Fish & Seafood - Worldwide

Worldwide

Revenue in the Fish & Seafood market amounts to US$676.20bn in 2024. The market is expected to grow annually by 6.54% (CAGR 2024-2028).
In global comparison, most revenue is generated in China (US$97bn in 2024).
In relation to total population figures, per person revenues of US$87.25 are generated in 2024.
In the Fish & Seafood market, volume is expected to amount to 42.81bn kg by 2028. The Fish & Seafood market is expected to show a volume growth of 4.1% in 2025.
The average volume per person in the Fish & Seafood market is expected to amount to 4.9kg in 2024.

Key regions: United States, Japan, Philippines, Russia, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

When it comes to the Fish & Seafood market, it is important to consider some of its main challenges and uncertainties. A significant contributor to the changes in distribution and fish stock volume is climate change. Additionally, unforeseen events have an impact on both market supply and demand – the COVID-19 pandemic, for example, which disrupted production and the supply chain, and the Russia-Ukraine war, given that Russia is one of the top exporters of fish and seafood.

There are several factors that influence this market. This includes the expansion of fish production and product innovation, which help to increase supply numbers and thus to meet consumer demand. Furthermore, improved distribution channels also play a significant role in the development of the market. Given that fish and seafood prices are typically higher than that of meat, income growth also boosts their sales.

Over the next decade, global fish and seafood consumption is expected to grow, particularly in high-income and upper middle-income countries. In regard to Fish & Seafood market trends, it can be observed that consumption of plant-based fish and seafood or alternative proteins have increased exponentially as consumers are focusing more on health and wellness diets. Moreover, consumers are starting to care more about the food being convenient to prepare and regional, meaning that food producers need to focus more on direct-to-customer business models.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.