and modern culinary explorations.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Global Seafood Market is poised for growth, with significant dynamics observed within its Distribution Channel segment. By 2024, this market was valued at 177.69 USD Billion, showcasing a diverse range of channels, including Supermarkets, Online Retail, Fish Markets, and Food Service. Supermarkets play a vital role as traditional channels where consumers frequently purchase seafood, while Online Retail is gaining traction, driven by increasing consumer preference for convenience and home delivery options. Fish Markets maintain their importance, particularly in regional and local markets where fresh selections attract consumers looking for quality and variety.The Food Service sector, including restaurants and catering services, also serves as a dominant force, relying on seafood for a diverse array of dishes, thus driving demand. As consumers become more health-conscious, the emphasis on sustainable and traceable seafood products is increasingly shaping the landscape. Furthermore, technological advancements in e-commerce are enhancing the Online Retail segment's competitiveness, underscoring the evolution within the Global Seafood Market segmentation. Strong trends in sustainability and health awareness continue to shape consumer choices across these channels, influencing the overall market growth.
The Global Seafood Market is prominently segmented by Form, which includes Fresh, Frozen, Canned, and Processed seafood products. By 2024, the overall Global Seafood Market revenue was valued at 177.69 USD Billion, reflecting a significant demand across various forms of seafood. Fresh seafood continues to dominate due to its appeal to health-conscious consumers seeking nutritious options, while frozen seafood has gained traction for its convenience and longer shelf life. Canned seafood remains a staple in many households due to its affordability and accessibility, contributing positively to Global Seafood Market Statistics.Processed seafood is also crucial as it caters to evolving consumer preferences for ready-to-eat meals, thereby capturing a significant market share. Factors driving growth in this segment include increasing awareness of the health benefits of seafood and rising global populations. However, challenges such as sustainability concerns and fluctuating supply levels pose threats to market stability. Overall, the segmentation of the Global Seafood Market into these Forms reveals diverse opportunities aligned with consumer trends and preferences, establishing a robust framework for growth in the coming years.
The Global Seafood Market revenue is poised for growth, with a significant emphasis on the End Use segment, which serves as a crucial determinant of overall market dynamics. In 2024, the market is projected to reach 177.69 billion USD, reflecting the increasing demand across various applications. The Household segment is noteworthy, as it continues to drive consistent consumption patterns owing to rising health consciousness and dietary preferences favoring seafood. The Commercial segment holds a considerable market share, fueled by the growing restaurant and food service industries that prioritize fresh and diverse seafood offerings.Simultaneously, the Food Processing segment is gaining traction, supported by innovations in convenience food products and value-added seafood items, aligning with consumer trends towards ready-to-cook and prepared meals. The Global Seafood Market segmentation displays a diverse landscape where factors like sustainability, quality, and sourcing practices increasingly influence purchasing decisions. Overall, the convergence of health trends, culinary innovation, and demographic shifts presents ample growth opportunities for all End Use categories, affirming their vital role in shaping the future of the Global Seafood Market industry.
The Global Seafood Market represents a substantial revenue opportunity, with North America leading the charge, valued at 46.5 USD Billion in 2024 and projected to reach 63.0 USD Billion by 2035. This region's focus on sustainability and the growing demand for healthy protein sources drive its market prominence. Europe follows closely, with a valuation of 40.0 USD Billion in 2024, expected to grow to 52.0 USD Billion by 2035, benefiting from an established seafood culture and regulatory support for fishing practices. The APAC region dominates the Global Seafood Market with a projected value of 60.0 USD Billion in 2024, progressing to 85.0 USD Billion by 2035, largely fueled by a rising population and increased seafood consumption in countries like China and India.Meanwhile, South America and the Middle East and Africa (MEA) represent smaller segments, valued at 20.0 USD Billion and 11.19 USD Billion in 2024, respectively. However, these regions are witnessing growth opportunities through aquaculture advancements and rising demand for diverse seafood options. Each region brings unique dynamics to the Global Seafood Market statistics, emphasizing the diverse applications and consumption patterns worldwide.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Seafood Market Key Players and Competitive Insights:
The Global Seafood Market has experienced significant growth over recent years, driven by the rising demand for protein-rich diets and health-conscious consumer trends. Competitive dynamics in this market are shaped by factors such as sustainability practices, technological advancements in fishing and aquaculture, and evolving consumer preferences for diverse seafood products. Major players are constantly engaged in strategic initiatives that enhance their market positioning, such as mergers and acquisitions, product innovation, and expanding distribution networks. This industry is characterized by a mix of large multinational companies as well as small-scale fisheries and aquaculture operations, creating a complex competitive landscape. Companies are challenged to adhere to stringent regulatory requirements while also responding to consumer demands for sustainability and ethical sourcing.Thai Union Group has solidified its presence as a dominant player in the Global Seafood Market through a strong focus on innovation, sustainability, and product diversification. The company has effectively leveraged its extensive supply chain capabilities, allowing it to deliver a wide range of seafood products that cater to various consumer preferences worldwide. Their commitment to responsible fishing practices has earned Thai Union Group a competitive edge, making it easier for the company to form partnerships with retailers and food service operators. The brand is recognized globally for its high-quality products, including canned seafood and frozen fish, allowing it to excel in both retail and food service channels. By emphasizing sustainability and employing advanced technologies in processing, Thai Union Group is well-positioned to adapt to the evolving marketplace and consumer demands.Nissui has established a significant foothold in the Global Seafood Market by focusing on high-quality products and a diverse portfolio that includes frozen seafood, processed fish products, and value-added ready-to-eat meals. The company has built a robust market presence through strategic acquisitions and partnerships that enhance its distribution capabilities internationally. Nissui’s strengths lie in its commitment to sustainability and innovation, ensuring its offerings are in line with consumer trends for healthy and sustainable food options. The company emphasizes the importance of responsible sourcing and quality control throughout its supply chain, which enhances its reputation among global consumers and partners. With key products that cater to various markets, Nissui continues to strengthen its competitive stance while actively exploring opportunities for mergers and acquisitions to broaden its reach within the Global Seafood Market.
