Fish and Seafood Market Report and Forecast 2024-2032

Global Fish and Seafood Market Report and Forecast 2024-2032

Market Outlook

According to the report the global fish and seafood market is projected to grow at a CAGR of 7.4% between 2024 and 2032 to reach a value of about USD 1149.19 billion by 2032. Aided by the rising health consciousness and the inherent nutritional benefits of fish and seafood, the market is expected to grow significantly by 2032.

Fish and seafood are prominent dietary staples across numerous cultures worldwide, revered not only for their delightful flavours but also for their abundant nutritional value. Rich in essential fatty acids, proteins, and a range of vitamins and minerals, they play a pivotal role in heart health, brain function, and overall physical well-being. The vast oceanic bounty includes staples like salmon, tuna, shrimp, crab, and mussels, each boasting unique taste profiles and health benefits.

One of the primary accelerants driving the global fish and seafood market growth is the escalating consumer inclination towards protein-rich diets. Amid the burgeoning awareness around the potential health hazards of red meats, many are turning to fish and seafood as a healthier, leaner protein alternative. This shift is bolstered by mounting scientific evidence underscoring the myriad health benefits associated with regular fish consumption, particularly fatty fish rich in omega-3 fatty acids.

According to the fish and seafood market analysis, the global culinary scene has witnessed a surge in pescatarianism, with more individuals choosing to exclude meats but include fish in their diets. Such dietary trends, often motivated by health or environmental concerns, further accentuate the demand curve for fish and seafood.

The versatility of fish and seafood in gastronomy has led to its incorporation in various dishes, from appetisers to main courses which in turn has escalated the fish and seafood market demand. Sushi, a global sensation, epitomises the world's love affair with seafood. Apart from traditional cuisines, there's a growing trend of fusion dishes, wherein chefs seamlessly blend the flavours of the sea with other global culinary elements.

However, it's not just the kitchen where fish and seafood have marked their significance. In the cosmetic industry, marine collagen, derived predominantly from fish, is celebrated for its skin rejuvenation properties. Moreover, fish oil capsules, rich in omega-3s, have carved a niche in the nutraceutical sector, further expanding the market's horizons.

Market Segmentation

The market can be divided based on type, product, and region.

Market Breakup by Type

• Molluscs
• Crustaceans
• Fishes
• Others

Market Breakup by Product

• Fresh Fish and Seafood
• Canned Fish and Seafood
• Frozen Fish and Seafood
• Other Fish and Seafood

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global fish and seafood market. Some of the major players explored in the report are as follows:

• High Liner Foods Incorporated
• Lyons Seafoods Co.
• Maruha Nichiro Corporation
• Thai Union Group PCL
• Trident Seafoods Corporation
• Pacific Seafood
• Others