Revenue is expected to grow at a compound annual rate of 6.2% over the five years through 2025-26 to £549 million. Even as household budgets have tightened, consumers are willing to pay for premium, traceable fish and seafood, supporting growth. Profit margins remain above those of general retail, thanks to high product quality and customer loyalty, but have narrowed due to rising wage and energy costs. In April 2025, the National Living Wage rose by 6.7% to £12.21, while the recent 14% drop in electricity bills offers only partial relief. In 2025-26, revenue is expected to rise by 1.9%.To protect profit and build resilience, independents like Moxon’s Fresh Fish have cut high-rent locations and invested in e-commerce, smokehouse production, and next-day courier delivery. Others, including The Sea, The Sea, are using chef residencies, digital marketing and a focus on sustainability to drive new business. Bells Fishmongers has leveraged national awards and local sourcing to expand its customer base. Across the industry, investment in energy-efficient equipment, transparent supply chains and digital engagement is becoming more common.Revenue is projected to grow at a compound annual rate of 3.7% over the five years through 2030-31 to reach £658.5 million. Rising operating costs, intense competition from supermarkets and supply chain volatility remain significant challenges. The closure of London’s Billingsgate Market will require many fishmongers to secure new sources and logistics networks. However, growing demand for sustainability, health and full traceability will benefit retailers who can prove their provenance and build trust. Climate change and shifting consumer habits will likely influence product mix and sourcing strategies. The most successful seafood retailers will continue to invest in digital tools, efficient logistics and customer-focused service, securing a loyal customer base in a competitive market.

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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?

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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 s

Learn about the growing frozen fish and seafood market in the UK, expected to reach 575K tons and $4.2B by 2035.

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The fish and seafood market size in Europe has the potential to grow by USD 8.78 billion during 2020-2024, and the market’s growth momentum will accelerate at a CAGR of 2.07%.

This report provides a detailed analysis of the market by product (fresh and chilled fish and seafood, frozen fish and seafood, canned fish and seafood, and others), geography (Spain, Italy, France, the UK, and the Rest of Europe), and key vendors.

Market Overview

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

Agama Istra LLC Austevoll Seafood ASA Bolton Group Srl heristo AG LABEYRIE FINE FOODS Mowi ASA Nomad Foods Ltd. Nueva Pescanova SL Pomona SA STORE FISH & SEAFOOD SRL

The fish and seafood market in Europe is fragmented and the vendors are deploying growth strategies such as product differentiation to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

The market players also significantly leverage external market drivers such as rising awareness about the benefits of seafood consumption to achieve growth opportunities. However, factors such as the growing popularity of vegan seafood will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the fish and seafood market forecast report of Europe for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies,

This fish and seafood market analysis report of Europe also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

Fish and Seafood Market in Europe: Key Drivers and Trends

The rising awareness about the benefits of seafood consumption is one of the key factors fueling market growth in Europe. Fish is a rich source of essential nutrients, such as omega-3 fatty acids, high-quality lean protein, healthy fat, important vitamins, and minerals, including selenium and vitamin D. Such nutrients are important during pregnancy and for a healthy heart and brain. The rising awareness among consumers regarding the advantages of fish and seafood consumption has increased the demand for fish and seafood products in Europe, and this trend is expected to continue even during the forecast period.

Another driver that can positively influence the growth of the market is the increasing prominence of land-based aquaculture. Although land-based aquaculture is more expensive than marine aquaculture, it causes less environmental problems than the ones associated with sea cage aquaculture. Land-based fish farming involves confining the fish to indoor tanks and inside facilities, which eliminates the interactions between the farmed fish and the external environment. The increasing demand for salmon has surged investments in land-based salmon farming in countries such as Norway, Italy and Spain.

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Fish and Seafood Market in Europe: Segmentation by Geography

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56% of the market’s growth will originate from the rest of Europe during the forecast period. Market growth in this region will be faster than the growth of the market in Spain, Italy, France, and the UK.

The increasing demand for frozen and canned fish and seafood is one of the prime factors that will facilitate the fish and seafood market growth in the rest of Europe over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

Fish and Seafood Market in Europe: Segmentation by Product

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The increase in processing activities of various fish products in countries such as Norway and Spain will help in increasing the demand for fresh and chilled fish and seafood in Europe. Technological advances in cold chain logistics have also aided market growth in Europe. Maintaining the temperature is an essential part of preserving the freshness of the fish and seafood products without using artificial preservatives. All these factors have been a major factor driving the growth of the fresh

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.

