Fisheries have come up against intense trading conditions. Trade tensions with China depressed lobster exports, with rock lobster providers turning to other regions like Hong Kong to stay afloat. Government-imposed quotas have restricted the overall volume of seafood caught over recent years, with the goal of long-term sustainable fish populations. Overall, fishing revenue is expected to weaken at an annualised 7.3% over the five years through 2024-25, to $1.4 billion. This trend includes an anticipated dip of 7.8% in 2024-25 as sales of domestic fish and other seafood trend downwards amid higher prices, inflationary pressures on stores and stretched consumer budgets. Demand for Australian fish and seafood produce in export markets has historically supported local fisheries. In particular, consumers in several Asian countries like China, Japan and Hong Kong have been purchasing more Australian-caught fish and seafood thanks to its reputation for high quality. However, as aquaculture grows and more farms achieve economies of scale, many downstream buyers have turned to alternative seafood suppliers. Concerns about overfishing continue to spur tighter restrictions on the volume of fish that fisheries catch. Many younger consumers are also pursuing alternative diets, opting for less expensive meats or healthier vegetarian and vegan diets. The Australia-United Kingdom free trade agreement will spur seafood sales to British markets. Meanwhile, relaxed restrictions from China as trade tensions ease are expected to support export revenue. Overall fishing revenue is projected to edge downwards at an annualised 1.0% through the end of 2029-30 to $1.3 billion.

The fishing industry's performance underscores a shift towards sustainability, primarily driven by eco-conscious consumers and stringent regulatory standards. Businesses that prioritize environmentally responsible practices are finding favor in the market, as they align with a growing demand for transparency and certified eco-friendly products. Economic turbulence, particularly soaring input costs and rising trade tensions, has put considerable pressure on fishers' revenue, compounded by logistical obstacles across supply chains. The fishing industry's revenue has declined by a CAGR of 3.5% over the last five years with $5.9 billion in 2024. In response, fishers have invested in fuel-efficient technologies and value-added products to entice a market hungry for unique and convenient culinary experiences. Initially buoyed by a surge in post-pandemic demand, fishers soon faced supply chain disruptions and inflationary pressures. These challenges ballooned the cost of operations, especially with oil and gas prices driving up fuel expenses. The popularity of alternative proteins, such as plant-based and poultry products, has spurred price competition for seafood and further squeezed revenue potential. Advanced data analytics and automated systems have helped fishers optimize operations, minimize waste and slow the descent of their income. In 2024, industry revenue only dipped by 0.5% with stable profit projected through the outlook period. Looking to the next five years, the fishing industry is set to face a complex global trade landscape and increasingly unpredictable weather patterns, complicating operational efficiency. A weakening US dollar will boost export competitiveness by making domestic goods more affordable, yet increased trade tensions pose risks with potential tariffs and abruptly disrupted market access. As severe weather events become more frequent, fishers need to adopt more resilient strategies, such as diversifying fishing locations and reinforcing infrastructure. Technological integration in pinpointing abundant fishing areas and efficient onboard processing will help maintain competitiveness, drive sustainable practices and manage costs. These adaptations will ensure the industry's stability and growth, forecast to be 0.5% CAGR growth over the next five years with $6.1 billion in revenue in 2019.

Market Size statistics on the Fishing industry in the US

Number of Businesses statistics on the Fishing industry in United States

Number of Businesses statistics on the Fishing Boat Charter industry in United States

