The global price per unit in the 'Fish & Seafood' segment of the food market was forecast to continuously increase between 2025 and 2030 by in total 3.5 U.S. dollars (+19.4 percent). After the tenth consecutive increasing year, the price per unit is estimated to reach 21.55 U.S. dollars and therefore a new peak in 2030. Notably, the price per unit of the 'Fish & Seafood' segment of the food market was continuously increasing over the past years.Find further information concerning the volume in the 'Sauces & Spices' segment of the food market in South Korea and the average revenue per capita in the 'Dairy Products & Eggs' segment of the food market in Switzerland. The Statista Market Insights cover a broad range of additional markets.

Real-time price data collected by the Boston Market News Reporter. The NOAA Fisheries' "Fishery Market News" began operations in New York City on February 14, 1938. The primary function of this joint Federal/industry program is to provide accurate and unbiased reports depicting current conditions affecting the trade in fish and fishery products. The Boston and New York Market News Reports are...

Fish market price survey contains data on market prices for different fish species, both fresh and live. The information is obtained from 28 wholesale and retail markets in the Rangpur and Rajshahi divisions of Bangladesh. The system contains updated fish price information from October, 2019 to October,2022.

Over the last two observations, the revenue is forecast to significantly increase in the seafood segments. The trend observed from 2018 to 2030 remains ********** throughout the entire forecast period.

The United States Seafood Market is segmented by Type (Fish, Shrimp), by Form (Canned, Fresh / Chilled, Frozen, Processed) and by Distribution Channel (Off-Trade, On-Trade). Market value in USD and market volume in tonnes are presented. Key data points observed include production and price.

Snapshot img

Seafood Market Size 2024-2028

The seafood market size is forecast to increase by USD 150.04 billion, at a CAGR of 13.55% between 2023 and 2028.

The market is experiencing significant growth driven by rising consumer awareness about the health benefits of seafood and the nutritional value it provides. This trend is further fueled by the increasing popularity of online retailing in the seafood industry, which offers convenience and accessibility to consumers.
However, the market faces challenges due to the depletion of certain sea species, leading to concerns about sustainability and the need for responsible fishing practices. To mitigate this issue, initiatives such as sustainable fishing and aquaculture are gaining traction, ensuring the long-term growth and sustainability of the market.

Market Analysis

Request Free Sample

The industry is a significant contributor to the global protein market, providing consumers with a wide range of options rich in essential nutrients such as omega-3 fatty acids, vitamins, and minerals. Seafood is increasingly popular due to its health advantages, making it a crucial component of a balanced diet. The price of seafood varies depending on the species, with popular choices like shrimp, salmon, tuna, cod, and tilapia being more expensive. The seafood industry is also embracing innovation, with trends such as 3D printing technology and culinary experimentation transforming the way seafood is produced and consumed. Personalization and texture are key factors driving product innovation, with alternative protein sources and seafood substitutes gaining traction due to their ethical concerns and environmental impact. Furthermore, the tourism and hospitality sectors are significant consumers of seafood, with their culinary applications adding value to the industry.

How is this market segmented and which is the largest segment?

The market 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

  Fish
  Crustacean
  Mollusca
  Others


Distribution Channel

  Offline
  Online


Form

  Fresh
  Processed


Geography

  APAC

    China
    Japan


  North America

    Canada
    US


  South America

    Brazil
    Argentina


  Europe

    France
    Spain


  Middle East and Africa

    South Africa

By Type Insights

The fish segment is estimated to witness significant growth during the forecast period. The seafood industry continues to thrive due to the increasing demand for protein sources, with seafood occupying a significant role as a high-protein meat alternative. Consumers' growing awareness of the health benefits associated with fish, such as omega-3 fatty acids, vitamins D and B2 (riboflavin), and minerals, has fueled the preference for fish over other types of seafood. The fish segment dominated The market in 2023, accounting for the largest market share. The rising number of meat eaters and the American Heart Association's recommendation of incorporating fish into a healthy diet at least twice a week further bolster the demand for fish.

Moreover, innovation and personalization are key trends in the seafood industry, with 3D printing technology enabling culinary experimentation and the development of alternative protein sources and seafood substitutes. The texture, flavor, and appearance of these products are being enhanced to mimic the authentic seafood experience. Sustainability and ethical concerns are also crucial factors influencing the market, with certifications from organizations such as the Aquaculture Stewardship Council and Marine Stewardship Council promoting sustainable aquaculture techniques. The market encompasses a diverse range of products, including fresh and frozen shrimps, salmon, tuna, cod, tilapia, lobster, and crab. Convenience seafood items cater to the busy lifestyles of consumers, making seafood more accessible.