Learn about the forecasted growth of the frozen fish and seafood market in the UK, driven by increasing demand. Market volume is expected to reach 598K tons by 2035, with a value of $4.3B.

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

Valued at USD 900.64 million in 2025, the market is anticipated to reach USD 1,509.50 million by 2035, registering a steady CAGR of 5.3%.

Country-wise Outlook

Analyzing Plant-Based Fish Market by Top Investment Segments

Fresh Fish & Seafood (Counter) (Fish & Seafood) Market in Germany – Outlook to 2025; Market Size, Growth and Forecast Analytics is a broad level market review of Fresh Fish & Seafood (Counter) market in Germany. Read More

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Processed Seafood Market Size 2024-2028

The processed seafood market size is forecast to increase by USD 76.1 billion, at a CAGR of 8.08% between 2023 and 2028.

The market is driven by the increasing demand for protein-rich and convenient food solutions. Consumers' changing tastes and preferences towards ready-to-eat seafood products contribute significantly to market growth. A notable trend shaping the industry is the growing popularity of vegan seafood alternatives, catering to the increasing number of consumers adopting plant-based diets. However, the market faces challenges such as sustainability concerns and the need for innovative production methods to meet the rising demand for eco-friendly and ethical seafood options.
Companies in the market must navigate these challenges to capitalize on the opportunities presented by the shifting consumer landscape and emerging trends.

What will be the Size of the Processed 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 advancements in protein extraction methods, fish filleting techniques, and various preservation technologies. Proteins are extracted using innovative methods, ensuring maximum yield and maintaining the texture and flavor of the final product. Fish filleting techniques have become more refined, leading to improved yields and reduced waste. Modified Atmosphere Packaging and automated processing lines have revolutionized the industry, extending shelf life and increasing efficiency. Surimi production processes have become more streamlined, resulting in higher quality and consistent textures. Flavor compounds are added to enhance taste and appeal, while seafood preservation techniques ensure product freshness.

Sustainable seafood practices and aquaculture processing methods are gaining prominence, addressing concerns over overfishing and environmental impact. Microbial contamination control and food safety regulations are strict, with high-pressure processing and irradiation used to eliminate bacteria and ensure safety. Fish oil extraction and bycatch reduction strategies are essential components of the industry, with a focus on minimizing waste and maximizing value. Traceability systems are crucial for maintaining transparency and accountability, ensuring the authenticity and origin of seafood products. Seafood packaging materials are continually evolving to provide better protection against spoilage mechanisms and maintain the sensory qualities of the product.

Sensory evaluation and seafood freezing methods are essential for assessing product quality and ensuring consumer satisfaction. Fish muscle structure and processing byproducts are being explored for their potential applications in various industries, from pharmaceuticals to cosmetics. The ongoing unfolding of market activities and evolving patterns in the market demonstrate its dynamic and ever-changing nature.

How is this Processed Seafood Industry segmented?

The processed 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.

Product

  Frozen seafood
  Canned seafood
  Smoked seafood
  Others


Distribution Channel

  Offline
  Online


Processing Method

  Preserved
  Ready-to-Cook
  Ready-to-Eat


Source

  Fish
  Crustaceans
  Mollusks


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 Product Insights

The frozen seafood segment is estimated to witness significant growth during the forecast period.

The frozen seafood market experiences significant growth due to increasing consumer preference for high-quality, fresh seafood with minimal quality deterioration. Frozen seafood, including various fish, crab, shrimp, cuttlefish, octopus, and squids, is preserved by lowering the temperature to below -18°C. This process maintains the seafood's inherent qualities, making it a popular choice for consumers seeking protein-rich, nutrient-dense food. However, maintaining the frozen state is crucial to prevent spoilage. Cold chain logistics and proper handling techniques ensure the fish remains frozen during transport and storage. Enzyme activity is minimized through these methods, prolonging the shelf life. Value-added seafood products, such as surimi and fish fillets, undergo various protein extraction methods and texture analysis to enhance their appeal and value.

Sustainable seafood practices

Learn about the projected growth of the frozen fish and seafood market in the UK, with an anticipated increase in market volume to 575K tons and market value to $4.2B by 2035.