Europe's seafood processing and preserving industry has struggled to navigate the rough economic waters of inflation and changing consumer preferences over the last five years. Recently, inflation has bolstered fish prices significantly, which, paired with dwindling disposable income, has led many consumers to look toward alternatives to their usual seafood choices. Still, this climate has stimulated innovation in cost-effective processing and conservation methods. Sustainability has become a major catchword, with seafood consumers increasingly fishing for eco-friendly products. Revenue is projected to shrink at a compound annual rate of 5.6% over the five years through 2024, with an estimated slump of 5.3% in 2024 to reach €44.4 billion. Over recent years, an emphasis on sustainable practices has shaped the industry. Companies have been more transparent and responsible in their sourcing, catering to modern consumers who want eco-friendly options. In an economically volatile environment, tinned fish has arisen to offer seafood lovers convenience, sustainability and low prices. Technology has also begun encroaching on seafood processing, with automation increasingly taking on tedious tasks, cutting labour costs and boosting profit and efficiency across the board. Looking ahead, recovering economies will support seafood processing across Europe as it continues to adapt to shifting preferences and innovative technologies. Despite some resistance due to entrenched cultural traditions, plant-based seafood alternatives are expected to make bigger splashes in Spain and Italy. As the global appetite for quality European seafood swells, processors will expand their horizons to new international markets. In tumultuous times, focusing on these export markets will help stabilise revenues and offset the ups and downs of local markets. Over the five years through 2029, revenue is projected to swell at a compound annual rate of 0.5% to reach an estimated €45.5 billion.

The US fish and seafood wholesale industry has undergone considerable changes in recent years, influenced by shifting consumer preferences, technological advancements, and global market dynamics. As an essential intermediary between seafood producers and retailers, wholesalers have faced increasing pressure to adapt to emerging trends. Despite these challenges, the industry remains a stable contributor to the US economy, though its growth has slowed because of market saturation. Still, industry-wide revenue has grown at a CAGR of 0.9% due to surging seafood prices over the past five years. It's expected to total $23.9 billion in 2025, when revenue will drop an estimated 0.9% and profit will shrink to 2.3% of revenue. Over the past five years, the industry has navigated a complex landscape marked by rising demand for sustainable practices, the emergence of alternative seafood products, and heightened competition from global imports. Sustainability has evolved from a niche interest to a widespread expectation, propelled by consumer demand and stricter regulatory standards. Also, technological advancements in traceability and supply chain management have become essential for maintaining product quality and compliance. However, expanding plant-based and lab-grown seafood has introduced a disruptive challenge, forcing traditional wholesalers to innovate or risk losing market share. Globalization has added another layer of complexity, with fluctuating trade policies and tariffs contributing to market volatility. Looking forward, the industry is set to encounter both challenges and opportunities. The emphasis on sustainability will strengthen, making eco-certifications and transparent supply chains industry norms. Technological innovations, particularly in automation and real-time tracking, will continue to improve efficiency but may also create higher entry barriers for smaller companies. The increasing popularity of alternative seafood will compel traditional wholesalers to diversify their offerings to stay competitive. Moreover, the industry must adeptly navigate an increasingly globalized market, balancing the risks and benefits of expanded international trade. Industry revenue is forecast to expand at a CAGR of 1.1% through the end of 2030 to total $25.2 billion.

Europe's seafood processing and preserving industry has struggled to navigate the rough economic waters of inflation and changing consumer preferences over the last five years. Recently, inflation has bolstered fish prices significantly, which, paired with dwindling disposable income, has led many consumers to look toward alternatives to their usual seafood choices. Still, this climate has stimulated innovation in cost-effective processing and conservation methods. Sustainability has become a major catchword, with seafood consumers increasingly fishing for eco-friendly products. Revenue is projected to shrink at a compound annual rate of 5.6% over the five years through 2024, with an estimated slump of 5.3% in 2024 to reach €44.4 billion. Over recent years, an emphasis on sustainable practices has shaped the industry. Companies have been more transparent and responsible in their sourcing, catering to modern consumers who want eco-friendly options. In an economically volatile environment, tinned fish has arisen to offer seafood lovers convenience, sustainability and low prices. Technology has also begun encroaching on seafood processing, with automation increasingly taking on tedious tasks, cutting labour costs and boosting profit and efficiency across the board. Looking ahead, recovering economies will support seafood processing across Europe as it continues to adapt to shifting preferences and innovative technologies. Despite some resistance due to entrenched cultural traditions, plant-based seafood alternatives are expected to make bigger splashes in Spain and Italy. As the global appetite for quality European seafood swells, processors will expand their horizons to new international markets. In tumultuous times, focusing on these export markets will help stabilise revenues and offset the ups and downs of local markets. Over the five years through 2029, revenue is projected to swell at a compound annual rate of 0.5% to reach an estimated €45.5 billion.

