IMARC Group has recently released a new research study titled “Seafood Market Size, Share, Trends and Forecast by Type, Form, Distribution Channel, and Region, 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global seafood market size was valued at USD 370.23 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 493.29 Billion by 2033, exhibiting a CAGR of 3.08% from 2025-2033. Asia-Pacific currently dominates the market, holding a market share of over 44.6% in 2024. The seafood market share is expanding, driven by the growing adoption of balanced diets, rising awareness about the benefits of protein consumption, and the increasing utilization of seafood in fine diners, restaurants, and fast food product chains.
Global Seafood Market Trends:
The increasing consumer awareness of alternative protein sources, with seafood emerging as a sustainable and environmentally friendly option is providing an impetus to the market growth. Moreover, the rise in popularity of seafood-based diets, driven by health and wellness trends, is creating a positive outlook for market expansion. In addition to this, the growing emphasis on food safety and traceability, prompting consumers to seek out transparent and reliable seafood sources is acting as another significant growth-inducing factor. Furthermore, the globalization of trade and improved transportation infrastructure facilitating easier access to a wider variety of seafood products are fostering market expansion.
Factors Affecting the Growth of the Seafood Industry:
Evolving consumer preferences and trends:
Consumer preferences and trends play a significant role in driving the seafood market. As people become more health conscious and aware of the nutritional benefits of seafood, there is a growing demand for it. Seafood is often perceived as a healthier protein option compared to red meat, thanks to its lower fat content and higher levels of essential nutrients such as omega-3 fatty acids. Additionally, with the rise of culinary diversity and globalization, there's an increasing appreciation for various seafood dishes from around the world, further contributing to the market growth.
Escalating sustainability concerns:
Overfishing, habitat destruction, and environmental degradation have raised alarms about the long-term viability of seafood resources. Consumers, governments, and industry stakeholders are increasingly demanding sustainable fishing and aquaculture practices to ensure the health of marine ecosystems and the continuity of seafood supply. Certification programs such as the Marine Stewardship Council (MSC) and Aquaculture Stewardship Council (ASC) have gained prominence, providing assurance to consumers that seafood products meet certain sustainability standards. As a result, companies in the seafood industry are also investing in sustainability initiatives to reduce their environmental footprint and secure their supply chains for the future, thereby aiding in market expansion.
Significant advancements in technology and aquaculture practices:
Ongoing advancements in technology and aquaculture practices are driving innovation and growth in the seafood market. Aquaculture, or fish farming, has become an increasingly important source of seafood production, supplementing wild-caught fisheries. Improvements in aquaculture technology have enhanced efficiency, productivity, and environmental sustainability, enabling the cultivation of a wider range of species in various environments. This has led to increased availability and diversity of seafood products in the market. Furthermore, technological innovations in seafood processing, packaging, and distribution have extended the shelf life of seafood products, bolstering the market growth.
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Seafood Market Report Segmentation:
By Type:
- Fish
- Shrimps
- Others
Fish dominated the market due to its widespread availability, diverse species, and integral role in global dietary preferences.
By Form:
- Fresh/Chilled
- Frozen/Canned
- Processed
Fresh/chilled seafood is preferred for its superior flavor and nutritional quality, making it a popular choice among consumers seeking health benefits associated with fresh food.
By Distribution Channel:
- Off Trade
- On Trade
Off trade represented the largest segment as these outlets offer consumers a wide variety of seafood products in one convenient location.
Regional Insights:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Asia Pacific's dominance in the seafood market is attributed to its high population density, strong cultural affinity for seafood, and the presence of large coastal communities that rely heavily on seafood for their dietary needs.
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Key Companies:
- American Seafoods Company LLC
- Cermaq Group AS (Mitsubishi Corporation)
- Grieg Seafood
- Kangamiut Seafood A/S
- Lee Fishing Company
- Maruha Nichiro Corporation
- Mowi ASA
- Pacific Seafood
- Phillips Foods Inc.
- Royal Greenland A/S
- Sysco Corporation
- Thai Union Group PCL
- Trident Seafoods Corporation
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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