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[214+ Pages Report] The global Frozen Seafood market size is expected to grow from USD 37.22 billion in 2023 to USD 59.28 billion by 2032, at a CAGR of 5.3% from 2024-2032

Over the five years through 2024-25, industry revenue is projected to drop at a compound annual rate of 2.1% to just over £1.2 billion, owing to a sharp dip in revenue over 2020-21 due to COVID-19-related disruptions causing seafood prices to sink along with catch volumes, despite a quick recovery the following year. In 2024-25, marine fishing revenue is expected to hike by 2.5%, supported by persistently high seafood prices and a steady landed volume of most seafood products. Rising health consciousness has propped up fish consumption, driving sales for marine fishermen despite high seafood prices. However, inflationary pressures have reduced the number of consumers eating out, which is eroding sales to wholesalers and constraining revenue growth. Ongoing competition from the Aquaculture industry will also constrain fishers’ sales. Relaxations in regulations related to the Common Fisheries Policy (CFP) have reduced the wasteful discarding of fish and boosted marine fishermen's efficiency, supporting profitability. Profitability has also benefitted from more marine fishermen joining Fish Producer organisations to improve bargaining power within downstream markets. However, soaring marine fuel prices in 2022-23 amid the Russia-Ukraine conflict leading to rising global fuel prices reduced marine fishers’ profitability. Although marine fuel prices have staved off in 2024-25, marine fishermen continue to face pressures from high operating costs. As this pressure continues, the marine fishing industry is likely to become more concentrated. Major fishing companies raised their profitability through the difficult year of 2022-23 thanks to improved operating efficiency. Over the five years through 2029-30, marine fishermen's revenue is projected to swell at a compound annual rate of 1.2% to £1.3 billion. Rising disposable incomes will drive up fish consumption, as fish is generally more expensive than other meat. The move away from CFP regulations post-Brexit will continue to boost volume catches in UK waters, but quotas in the Atlantic and North Sea will depend on EU-UK annual negotiations of fishing rights.

The Seafood Market encompasses various product categories, including cephalopods, shellfish, mollusks, level fish, groundfish, salmonids, fish, and pelagic. Each category has unique characteristics, nutritional value, and market dynamics. Groundfish, such as cod, haddock, and pollock, are widely consumed in various cuisines and are often used in frozen and processed seafood products. Salmonids, including salmon and trout, are highly valued for their omega-3 fatty acid content and are available in both fresh and farmed varieties. Cephalopods, such as squid and octopus, are gaining popularity in various culinary applications and are often used in sushi and other seafood dishes. Recent developments include: June 2022: Mitsubishi Corporation (MC) and Maruha Nichiro Corporation (Maruha Nichiro) are happy to announce our agreement to form ATLAND Corporation (ATLAND), a new joint venture firm specializing in land-based salmon farming. ATLAND will be developed in the Toyama prefecture's Nyuzen town in October 2022. ATLAND's investment ratio will be MC 51% and Maruha Nichiro 49%., June 2022: Northcoast Seafoods Ltd has been acquired by Seafood Connection Holding BV (Seacon), a subsidiary of Maruha Nichiro Corporation. Northcoast joins the Maruha Nichiro Group as a result of this acquisition. The UK company in Grimsby, England's northeast, sells prawns and whitefish to merchants. According to Seafood Connection, its offering is complementary to its own..

Comprehensive dataset of 710 Fish and seafood restaurants in United Kingdom as of July, 2025. Includes verified contact information (email, phone), geocoded addresses, customer ratings, reviews, business categories, and operational details. Perfect for market research, lead generation, competitive analysis, and business intelligence. Download a complimentary sample to evaluate data quality and completeness.

Smoked Fish & Seafood Market Outlook

The global smoked fish & seafood market size was valued at approximately USD 16.3 billion in 2023 and is projected to reach USD 27.4 billion by 2032, growing at a compound annual growth rate (CAGR) of about 6.1% during the forecast period. This robust growth can be attributed to a variety of factors including increasing consumer demand for ready-to-eat and convenient food products, rising health consciousness, and the expanded availability of smoked fish and seafood products across different distribution channels.

