Fresh Fish and Seafood Market Analysis, Size, and Forecast 2024-2028: North America (US and Canada), Europe (France, Germany, Italy, and UK), Middle East and Africa (Egypt, KSA, Oman, and UAE), APAC (China, India, and Japan), South America (Argentina and Brazil), and Rest of World (ROW)

Fresh Fish and Seafood Market Size 2024-2028

The fresh fish and seafood market size is forecast to increase by USD 65.06 billion, at a CAGR of 3.95% between 2023 and 2028.

• The market is witnessing significant growth, driven by the increasing awareness of the health benefits associated with seafood consumption. This trend is particularly noticeable among health-conscious consumers, who are seeking to incorporate more nutrient-rich foods into their diets. Another key driver in the market is the rising demand for premiumization of seafood. Seafood is rich in essential nutrients such as protein, omega-3 fatty acids, and vitamins, making it a preferred choice for health-conscious consumers. Consumers are willing to pay a premium for high-quality, sustainably sourced seafood, creating opportunities for suppliers and retailers to differentiate themselves through product offerings and value-added services. However, the market also faces challenges. Stringent government regulations and guidelines, aimed at ensuring the safety and sustainability of seafood production, can increase operational costs and complexify supply chains.
• Additionally, the impact of climate change on fish stocks and fishing practices can create supply disruptions and price volatility. Companies seeking to capitalize on market opportunities and navigate these challenges effectively must stay informed of regulatory developments, invest in sustainable sourcing and production practices, and build resilient supply chains. By doing so, they can meet the growing demand for premium seafood while maintaining compliance with regulatory requirements and mitigating risks.

What will be the Size of the Fresh Fish and Seafood Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, driven by dynamic market forces and shifting consumer preferences. Value-added seafood products, such as smoked or marinated offerings, are gaining traction as consumers seek more convenient and flavorful options. Fish handling techniques are advancing, with a focus on maintaining fish health and ensuring seafood quality. Aquaculture disease management and water quality are critical concerns for farmers, while fish processing byproducts and waste utilization are being explored for sustainable applications. Responsible aquaculture practices are increasingly important, with a focus on reducing environmental impact and improving animal welfare. Seafood preservation methods are evolving to extend shelf life and maintain product freshness.

Seafood market segmentation is becoming more nuanced, with differentiated offerings catering to various consumer demographics and preferences. Seafood packaging innovations are transforming the industry, with a focus on extending shelf life, enhancing product presentation, and improving sustainability. Consumer seafood preferences are shifting towards more sustainable and ethically sourced options, driving demand for traceability systems and certifications. Seafood sensory evaluation and safety regulations are essential for ensuring product quality and consumer safety. Fish farming automation and processing technology are advancing, with a focus on increasing efficiency and reducing waste. The ongoing unfolding of market activities and evolving patterns underscores the importance of continuous innovation and adaptation in the fresh fish and seafood industry.

How is this Fresh Fish and Seafood Industry segmented?

The fresh fish and seafood industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type
  • Fresh fish
  • Crustaceans
  • Mollusks
• Distribution Channel
  • Offline
  • Online
• Source
  • Wild-Caught
  • Aquaculture
• Form
  • Whole
  • Filleted
  • Fresh Prepared
• Geography
  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • Italy
    • UK
  • Middle East and Africa
    • Egypt
    • KSA
    • Oman
    • UAE
  • APAC
    • China
    • India
    • Japan
  • South America
    • Argentina
    • Brazil
  • Rest of World (ROW)

By Type Insights

The fresh fish segment is estimated to witness significant growth during the forecast period.

The market is witnessing significant growth due to the increasing adoption of fresh fish as a healthy protein source. With people becoming more health-conscious and aware of the nutritional benefits of fish, such as omega-3 fatty acids and vitamins D and B2 (riboflavin), the demand for fresh fish is surging. These essential nutrients contribute to heart and brain health, making fish a preferred choice for consumers. Sustainable fisheries management practices ensure a steady supply of fresh fish while minimizing the impact on marine ecosystems. Value-added seafood products, such as smoked or marinated fish, cater to evolving consumer preferences.

Aquaculture, with responsible practices and disease management, is a key contributor to the market's growth. Seafood preservation methods, like freezing and canning, extend the shelf life and accessibility of fish. Seafood market segmentation based on consumer demographics, geography, and product types continues to evolve. Innovations in seafood packaging, such as vacuum-sealed and modified atmosphere packaging, maintain the freshness and quality of the product. Fish handling techniques and fish farming automation improve the efficiency and safety of the production process. Fish health monitoring and quality control are crucial aspects of ensuring a consistent and safe product. By-products from fish processing are utilized for various applications, including fish meal and fish oil.

