June 2025
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.
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 |
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.
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.
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.
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.
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.
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-3, fatty 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.
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.
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.
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