Seafood Market Size to Achieve USD 1,021.6 Billion by 2034

Seafood Market Size, Share, Trends, and Forecast Analysis 2034

The global seafood market size is increase from USD 426.23 billion in 2025 to nearly USD 1,021.6 billion by 2034, registering a CAGR of 10.20% over the forecast period from 2025 to 2034. This surge is driven by rising health consciousness, growing demand for high-protein diets, advancements in aquaculture, and increasing consumption of frozen and ready-to-eat seafood across emerging economies.

Last Updated: 18 June 2025 Category: Meat Products and Seafood Industry Insight Code: 5654 Format: PDF / PPT / Excel

Seafood Market Size, Share and Regional Forecast 2034

The global seafood market size reached at USD 386.78 billion in 2024 and is anticipated to increase from USD 426.23 billion in 2025 to an estimated USD 1,021.6 billion by 2034, witnessing a CAGR of 10.20% during the forecast period from 2025 to 2034. The market is expanding globally due to increasing pescetarian lifestyle, growing awareness of high protein diet, proliferating aquaculture in various countries and increasing hectic lifestyle which in turns hypes the convenient food products like different seafoods.

Seafood Market Size 2025 to 2034

Key Highlights

  • By region, Asia Pacific dominated the global seafood market in 2024. The region is dominating due to increasing population rate, increasing urbanization trend and changed food habits.
  • By region, Europe expects the fastest growth in the global market in 2024. The increasing rate of urban population opting for various seafood as a meal along with increased disposable income are key drivers of the market in the region.
  • By region, North America held the notable growth in the market share in 2024. The region is expanding due to the growing rate of millennial people and the growing shift towards convenience food.
  • By type, the fish segment accounted for the largest market share in 2024. The segment is growing due to increased awareness about its health benefits as it is a rich source of protein and omega-3 fatty acids that are essential for brain health and other crucial bodily functions.
  • By type, the crustaceans' segment is expected to grow at a significant rate during the foreseeable period. The segment is growing due to increasing demand for various types of species like crabs, shrimps, lobsters, and other food items with different tarts.
  • By form, the fresh segment dominated the global seafood market in 2024. The segment held the highest market share due to growing demand for premium and natural products that contain high quality nutrients.
  • By form, the processed segment expects the fastest growth in the market during the foreseeable period. The segment is expanding due to its affordability and high storage capacity that offers various sea foods.
  • By distribution channel, the supermarket/hypermarket segment dominated the global market in 2024. The segment is dominating due to various products that can be purchased at the same location with different price ranges and as per requirement.
  • By distribution channel, the online segment is expected to propel at the fastest CAGR during the upcoming period. The segment is growing due to the hectic lifestyle in the urban areas where online sales channels offer convenience doorstep delivery

Industry Coverage

Study Coverage Details
Growth Rate from 2025 to 2034 CAGR of 10.20%
Market Size in 2025 USD 426.23 Billion
Market Size in 2026 USD 469.71 Billion
Market Size by 2034 USD 1,021.6 Billion
Largest Market Asia pacific
Base Year 2024
Forecast Period 2025 to 2034
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Rising Health Consciousness in the Worldwide Population Accelerates the Seafood Market Expansion

The global seafood market is continuing to showcase a substantial growth rate owing to the growing health-conscious people across the globe looking for high protein natural food sources along with essential nutrients. Increasing disposable income and per capita consumption is also a key driver for the market's expansion. Over the course of the years, a significant change has been witnessed in people’s diet patterns and preferences for food consumption. people are more inclined towards pescatarians around the globe.

One of the significant growth drivers for the market is emerging aquaculture fields while offering sustainable options to wild-caught seafood. Though, rising questions about overfishing and depletion in marine ecosystem, is also a major point of discussion on a global stage. However, the market is responding to the critics by presenting innovative options like plant-based seafoods and products that are certified for sustainability which highlights industry’s resilience to grow further by shifting towards responsible provider.

  • The increasing trend of aquaculture is contributing to half of the global seafood market growth by offering various seafood products. The advancement in hatchery methods and technologies that farmed seafood such as salmon, tilapia, shrimp and others has witnessed robust growth rate by offering job creation to rural areas.
  • Consumers across the world are increasingly shifting towards seafood as it is a rich source of high-quality protein. Many studies have shown that seafood consumption is linked with sharper memory and healthy brain function due to the essential nutrients like omega-3 fatty acids in it which help reduce inflammation in the body leading to efficient brain functions. This trend is majorly driven by adults and fitness-conscious individuals.
  • Another significant trend for the market is increasing consumption of ready-to-cook seafood products. Owing to the hectic urban lifestyle, demand for convenient seafood products like frozen, ready-to-cook, pre-seasoned products and marinated food items has seen a significant surge and gaining traction in retail stores and online food delivery platforms. This trend is backed by many companies approaching consumers with innovations in flavors, portion size, and packaging type.
  • An innovative trend has seen in the market is integration of the blockchain and digital tracking systems that are majorly deployed to offer high value transparency in the supply chain process of market. Consumers are increasingly questioning the source of seafood to ensure its credibility and sustainability. Certifications like the marine stewardship council, aquaculture stewardship council are some of the certifications marking significant changes in the seafood market and its growth reasons.