Aquaculture farming practices, including feed efficiency and water quality management, are essential for sustainable growth. Seafood product traceability systems and sensory evaluation ensure transparency and trust in the market. Regulations and certifications, such as those for seafood safety and wild-caught seafood, provide consumers with peace of mind. The seafood retail and distribution networks continue to adapt to changing consumer demands and preferences. Bycatch reduction strategies and sustainable seafood sourcing are crucial for the long-term sustainability of the industry.

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The Fresh fish segment was valued at USD 199.00 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 50% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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In the Asia Pacific (APAC) region, which is the world's largest producer of fresh fish and seafood, China holds the leading position as both the largest producer and consumer of fishery products, accounting for approximately 45% of the global seafood volume. The growing young, sophisticated, and affluent population base in APAC countries, particularly in China, Japan, South Korea, Taiwan, India, and Southeast Asian nations, is driving the demand for a wide variety of fresh fish and seafood. Key species in high demand include fresh shrimp and prawns, as well as fresh skipjack and stripe-bellied bonito tuna fillets in Japan. Aquaculture, responsible farming practices, and sustainable fisheries management are essential to meeting the increasing demand for seafood in APAC.

Aquaculture disease management and water quality are crucial to maintaining healthy fish stocks. Seafood preservation methods, such as freezing and canning, ensure product freshness and longevity. Innovations in seafood packaging and traceability systems help maintain product quality and consumer confidence. Seafood safety regulations and fish farming automation are essential to ensuring a consistent supply of high-quality seafood. Fish processing technology and byproduct utilization contribute to increased efficiency and reduced waste. Consumer preferences for specific seafood species and sensory evaluation play a significant role in market segmentation. Traceability systems and certification programs, such as those for wild-caught seafood and sustainable seafood sourcing, are essential to meeting consumer demands for transparency and accountability.

Market dynamics in APAC are shaped by various factors, including ocean fishing regulations, bycatch reduction strategies, and sustainable seafood sourcing. Aquaculture feed efficiency and responsible practices are critical to ensuring the long-term sustainability of the industry. Seafood retail management and distribution networks play a vital role in getting products to consumers efficiently and effectively.

Market Dynamics

The Global Fresh Fish and Seafood Market is thriving, driven by ever-evolving fresh fish market trends and growing consumer awareness. The demand for both fresh fish and fresh seafood continues to surge, with a particular emphasis on sustainable fresh fish options as consumers prioritize ethical sourcing. Efficient seafood cold chain logistics are paramount to maintaining quality from catch to plate, supporting rising consumer preferences fresh seafood. The market is also being significantly shaped by e-commerce fresh seafood platforms, offering convenient access to premium options like organic fresh seafood. Advances in aquaculture technologies are playing a crucial role in meeting this demand sustainably. Furthermore, the widely recognized health benefits of fresh fish, including omega-3 rich varieties like fresh salmon and fresh shrimp, are key market drivers. Innovations in seafood traceability technology are building consumer trust. The overall Global fresh fish and seafood market size reflects strong rising demand for fresh seafood, fueling new product development seafood and robust retail sales fresh seafood.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of Fresh Fish and Seafood Industry?

• The significant rise in public understanding of the nutritional advantages associated with seafood consumption serves as the primary catalyst for market growth.

• The global fishmeal and fish oil market is experiencing steady growth, with production forecasted to reach 5.8 Mt for fishmeal and 1.2 Mt for fish oil by 2030. This expansion is driven by sustainable fisheries management and the increasing demand for value-added seafood products. However, the growth rate has decelerated compared to the previous decade, with an annual increase of only 0.9% for fishmeal and 0.8% for fish oil. Fish handling techniques and aquaculture disease management are crucial aspects of the industry, ensuring the preservation of seafood quality and consumer safety. Responsible aquaculture practices are increasingly important, as they contribute to the sustainability of the industry and mitigate environmental concerns.
• Despite the growth in fishmeal and fish oil production, global food fish consumption is projected to grow at a slower pace, with an annual increase of only 1.3%. Factors contributing to this trend include population growth slowing down, lower meat prices, particularly for poultry, and decreased incomes at the beginning of the decade. Market segmentation plays a significant role in the seafood industry, with various factors influencing consumer preferences and demand. Understanding these trends and implementing effective strategies can help businesses remain competitive and thrive in this dynamic market.

What are the market trends shaping the Fresh Fish and Seafood Industry?

• The trend in the seafood market is shifting towards an increased demand for premium quality offerings. This developing market trend underscores the growing consumer preference for higher-end seafood products.