Furthermore, the environmental impact and ethical concerns surrounding the production of these seafood items are being addressed through traceability initiatives and the promotion of lean, sustainable, and ethically sourced seafood. The market is expected to grow significantly during the forecast period, driven by these trends and the continued preference for fish as a healthy and versatile protein source.

Get a glance at the market share of various segments Request Free Sample

The fish segment accounted for USD 94.09 billion in 2018 and showed a gradual increase during the forecast period.

Will the significant importer of fish in APAC help the market grow?

APAC is estimated to contribute 38% 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 d

The Seafood Market is segmented by Type (Fish, Shrimp), by Form (Canned, Fresh / Chilled, Frozen, Processed), by Distribution Channel (Off-Trade, On-Trade) and by Region (Africa, Asia-Pacific, Europe, Middle East, North America, South America). Market value in USD and market volume in tonnes are presented. Key data points observed include production and price.

The price per unit is forecast to experience significant growth in all segments in 2030. As part of the positive trend, the price per unit reaches the maximum value for all three different segments at the end of the comparison period. Particularly noteworthy is the segment Fresh Seafood, which has the highest value of 136.92 U.S. dollars. Find further statistics on other topics such as a comparison of the revenue in India and a comparison of the price per unit in Turkmenistan. The Statista Market Insights cover a broad range of additional markets.

In 2024, the global frozen fish and seafood market decreased by -2.9% to $158.1B, falling for the second year in a row after three years of growth. The market value increased at an average annual rate of +1.5% from 2012 to 2024; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Global consumption peaked at $176.3B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

Global cod fish market value stood at USD 1,678.9 million in 2023. There has been a 6.8% y-o-y increase in the consumption of cod fish in the year to 2024, which would imply that in 2025 the global market would be USD 1,899.6 million. The sales growth across the world from the forecast period (2025 to 2035) would be by a 6.8% CAGR. Terminal forecast period end value of sales in the last forecasting year, 2035, is USD 3,667.6 million.

Attributes	Description
Estimated Global Cod Fish Industry Size (2025E)	USD 1,899.6 million
Projected Global Cod Fish Industry Value (2035F)	USD 3,667.6 million
Value-based CAGR (2025 to 2035)	6.8%

Semi-Annual Market Update

Particular	Value CAGR
H1 (2024 to 2034)	6.3%
H2 (2024 to 2034)	6.5%
H1 (2025 to 2035)	6.6%
H2 (2025 to 2035)	6.8%

Country-Wise Insights

Countries	CAGR, 2025 to 2035
USA	5.9%
Germany	6.4%
China	7.8%
Japan	7.1%
India	8.5%

Category-Wise Insights

Segment	Value Share (2025)
Fresh & Frozen Cod (By Type)	62.1%

Segment	Value Share (2025)
Breaded & Processed Cod (By Type)	37.9%

The Seafood sales reached USD 1,10,200.0 million in 2022, worldwide demand for Seafood shows a year-on-year growth of 1.7% in 2023 and thus, the target product sales are expected to reach USD 110 billion in 2024. Over the projection period (2024 to 2034), global Seafood sales are projected to rise at a compound annual growth rate (CAGR) of 3.1% and reach a sales size of USD 149 billion by 2034 end.

Attributes	Description
Estimated Global Seafood Market Value (2024E)	USD 110 billion
Projected Global Seafood Market Value (2034F)	USD 149 billion
Value-based CAGR (2024 to 2034)	3.1%

Semi-annual Market Update for Seafood Market

Particular	Value CAGR
H1	1.7% (2023 to 2033)
H2	2.1% (2023 to 2033)
H1	2.8% (2024 to 2034)
H2	3.1% (2024 to 2034)

Analysis of Top Countries, Producing, Formulating, Packaging, Distributing, and Consuming Seafood

Countries	CAGR 2024 to 2034
China	4.2%
USA	5.7%
India	6.5%

Seafood Industry Analysis by Top Investment Segments

Segment	Natural (By Nature)
Value Share (2024)	62.6%

Segment	Food (By End-use)
Value Share (2024)	77.4%

The Frozen and Canned Seafood Market is segmented by Type (Fish, Shrimp), by Distribution Channel (Off-Trade, On-Trade) and by Region (Africa, Asia-Pacific, Europe, Middle East, North America, South America). Market value in USD and market volume in tonnes are presented. Key data points observed include production and price.