Employment statistics on the Marine Fishing industry in the UK

Seafood producers have been navigating unsteady economic conditions, reflected in heightened revenue volatility. As the pandemic hit, seafood prices began to climb. Producers initially struggled to reach end buyers, as distribution channels endured disruptions and food service markets shrunk. The easing of pandemic-related restrictions resulted in a short-lived spike in sales, as consumer demand for seafood surged and producers used the opportunity to pass on mounting seafood prices. In the pandemic's wake, seafood consumption eased but prices remained high, putting producers in a difficult position. Revenue has been shrinking at a CAGR of 0.6% over the past five years and is expected to reach $15.7 billion in 2025 when it will drop 0.3%. Competition between domestic seafood producers and imported brands is fierce. Producers often sell the same or similar products, competing based on price. Imports from regions with far lower labor costs than the US can easily out-compete domestic producers based on price and offer buyers a variety of seafood unavailable outside their region. In recent years, even as seafood consumption slumped, the value of imports surged, capturing a growing share of domestic demand. The heightened pricing pressure has constrained profit for domestic producers concurrently contending with growing seafood prices, forcing many to streamline operations, seek niche markets or risk losing market share entirely. Over the next five years, producers will benefit from rising domestic demand for seafood from wholesalers, fish markets and supermarkets. The availability of fish and shellfish inputs will expand as aquacultures strengthen production and harvest totals. Perhaps most importantly, both seafood prices and per capita seafood consumption will stabilize, growing at a steady pace. These trends will enable producers to expand operations. Revenue is forecast to expand at a CAGR of 1.7% over the next five years, reaching an estimated $17.1 billion in 2030.

The Australian Fishing industry’s revenue has fallen due to a trade dispute with China, with the industry already facing strong competition from farmed fish.

Recent conditions for commercial fishing operations and aquaculture facilities have been lukewarm. Per capita disposable income has been level, while seafood prices have gone up. This has pushed seafood consumption down and while price hikes have prevented revenue from falling overall, revenue is below 2021 levels. Sea fisheries represent the largest share of revenue and has been securing its place as the largest share of revenue in recent years. While the Canadian federal government has implemented incentive programs to spur investment in aquaculture, sea fishing is still by far the largest share of revenue. This is partially because of concerns associated with ethical practices by aquaculture facilities, combined with a perception regarding its relative quality. Revenue has expended at a CAGR of 8.8% to $6.8 billion through the end of 2025. However, this is highly inflated because revenue fell by more than 25.0% leading into the period because of the COVID-19 pandemic. Revenue is slightly above 2019 levels and the 1.5% CAGR when adding the extra year is a more accurate picture of industry performance, which includes a 1.6% expansion in 2025. Profit is forecast to reach 20.5% of revenue in 2025. The trade wars with China and the United States have a chance to up-end these projections if they last for a significant period. China imposed a 25.0% duty on fish and seafood in March 2025, while the United States is working up to a blanket 25.0% tariff in April 2025. These two countries are the largest importers of Canadian fish, which represents one-quarter of all revenue. A more positive macroeconomic environment and increased domestic stability should help keep revenue moving upward in the near future. Per capita disposable income is forecast to accelerate as consumer confidence rises, while a slowdown in seafood price increases will make purchasing these goods more palatable for domestic consumers. Aquaculture, the more economically reliable and environmentally friendly method of producing fish and seafood, is also expected to become a more popular revenue driver. Revenue is expected to grow at a CAGR of 2.1% to $7.5 billion through the end of 2030.