• The market is experiencing significant growth due to increasing consumer preferences for high-quality, unique seafood offerings. Premiumization is a key trend, with consumers willing to pay more for products perceived as superior in freshness, flavor, and sustainability. This trend encompasses demand for premium cuts, exotic species, and seafood with specific certifications. Seafood packaging innovations play a crucial role in maintaining the freshness and quality of these products. Fish traceability systems ensure transparency and authenticity, while seafood sensory evaluation helps maintain consistent quality.
• Seafood safety regulations are stringent, and fish farming automation and fish processing technology are essential for meeting these standards. Ocean Beauty Seafoods LLC, a leading seafood distributor, exemplifies this trend. They source and distribute high-quality seafood from various global locations, focusing on transparency and sustainability. Their offerings include wild-caught Alaskan salmon and other premium selections, reflecting the market's shift towards superior seafood experiences.

What challenges does the Fresh Fish and Seafood Industry face during its growth?

• The stringent government regulations and guidelines pose a significant challenge to the industry's growth, requiring businesses to adhere to rigorous compliance standards.

• In The market, companies face rigorous regulations from authorities such as the European Union and the US Food and Drug Administration (FDA), requiring strict adherence to permits, entry regulations, and product expiry dates. For instance, fresh fish should be consumed within 36 hours of purchase and stored in a refrigerator. Compliance with these rules can be challenging for new market entrants. To ensure seafood product quality, companies prioritize fish health monitoring, seafood quality control, and fish processing byproducts utilization. Aquaculture farming practices are also crucial in maintaining fish health and reducing waste. Furthermore, fish waste can be effectively utilized as a resource, contributing to sustainable practices in the industry.
• Seafood product traceability is essential to build consumer trust and confidence. companies invest in advanced technologies, such as blockchain, to provide transparent information about the origin, production, and distribution of their seafood products. By focusing on these areas, companies can differentiate themselves in the competitive market and meet the evolving demands of consumers.

Exclusive Customer Landscape

The fresh fish and seafood market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the fresh fish and seafood market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, fresh fish and seafood market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

All Seas Wholesale Inc. - This company specializes in providing a diverse selection of fresh fish and seafood, including salmon, halibut, rockfish, seallops, live crab, lobster, and oysters. Their offerings cater to various consumer preferences and culinary applications. The seafood is sourced responsibly, ensuring the highest quality and sustainability.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• All Seas Wholesale Inc.
• Austevoll Seafood ASA
• Charoen Pokphand Foods PCL
• Clearwater Seafoods Inc.
• Cooke Aquaculture Inc.
• Grieg Seafood ASA
• Lee Fish
• Lee Fishing Co.
• Loch Duart Ltd.
• Marubeni Corp.
• Maruha Nichiro Corp.
• Meade Digital Enterprises Corp.
• Nissui Corp.
• Ocean Beauty Seafoods LLC
• Ocean Fresh Seafood
• Pescafresh
• Surapon Foods Public Co. Ltd.
• Trident Seafoods Corp.
• Tropic Star Seafood Inc.
• True World Foods LLC
• Wm Morrison Supermarkets Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Fresh Fish And Seafood Market

• In January 2024, Marine Harvest, a leading global seafood company, announced the launch of its new sustainable salmon farming project in Chile, investing USD 500 million to expand its production capacity by 60,000 metric tons annually (Marine Harvest Press Release, 2024).
• In March 2024, Thai Union Group, the world's largest seafood processor, entered into a strategic partnership with BlueBite, a US-based technology company, to implement RFID technology in their supply chain, enhancing traceability and sustainability (Thai Union Press Release, 2024).
• In May 2024, the European Union approved the Merger of Two Seas, a leading European fish processing company, and Nordic Fish, significantly expanding their market share in the European fresh fish market (European Commission Press Release, 2024).
• In February 2025, the Chinese government announced a new policy to encourage the development of aquaculture and fishery industries, investing USD 15 billion in the sector and aiming to increase production by 15% by 2027 (Xinhua News Agency, 2025).

Research Analyst Overview

• The market experiences continuous fluctuations in price due to various factors, including microbial contamination, consumer behavior, and seafood fraud detection. Catch monitoring technology and fish farming economics play significant roles in mitigating price volatility, while aquaculture genetic improvement and production methods contribute to increased supply. Fish freshness indicators, seafood allergen control, and sensory attributes are crucial for maintaining consumer trust. Aquaculture environmental impact, logistics optimization, and inventory management are essential for reducing waste and ensuring efficient operations. Fish farming sustainability, storage temperature, and pest control are key concerns for producers, while seafood labeling accuracy and e-commerce platforms facilitate transparency and convenience for businesses.
• Fish species identification and nutritional composition are vital for product differentiation and catering to diverse consumer preferences. Seafood spoilage mechanisms and waste treatment are ongoing challenges for the industry, necessitating ongoing research and innovation.

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Fresh Fish and Seafood Market insights. See full methodology.

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What are the Key Data Covered in this Fresh Fish and Seafood Market Research and Growth Report?

• CAGR of the Fresh Fish and Seafood industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across APAC, Europe, North America, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the fresh fish and seafood market growth of industry companies

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