Market Opportunity

Growing Shift Towards Pescetarian Lifestyle 

A significant opportunity that propels the seafood market is increasing inclination toward pescetarian lifestyle around the globe, creating a robust foundation for the market. Growing health consciousness among people in highly developed nations indirectly influences the choices of developing nations, as they advertise such products which further expand their market reach. Countries like India, China, Brazil, south Africa have contributed the increased consumption of seafood products and various fish products. Fish like salmon, trout, and herring are most popular due to their nutrients dense base which causes drastic changes in fish consumption patterns. 

Many people follow a vegetarian diet along with fish consumption to gain maximum health benefits, which is popularly known as a pescetarian lifestyle. 

Market Challenge

Expansion of Plant-Based Food Products

Despite having many benefits of pescetarian food choices and other seafoods products, many people are opting for plant-based non-veg products due to its benefits and wide availability in the stores and online platforms. Plant-based nonveg products offer same tastes and health benefits that can be derived by incorporating non-veg diet, by acknowledging this shift in the consumer’s choices, manufacturers are increasingly innovating and launching plant-based meat products which backed by celebrities and various advertisements.

Such steps are heavily influencing people’s food choices, which adversely affects the growth of the market as over the past years, plant-based diets have emerged as a mainstream sector from niche market. In addition to this, the notable growth rate of flexitarian consumers is also a growth hampering factor for the seafood market around the globe.

Regional insights

Why Does Asia Pacific Dominate the Seafood Market?

Asia pacific accounted for the largest seafood market share in 2024. The region is growing due to increasing consumption of seafood products in countries like China, Vietnam, India, Thailand and Indonesia. These are the key contributors of the market expansion in the Asia pacific due to large coastal population and high export rates. According to the data, China alone, in 2024, has produced a seafood product of 74.1 million metric tons which is 4% more than the previous year 2023 and thus, maintained its position as a largest seafood producer across the globe.

Furthermore, the region holds a strong presence in the aquaculture sector due to robust infrastructure. It offers various fish types like salmon, tilapia and shrimp with notable costs due to its health benefits and increasing popularity, government is also supportive for seafood products adoption and sustainable aquaculture which propels mass export of fish and seafood products to various other countries, highlighting its dominance across the globe.

What are The Factors Fueling Europe Seafood Market?

Europe expects the fastest growth in the market during the forecast period. The region's growth is attributed to the growing demand from people of every age looking for food with maximum health benefits. Another influencing factor for the market expansion is the growing rate of the working population, which tends to buy ready-to-cook fish products owing to their busy lifestyle pattern. Increased awareness about the benefits of fresh and premium quality seafood is another prevailing factor for the market’s growth on a large scale.

  • According to the data released in 2024, by European market observatory for fisheries and aquaculture products, European Aquaculture production has seen 19% growth.

North America Accounted for a Notable Growth in the Seafood Market in 2024. 

The region is growing due to the growing rate of millennial people and the increasing shift towards convenient food items along with high nutritional value which can be precisely found in fish and seafood products. Domestic players are expanding in the developed countries like U.S. and Canada due to expansion of seafood production units by many leading manufacturers in the region strengthening the market further. 

  • According to the data published by USDA- U.S. department of agriculture, nearly USD 4.93 billion value have been estimated for the U.S. Fish and seafood export in 2024. (Source: USDA)

Segment Insights

Type Insights

Why did the Fish Segment Held the Largest Seafood Market Share in 2024?

The fish segment accounted for the largest market share in 2024. The segment is highly dominating due to the popularity of various fish and fish products among people across the globe. Fish are rich source of nutrients like omega-3fatty acids which is crucial for health brain function, brain stem and to save physical structure of the brain from shrinking due to aging factor and helps defeat neurological disorders like dementia, schizophrenia which are some of the prominent brain degenerative disorders observing by medical professionals these days.
By knowing this trend, many restaurants also serve different types of fresh fish curries, fish products with variety are fueling the market. Moreover, Increased awareness about the healthy diet filled with protein source among individuals and fitness enthusiasts is a key driver for the segment’s growth.

The Crustaceans Segment is also Witnessing Notable Growth During the Foreseeable Period. 

The segment is growing due to changing food choices of many individuals which includes various types of seafood products made up of sea species like lobsters, shrimps and crabs. Many restaurants offer these food items as premium food pallets to attract consumers.

Form Insights

Why are Fresh Seafood Product Preferred?

The fresh segment accounted for the largest seafood market share in 2024. The segment is dominating due to hype for natural and premium fresh seafood products as they offer maximum nutritional value when fresh than leftover for some days. Each passing day can reduce its nutrient value if it is not preserved properly. Thus, many people prefer fresh seafood and fish types due to their aroma, flavors and quality attributes are maximum at this point.