In 2024, after eight years of growth, there was decline in the Ethiopian frozen fish and seafood market, when its value decreased by -1.5% to $810M. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2024: its value increased at an average annual rate of +6.2% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period.

Expanding at a CAGR of 5.7%, the global tinned fish market is projected to increase from a valuation of US$ 10.24 billion in 2024 to US$ 17.97 billion by the end of 2034, according to a new study by skilled analysts at Fact.MR.

Report Attributes	Details
Tinned Fish Market Size (2024E)	US$ 10.24 Billion
Forecasted Market Value (2034F)	US$ 17.97 Billion
Global Market Growth Rate (2024 to 2034)	5.7% CAGR
North America Market Value (2024E)	US$ 1.58 Billion
East Asia Market Value (2024E)	US$ 2.72 Billion
Sales of Salmon Fish (2024E)	US$ 3.73 Billion
Key Companies Profiled	Bumble Bee Foods, LLC. Chicken of the Sea John West Karavela Wild Planet King Oscar Bar Harbor Maruha Nichiro Corporation Icicle Seafoods Inc. LDH (La Doria) Ltd. Natural Sea Crown Prince, Inc. Roland Foods, LLC.

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 1.58 Billion
Growth Rate (2024 to 2034)	6.2% CAGR
Projected Value (2034F)	US$ 2.72 Billion

Attribute	China
Market Value (2024E)	US$ 1.88 Billion
Growth Rate (2024 to 2034)	6.2% CAGR
Projected Value (2034F)	US$ 3.43 Billion

Category-wise Insights

Attribute	Supermarkets/Hypermarkets
Market Value (2024E)	US$ 3.76 Billion
Market Share (2024E)	36.8%
Projected Value (2034F)	US$ 6.75 Billion

Attribute	Mackerel
Market Value (2024E)	US$ 3.73 Billion
Market Share (2024E)	36.5%
Projected Value (2034F)	US$ 6.69 Billion

After three years of growth, the global dried or salted fish market decreased by -0.9% to $13B in 2024. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Global consumption peaked at $13.1B in 2023, and then contracted modestly in the following year.

The fish processing industry is expected to grow from USD 413.2 billion in the year 2025 to USD 732.9 billion by the end of the year 2035. The industry is slated to grow at 5.9% CAGR during the forecast period spanning from 2025 to 2035.

Metrics	Values
Industry Size (2025E)	USD 413.2 billion
Industry Value (2035F)	USD 732.9 billion
CAGR (2025 to 2035)	5.9%

Semi-Annual Industry Update

Particular	Value CAGR
2024 to 2034 (H1)	5.4%
2024 to 2034 (H2)	6.0%
2025 to 2035 (H1)	5.5%
2025 to 2035 (H2)	6.2%

Country-wise Analysis

Countries	CAGR (2025 to 2035)
China	6.0%
India	5.8%
United States	4.5%
Indonesia	5.5%
Japan	3.9%

Competitive Outlook

Company Name	Estimated Market Share (%)
Maruha Nichiro Corporation	20-25%
Mowi ASA	15-20%
Thai Union Group	12-18%
Nippon Suisan Kaisha (Nissui)	10-15%
Charoen Pokphand Foods PCL	8-12%
Other Players	20-30%

The average for 2021 based on 165 countries was 107.92 index points. The highest value was in Switzerland: 263.59 index points and the lowest value was in the Maldives: 46.64 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

Orange Valleny Fish Market Price Data during the period of 2006 to 2011

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.

Kuwait Average Wholesale Price: Local Fish: Brown Spotted Grouper data was reported at 5.255 KWD/kg in 2017. This records a decrease from the previous number of 5.374 KWD/kg for 2016. Kuwait Average Wholesale Price: Local Fish: Brown Spotted Grouper data is updated yearly, averaging 3.019 KWD/kg from Dec 1996 (Median) to 2017, with 22 observations. The data reached an all-time high of 5.424 KWD/kg in 2014 and a record low of 1.942 KWD/kg in 2001. Kuwait Average Wholesale Price: Local Fish: Brown Spotted Grouper data remains active status in CEIC and is reported by Central Statistical Bureau. The data is categorized under Global Database’s Kuwait – Table KW.P003: Average Wholesale Price: Fish Sold in Market.