The fish and seafood market has witnessed remarkable growth in recent years, with fish and seafood becoming an essential part of the global food system. These products are not only delicious but also highly nutritious, offering an excellent source of lean protein, healthy fats, vitamins, and minerals. As the global population becomes more health-conscious, the demand for fish and seafood as a lean protein alternative to red meat is steadily rising. Consumers are becoming increasingly aware of the importance of sustainable sourcing, creating a shift toward responsibly sourced seafood, with a significant focus on innovations in aquaculture technologies.
Fish and Seafood Market Size
The global fish and seafood market was valued at USD 407.22 billion in 2024. This robust market size reflects both the demand for seafood as a key source of nutrition and the growing popularity of seafood-based products worldwide. The market is projected to grow at a compound annual growth rate (CAGR) of 4.10% from 2025 to 2034, potentially reaching USD 608.61 billion by 2034. This growth is driven by factors such as the rising demand for sustainable seafood, increasing innovations in fish farming, and the expansion of seafood consumption in emerging markets. As health trends continue to favor fish and seafood due to their high nutritional value, the market is poised for further expansion.
Fish and Seafood Market Trends
Several trends are shaping the global fish and seafood market, providing a glimpse into its future direction:
Increased Demand for Sustainable Seafood: As consumers become more environmentally conscious, the demand for sustainably sourced seafood is growing. Sustainability certifications, such as those from the Marine Stewardship Council (MSC), are gaining importance, as they assure consumers that their seafood choices come from responsible sources. This trend is pushing both producers and suppliers to adopt more sustainable practices in the sourcing, packaging, and distribution of seafood.
Advancements in Aquaculture Technologies: Innovations in aquaculture, such as recirculating aquaculture systems (RAS) and genetically engineered fish, are revolutionizing the industry. These technologies are enhancing the efficiency of fish farming, reducing environmental impact, and increasing the availability of seafood products. Aquaculture is expected to become a critical solution to meet growing global demand while ensuring sustainability.
Rising Popularity of Seafood in Emerging Markets: As economies in regions like Asia-Pacific, Africa, and Latin America grow, seafood consumption is also rising. In particular, countries like China, India, and Brazil are seeing increased demand for fish and seafood products. The middle-class expansion in these regions is driving this shift, as consumers have greater access to seafood and more disposable income to spend on premium products.
Health and Wellness Trends: The increasing consumer focus on health and wellness is further boosting the demand for seafood. Fish and seafood are considered healthier protein sources, rich in omega-3 fatty acids, vitamins, and low in unhealthy fats, making them an attractive option for those seeking a nutritious diet. This trend is especially relevant among millennials and health-conscious individuals.
Plant-Based and Seafood Blends: Another growing trend in the market is the introduction of plant-based seafood alternatives or blends. Companies are developing seafood products that combine plant-based ingredients with traditional fish and seafood, catering to consumers looking for more sustainable or plant-based alternatives without compromising on taste or texture.
Fish and Seafood Market Growth
The global fish and seafood market is on a growth trajectory, driven by several key factors:
Health Consciousness and Rising Seafood Consumption: As more consumers seek to improve their diets, the demand for seafood as a lean, healthy protein is increasing. The rising awareness of the health benefits of seafood, including heart health and weight management, is fueling growth. Consumers are increasingly prioritizing seafood as part of a balanced and nutritious diet, contributing to market expansion.
Sustainability and Eco-Friendly Practices: Sustainability is one of the most critical drivers of growth in the fish and seafood market. Consumers and businesses alike are placing more emphasis on sourcing seafood from responsible fisheries and farms. The growing focus on reducing the carbon footprint and ensuring the long-term health of aquatic ecosystems is pushing businesses to adopt more eco-friendly practices, such as using sustainable packaging and reducing waste.
Aquaculture and Innovation: Innovations in aquaculture technologies are improving the efficiency and sustainability of seafood production. Advancements such as offshore fish farming, selective breeding, and disease control have enhanced the ability of the industry to meet increasing global demand while minimizing its impact on the environment. These developments will continue to play a major role in the growth of the market.
Consumer Demand for Premium Products: As consumer disposable incomes rise, particularly in emerging markets, there is a growing demand for high-quality, premium seafood products. Consumers are seeking premium fish species, organic options, and exotic seafood varieties. This demand for high-end products, along with a growing preference for fresh over frozen seafood, is driving industry growth.
Global Trade and Seafood Exports: The globalization of trade has allowed for the expansion of seafood products to international markets. Major seafood exporters are increasingly targeting new regions and markets, especially in Asia and Africa, where demand for high-quality seafood products is rising. The growth of e-commerce platforms has also contributed to the expansion of the global seafood trade.
Fish and Seafood Market Forecast
The global fish and seafood market is forecasted to grow at a CAGR of 4.10% from 2025 to 2034, reaching USD 608.61 billion by 2034. This steady growth will be driven by factors such as increased seafood consumption in emerging markets, innovations in aquaculture technology, rising consumer awareness of health benefits, and the growing importance of sustainability in seafood sourcing. As global trade expands and new markets open, the demand for fish and seafood products is expected to remain strong, ensuring the continued growth of the market over the next decade.
Competitive Landscape
The global fish and seafood market is competitive, with several major players dominating the industry. These companies are focused on sustainability, innovation, and expanding their market reach. Some of the leading companies in the market include:
High Liner Foods Incorporated: High Liner Foods is a key player in the global frozen fish and seafood market. The company is known for its commitment to sustainability and offers a wide range of frozen seafood products, including fish fillets, shellfish, and value-added seafood items.
Leroy Seafood Group: A leading producer of farmed salmon and other seafood products, Leroy Seafood Group is a major player in the aquaculture industry. The company is dedicated to sustainable farming practices and provides high-quality seafood products to both domestic and international markets.
Lyons Seafoods Co.: Lyons Seafoods specializes in the processing and distribution of a wide variety of seafood products, including frozen fish and ready-to-eat seafood meals. The company is committed to sustainable sourcing and operates globally.
Maruha Nichiro Corporation: Maruha Nichiro is a global seafood company based in Japan, known for its diverse range of products, including frozen, canned, and processed seafood. The company emphasizes sustainable fishing practices and is a key player in the global seafood trade.
Thai Union Group PCL: Thai Union is one of the world’s largest seafood producers, with a focus on tuna, shrimp, and other seafood products. The company is committed to sustainability and has a significant presence in both the domestic and international markets.
Trident Seafoods Corporation: Based in the United States, Trident Seafoods is one of the largest seafood companies globally. The company offers a wide range of frozen and fresh seafood products, with a strong emphasis on sustainability and eco-friendly practices.
Austevoll Seafood ASA: Austevoll Seafood is a leading seafood company with a focus on sustainable fish farming and wild-caught fish. The company operates in several regions, supplying a broad range of seafood products to global markets.
Others: In addition to these major players, many regional companies also contribute to the global fish and seafood market by offering specialized products, catering to local tastes and demands, and focusing on sustainability in their sourcing practices.