One of the primary growth factors driving the smoked fish & seafood market is the increasing consumer inclination towards health and wellness. Smoked fish and seafood are high in essential nutrients such as omega-3 fatty acids, proteins, vitamins, and minerals, which align well with current health trends. Consumers are becoming more aware of the health benefits associated with these products, including their role in supporting cardiovascular health and reducing the risk of chronic diseases. The rising prevalence of lifestyle-related health conditions has bolstered the demand for nutritious and convenient food options, thereby driving market growth.

Another significant growth factor is the growing popularity of gourmet and exotic food items. Smoked fish and seafood are often considered delicacies and are increasingly being incorporated into a variety of culinary applications, ranging from appetizers and salads to main courses and sushi. The hospitality and foodservice sectors are capitalizing on this trend, offering a wide range of smoked seafood dishes that cater to sophisticated palates. This culinary diversification is making smoked fish and seafood more accessible and appealing to a broader audience, further fueling market expansion.

The expansion of distribution channels is also a key driver of the smoked fish & seafood market. With the advent of e-commerce and online grocery shopping, consumers have greater access to a diverse range of smoked seafood products. Specialty stores and supermarkets/hypermarkets are also expanding their offerings, providing a wider selection of high-quality smoked fish and seafood. Additionally, advancements in packaging technologies are ensuring longer shelf lives and better preservation of smoked products, making them more convenient and appealing to consumers.

In the realm of smoked fish and seafood, Fish Roe Fish Eggs are gaining attention for their unique flavor and nutritional benefits. Often considered a delicacy, fish roe is rich in omega-3 fatty acids, proteins, and essential vitamins, making it a sought-after ingredient in gourmet cuisine. The inclusion of fish roe in various culinary applications, such as sushi and canapés, is becoming increasingly popular among chefs and food enthusiasts. This trend is not only enhancing the appeal of smoked seafood dishes but also contributing to the diversification of products available in the market. As consumers continue to explore exotic and premium food options, the demand for fish roe is expected to rise, further supporting the growth of the smoked fish and seafood market.

From a regional perspective, Europe currently holds the largest market share in the smoked fish & seafood market, followed by North America and the Asia Pacific. The high consumption levels of smoked fish and seafood in European countries such as Norway, the UK, and Germany can be attributed to traditional dietary habits and the availability of premium-quality products. North America is witnessing substantial growth due to increasing health consciousness and the rising popularity of smoked products in gourmet cuisine. The Asia Pacific region is expected to experience the fastest growth during the forecast period, driven by urbanization, rising disposable incomes, and changing dietary preferences.

Product Type Analysis

The smoked fish & seafood market is segmented by product type into smoked salmon, smoked mackerel, smoked trout, smoked tuna, and others. Smoked salmon holds a significant share of the market due to its widespread popularity and high demand across various regions. Known for its rich flavor and nutritional benefits, smoked salmon is a staple in many European and North American diets. It is commonly used in gourmet dishes, salads, and as a breakfast staple. The increasing availability of different varieties and flavors of smoked salmon is further boosting its market share.

Seafood processors' revenue is projected to sink at a compound annual rate of 0.7% to £3.8 billion over the five years through 2024-25when the average profit margin is set to sit at 7.1%. Domestic demand conditions have been bleak, as the rising cost-of-living squeeze raised inflationary pressures and higher selling prices made seafood products less affordable. Despite this, climbing awareness of the health benefits of consuming seafood pushed back against severe market pressures. Brexit and the EU-UK quota agreement caused a drop in fish landing volumes, as fewer UK and foreign vessels are landing their catches in the UK to avoid export red tape. Demand conditions have improved in recent years thanks to shifting health trends, which has offset the impact of rising prices. Nonetheless, processors have had to contend with tricky conditions as seafood and operating prices have soared because of lower landed volumes and surging energy prices. Supermarkets remain the dominant market in the industry, which has constrained profitability. The major supermarkets have strong negotiating power and have limited price hikes, forcing processors to absorb mounting production costs. Revenue is projected to swell at a compound annual rate of 2.5% to £4.2 billion over the five years through 2029-30, when the average profit margin is projected to be 7.6%. Shopper’ ever-growing health consciousness will support demand for seafood, boosting the industry. Import competition will remain considerable and limit expansion, especially from low-cost markets like China and Vietnam. Profitability is set to come under pressure from rising labour costs and tightening household budgets, forcing processors to carry the elevated financial burden.