Seafood Market Set to Hit USD 780.2 Billion by 2030 Amid Growing Demand for Sustainable and Farm-Raised Seafood

 The global seafood market size is estimated at USD 730.9 billion in 2025 and is projected to reach USD 780.2 billion by 2030, expanding at a CAGR of 1.31%. The market is witnessing a transformation driven by rising health awareness, technological advancements in aquaculture, and increasing consumer preference for sustainable and traceable seafood products. This growth trajectory is supported by evolving consumption patterns and robust investments in processing infrastructure globally.

Get More Insights: https://www.mordorintelligence.com/industry-reports/global-seafood-market 

Seafood Market Key Trends

Growing Consumer Focus on Health and Nutrition

The seafood market is benefiting from increasing consumer awareness about the health benefits of seafood, particularly its rich omega-3 fatty acid content. Fish remains the dominant segment, commanding approximately 64% market share in 2024. Salmon and tuna continue to gain popularity for their nutritional profiles. In Iceland, per capita seafood consumption reached 91 kg annually in 2023, underscoring high demand in developed markets. Rising consumption of fish as a healthy protein source supports the seafood market size across regions.

Technological Advancements in Aquaculture

The aquaculture sector is undergoing rapid innovation, enhancing productivity and sustainability. For instance, China’s state-owned corporations initiated the construction of a 100,000-ton offshore aquaculture platform in the Yellow Sea in 2022. Such investments integrate satellite tracking, automated feeding systems, and environmental monitoring, addressing disease management challenges and reducing ecological footprints. Asia-Pacific, led by China, continues to drive global aquaculture production growth, strengthening the seafood market share in the region.

Sustainability and Traceability Shape Market Dynamics

With 94% of EU consumers considering environmental protection essential in 2023, the seafood market is adapting rapidly. Certification programs and traceability systems are now standard across processing and distribution chains. Companies are adopting sustainable fishing methods and eco-friendly aquaculture practices to align with regulatory expectations and consumer demands, enhancing their position in the global seafood market size rankings.

Seafood Market Segmentation

By Type

  • Fish Segment: Maintains leadership with 64% share of the seafood market in 2024. Growth is driven by affordability, widespread availability, and consumer recognition of fish as a nutrient-dense protein.
  • Shrimp Segment: Expected to grow at approximately 1.5% CAGR through 2029. Expansion is supported by sustainable shrimp farming, with aquaculture accounting for 55% of global shrimp production.
  • Other Seafood: Includes crabs, lobsters, scallops, and Alaska pollock, catering to premium and specialty segments, particularly in high-end foodservice markets.

By Form

  • Frozen Seafood: Dominates with 42.5% market share in 2024, supported by efficient cold chains and year-round availability across modern retail channels.
  • Processed Seafood: Projected to exhibit the strongest growth at ~2% CAGR through 2029. Ready-to-eat and ready-to-cook products are gaining popularity among urban consumers for their convenience.
  • Fresh/Chilled and Canned Segments: Maintain relevance in traditional markets, offering consumers quality assurance and long shelf-life options, respectively.

By Distribution Channel

  • Off-Trade: Remains the leading channel, holding ~60% of seafood market share in 2024, driven by supermarkets, hypermarkets, and specialty retailers.
  • Online Retail: Growing rapidly at an anticipated 6% CAGR to 2029, fueled by e-commerce penetration, improved cold chain logistics, and consumer demand for doorstep seafood delivery.
  • On-Trade: Comprising restaurants, hotels, and catering services, continues to drive premium seafood consumption globally, introducing consumers to diverse seafood varieties.

Seafood Market Regional Analysis

Asia-Pacific: Largest Regional Market

The Asia-Pacific region leads the global seafood market size, driven by strong aquaculture sectors in China, Indonesia, Japan, and India. China alone holds ~50% of Asia-Pacific market share in 2024, supported by offshore aquaculture advancements and robust consumer demand. Australia emerges as the fastest-growing market in the region, driven by preferences for sustainable, locally sourced seafood products.

Europe: Strong Sustainability Focus

Europe remains a net seafood importer with a strong emphasis on certified sustainable sourcing. France leads the regional market, with half its population consuming seafood at least once or twice weekly. The Netherlands is the fastest-growing market, with consumers viewing fish as a fresh, healthy alternative to red meat.

North America: Steady Growth with Premiumisation

The North America seafood market size benefits from health-driven campaigns like “Eat Seafood America.” The United States leads regional consumption, while Canada experiences rapid growth, particularly in processed and label-friendly seafood products.

Africa: Growth Potential with Nigeria as Regional Leader

Nigeria dominates the African seafood market, holding ~70% share in 2024, driven by its aquaculture sector, which accounts for 52% of Sub-Saharan farmed fish production. Despite capability gaps, Nigeria is projected to grow at ~3% CAGR through 2029, supported by government initiatives promoting aquaculture development and fish feed improvements.

South America and Middle East: Emerging Opportunities

Brazil leads South America’s seafood market, leveraging its coastline and growing aquaculture production, while Argentina shows strong potential driven by frozen seafood demand. The Middle East market is led by the UAE, with Bahrain emerging as the fastest-growing market due to government fish farming initiatives enhancing food security.

Seafood Market Drivers

  • Health and Nutrition Awareness: Rising recognition of seafood’s nutritional value continues to drive market expansion globally.
  • Aquaculture Innovations: Investments in offshore farming, automated feeding, and AI-based monitoring enhance production efficiency and market resilience.
  • Sustainability Certifications: Increasing consumer demand for certified seafood products fosters market credibility and strengthens seafood market share for compliant producers.

Seafood Market Restraints

  • Rising Fish Prices: Unusual weather patterns, fuel price hikes, and geopolitical tensions have pushed seafood prices upward, affecting affordability in certain markets.
  • Supply Chain Disruptions: Restrictions on Russian seafood exports impacted EU supply chains, while Asian production faces disease outbreak challenges.
  • Environmental Concerns: Balancing aquaculture growth with ecological sustainability remains a critical challenge for industry stakeholders.

Get More Insights: https://www.mordorintelligence.com/ja/industry-reports/global-seafood-market

Seafood Market Competitive Landscape

The global seafood market remains fragmented, with strong regional players and multinational corporations competing across segments. Leading companies include:

  • Austevoll Seafood ASA
  • Maruha Nichiro Corporation
  • Nippon Suisan Kaisha Ltd
  • Sysco Corporation
  • Thai Union Group PCL

These companies are investing in sustainable aquaculture, AI-driven production technologies, and value-added product innovations to maintain competitive advantages. Strategic acquisitions and vertical integration remain key strategies to expand market size and ensure supply chain stability.

Conclusion

The seafood market size is projected to reach USD 780.2 billion by 2030, driven by technological innovations in aquaculture, rising health-conscious consumption, and sustainable sourcing trends. Companies that integrate traceability, sustainability, and consumer-focused product development will strengthen their market share and shape the future of the seafood industry.

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