The Processed Segment Expects the Fastest Growth in the Market During the Forecast Period. 

The segment is expanding due to increasing demand for off-season seafood products that should be properly stored and refrigerated. By knowing this trend, manufacturers are working on best preservation practices and processes. The urban population is a major contributor to this segment’s growth owing to their busy lifestyle and need for convenient but nutritionally rich food products.

Distribution Channel Insights

What are the Benefits Offered By Supermarket/Hypermarket?

The supermarket/hypermarket segment dominated the seafood market in 2024. The segment's growth can be attributed to factors like supermarket/hypermarket offering a range of multiple products at a single offline platform or store. Supermarket offers frozen and highly processed seafood products with different types and sustainable packaging that showcase its quality standards. Easily available fish types in retail stores include Atlantic salmon, catfish, tuna and canned fish, which are largely stored in the supermarket/hypermarket.

The Online Distribution Channel is Witnessing the Fastest Growth Rate During the Foreseeable Period. 

The segment is propelling at a substantial growth rate due to the convenience it offers. Online platforms provide doorstep home delivery of many seafood items with highly preserved methods at affordable costs and in a minimum time frame. This lowers the hustle to go out and purchase the same products, particularly for people who have a busy lifestyle in cities. This trend is prevalent due to its unprecedented offerings and ease of working.

Recent Developments in the Seafood Market

MPEDA 

  • Exhibition/Event: In September 2024, The Marine Products Export Development Authority-MPEDA have recently unveiled rich seafood heritage of India at the event named Seafood EXPO Russia 24 held at the Expo Forum EC in St Petersburg highlights India's commitment to offer quality food with its growing platform. (Source: MPEDA)

Chicken of the Sea

  • Launch: In April 2025, a leading seafood provider firm, U.S- based Chicken of the Sea, launched a new seafood product such as limited-time wild-caught Light tuna packet with ghost pepper owing to the increasing demand for on-the-go high-protein snacks in the Unites states. (Source: SeafoodSource)

Seafood Market Leading Companies

Seafood Market Companies

Segments Covered in the Report

By Type

  • Fish
  • Crustaceans
  • Molluscs
  • Others

By Form

  • Fresh 
  • processed

By Distribution Channel

  • Supermarkets/Hypermarkets
  • Convenience Stores & Specialty Stores
  • Online Sales Channel
  • Others

By Region

  • North America 
  • Europe
  • Asia Pacific
  • Middle East and Africa (MEA)
  • Latin America 
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  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2023
  • Base Year: 2024
  • Estimated Years: 2025-2034

Meet the Team

Vidyesh Swar, Senior Research Analyst at Towards Food & Beverages, specializes in market research, focusing on supply-demand evaluation, pricing analysis, alternative proteins, plant-based foods, and sustainable food technologies within the industry.

Learn more about Vidyesh Swar

Aditi Shivarkar, with 14+ years in Food and Beverages market research, specializes in food, beverage, and eco-friendly packaging. She ensures accurate, actionable insights, driving Towards FnB's excellence in industry trends and sustainability.

Learn more about Aditi Shivarkar

Related Insights

FAQ's

The global seafood market is projected to grow from USD 426.23 billion in 2025 to USD 1,021.6 billion by 2034, at a strong CAGR of 10.20%. This growth is primarily driven by increasing demand for high-protein diets, expanding aquaculture production, and a growing shift toward pescetarian lifestyles worldwide.

Asia Pacific leads in volume due to high consumption and aquaculture exports, especially from China and India. Europe is the fastest-growing market, driven by premium seafood demand and convenience buying. North America shows stable growth, fueled by millennial preferences and product innovation.

Key growth drivers include increasing awareness of seafood’s health benefits, a global move toward healthier and protein-rich diets, and the rise of aquaculture as a sustainable alternative to wild fishing. Urbanization and demand for ready-to-eat meals also significantly support market expansion.

Growth is challenged by the rising popularity of plant-based seafood alternatives, overfishing concerns, and regulatory scrutiny on sourcing and labeling. The growing number of flexitarian consumers and ethical food choices also present hurdles to traditional seafood demand.

Aquaculture now contributes to nearly half of global seafood output. Innovations in farming technologies and feed efficiency are improving sustainability and reducing dependency on wild catch. It also promotes job creation in rural regions and strengthens the global supply chain.

Technology is enhancing transparency and efficiency across the value chain. Blockchain and digital tracking systems improve traceability, while IoT and AI optimize aquaculture operations. Online sales platforms and logistics innovations are redefining seafood delivery and accessibility.

Fresh seafood holds the largest market share due to premium quality and consumer trust. However, processed seafood is the fastest-growing segment, offering scalability, longer shelf life, and strong appeal among urban, time-constrained consumers making it an attractive investment area.

Supermarkets and hypermarkets dominate due to broad product offerings and convenience. However, online platforms are growing rapidly, driven by consumer demand for doorstep delivery, preserved freshness, and flexible purchase options especially in urban and millennial demographics.