Number of Businesses statistics on the Fishing industry in Australia

The French seafood processing industry has undergone significant transformation. The industry has contended with supply constraints caused by stringent EU fishing quotas and the economic pressures of stagnating wages and high inflation. Processors have had to navigate a reduced supply of landed seafood as fishing quotas and Brexit have cut stock access. Fish landings dropped by over 17.4% between 2018 and 2023, forcing price hikes that boost revenue in the short term but drive down volume sales. These price increases have made seafood less affordable to French households, whose disposable incomes have stagnated over the past few years and driven more households to shift toward cheaper protein alternatives like poultry and pork. Over the five years through 2025, revenue is projected to grow at a compound annual rate of 0.4%, reaching €5.6 billion. Higher seafood prices have propped up revenue, but lower volume sales are set to cause a 2.7% dip in 2025. Nonetheless, the higher retail prices for seafood have supported higher margins for processors, effectively passing on cost hikes to customers. However, this has increased competition from foreign processors that now have a price edge. The French seafood processing industry is poised to explore new avenues for growth amid shifting market dynamics. With the rise of aquaculture, processors will likely benefit from a growing supply of lower-cost farmed seafood. Premium processors will continue to lean on the exclusivity of wild-caught fish, while mass-market manufacturers embrace cheaper aquaculture options to maintain affordability. Investment in modernisation and infrastructure should enhance operational efficiency and competitiveness. Revenue is projected to grow at a compound annual rate of 0.9% over the five years through 2030 to €5.8 billion.

Market Size statistics on the Fish & Seafood Markets industry in the US

Market Size statistics on the Fishing industry in Australia

Revenue for the fish and seafood aquaculture industry has expanded over the past five years, growing at a CAGR of 0.4% to $2.4 billion over the five years to 2024, despite stagnating in 2024. This growth has been largely fueled by changing consumer behaviors, with more individuals exploring new food options and making healthier dietary choices. The industry saw its most robust growth at the beginning of this period, as consumers were eager to embrace these new trends. However, this growth has been tempered in recent years due to the impacts of inflation and tighter consumer budgets. While the industry has faced challenges, it has also seen some notable successes. One area where this is evident is in the realm of profit. Despite facing headwinds such as increased competition from overseas and the rising costs of inputs, the industry has managed to maintain profitability. This can be attributed to the continued demand for seafood products and the industry's ability to adapt and innovate in response to changing market conditions. However, the pressure from these challenges has led to a decrease in profitability, underscoring the need for the industry to continue evolving and finding new ways to drive growth. Looking ahead to the next five years, several trends are expected to shape the future of the fish and seafood aquaculture industry. As consumer demand for seafood continues to grow, the industry is expected to see a resurgence in growth. This will likely be fueled by a combination of factors, including a decline in imports, which will give domestic producers more power to set prices and a decrease in feed costs. Additionally, the depreciation of the US dollar is expected to boost exports, making domestic products more competitive in the global market. These trends, coupled with the continued demand for seafood, suggest a promising future for the industry. Industry revenue is forecast to rise at a CAGR of 1.2% to $2.5 billion over the next five years.

The US Fish & Seafood Markets are experiencing steady demand as consumer preferences increasingly lean toward healthier, sustainable and convenient options. This trend is largely driven by a heightened awareness of seafood's nutritional benefits and growing concerns about environmental impact, which boost demand for sustainably sourced products. In response, retailers and wholesalers have expanded their product ranges to include everything from fresh to frozen seafood and prepared meals. However, the sector faces challenges, including supply chain disruptions, rising inflation costs and transportation expenses. Industry-wide revenue has been growing at a CAGR of 2.5% over the past five years and is expected to total $4.3 billion in 2024 when revenue will rise by an estimated 1.2%. In recent years, the sector has navigated a complex environment. On one side, the interest in fish as a lean protein source has grown, influenced by global health trends. While demand for fresh and frozen seafood remains stable, issues like overfishing, seafood sustainability and climate change's influence on fish populations have complicated market dynamics. The pandemic added another layer, causing many consumers to shift toward frozen and packaged seafood because of restaurant closures and social distancing, spurring growth in home cooking and meal preparation. The next five years will significantly change the Fish & Seafood Markets. Awareness of sustainable sourcing will increase the popularity of responsibly farmed and wild-caught options. Plant-based seafood alternatives are predicted to gain traction as consumer preferences shift toward plant-based proteins. Also, the rise of online grocery shopping is set to impact how seafood is purchased, with a growing number of retailers offering fresh and frozen options through e-commerce platforms. As health trends persist, demand for high-quality, convenient seafood will remain strong, positioning the industry for ongoing growth. In turn, industry revenue is forecast to grow a CAGR of 0.6% over the five years through 2029 to total $4.4 billion.

Number of Businesses statistics on the Fishing and Aquaculture industry in New Zealand

Market Size statistics on the Fishing & Seafood Aquaculture industry in Canada