Seafood Market Industry Developments
Recent developments in the Global Seafood Market include notable growth and changes in major industry players. Thai Union Group and Mowi ASA have been focusing on sustainability initiatives, impacting their market positions positively. Nissui is expanding its product range to cater to the rising demand for healthy seafood options. Bumble Bee Foods is actively addressing supply chain challenges exacerbated by the pandemic, while the Seafood Harvesters of America is advocating for better regulations in fisheries management. In terms of mergers and acquisitions, Dongwon Industries completed the acquisition of a significant stake in a U.S.-based seafood company in February 2023, which has enhanced its footprint in the North American market. Additionally, Maruha Nichiro reported a strategic acquisition aimed at increasing its operational efficiencies in March 2023. The market valuation of major seafood companies has experienced a rise, driven by increased consumer demand for seafood, sustainability trends, and innovation in aquaculture practices. This growth reflects a shift towards healthier diets and environmental responsibility within the industry. Overall, the Global Seafood Market is undergoing transformation, with key players adapting to meet evolving consumer preferences while striving for sustainability and efficiency.
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 172.9(USD Billion) |
| MARKET SIZE 2024 | 177.69(USD Billion) |
| MARKET SIZE 2035 | 240.0(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 2.77% (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 | Thai Union Group, Nissui, Mowi ASA, Bumble Bee Foods, Seafood Harvesters of America, _open seas, Maruha Nichiro, Highland Fisheries, Trident Seafoods, Dongwon Industries, Japan Fisheries Co, Columbia River Packers Association, Pacific Seafood, Marine Harvest |
| SEGMENTS COVERED | Product Type, Distribution Channel, Form, End Use, Regional |
| KEY MARKET OPPORTUNITIES | Sustainable seafood sourcing, E-commerce expansion for seafood, Innovative seafood processing techniques, Plant-based seafood alternatives, Health-conscious consumer demand |
| KEY MARKET DYNAMICS | rising health consciousness, sustainability concerns, fluctuating fish prices, increasing aquaculture production, expanding seafood distribution channels |
| COUNTRIES COVERED | North America, Europe, APAC, South America, MEA |
Seafood Market Highlights:
Frequently Asked Questions (FAQ) :
The Global Seafood Market is expected to be valued at approximately 177.69 billion USD in 2024.
By 2035, the Global Seafood Market is expected to reach a valuation of about 240.0 billion USD.
The Global Seafood Market is expected to have a CAGR of 2.77% from 2025 to 2035.
In 2024, North America is expected to dominate the Global Seafood Market with a value of 46.5 billion USD.
The APAC region is projected to have a market size of 60.0 billion USD in 2024.
Major players in the Global Seafood Market include Thai Union Group, Nissui, and Mowi ASA.
The Fish segment within the Global Seafood Market is expected to be valued at 110.0 billion USD in 2035.
The Shellfish segment of the Global Seafood Market is projected to be valued at 65.0 billion USD by 2035.
The Seaweed segment of the Global Seafood Market is estimated to be valued at 34.69 billion USD in 2024.
The MEA region is projected to reach a market value of approximately 12.0 billion USD by 2035.
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Research Analyst Level II I have a degree in engineering (civil), with masters in business administration (marketing). with more than 4 years of experience in market research and consulting, i am involved in end-to-end process of market research, proposals, project kickoffs and delivery. i have research knowledge and expertise in consumer goods/packaging domain. also i have worked for various other domains like construction & equipment. effectively managed and delivered more than 60 report studies for regional as well as global clientele.
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