Seafood Market By Type (Fish, Shellfish, Crustaceans), By Product Form (Fresh, Frozen, Canned, Smoked), By Distribution Channel (Retail, Food Service, Online Sales), By Application (Human Consumption, Animal Feed), By End-User (Retail Consumers, Restaurants, Food Manufacturers); Global Insights & Forecast (2024 - 2030)

As per Intent Market Research, the Seafood Market was valued at USD 153.7 Billion in 2024-e and will surpass USD 208.7 Billion by 2030; growing at a CAGR of 5.2% during 2025 - 2030.

The global seafood market is witnessing robust growth, driven by rising health-consciousness among consumers who are increasingly incorporating seafood into their diets due to its high nutritional value, particularly its rich content of omega-3 fatty acids, vitamins, and minerals. As a protein-rich alternative to meat, seafood is gaining popularity, and its consumption is being influenced by factors such as increasing awareness of sustainability, the availability of diverse seafood products, and evolving culinary preferences. The growing demand for seafood is further fueled by urbanization, a shift toward healthier eating habits, and a growing global population that requires a sustainable source of protein. With advancements in aquaculture and seafood production technologies, the market is expected to maintain its upward trajectory, offering a variety of products to cater to diverse consumer needs.

Among the various types of seafood, fish holds the largest share of the market, primarily due to its broad consumer appeal and versatility in various cuisines. Fish, including popular species like salmon, tuna, and cod, is widely consumed in both developed and emerging markets. Its ease of availability, coupled with its adaptability to various cooking methods such as grilling, frying, or baking, makes it a staple in many households. Fish is also considered a healthier option compared to red meat, which has driven its widespread consumption, particularly in the health-conscious demographic. As fish consumption continues to grow, particularly in regions where seafood is a key part of the diet, this segment is expected to maintain dominance in the seafood market.

Fish Segment Dominates the Seafood Market Due to Versatility and Popularity

The fish segment dominates the seafood market due to its widespread popularity and versatility in culinary applications. Fish is not only a critical source of protein but also a preferred choice for consumers seeking to incorporate healthy fats into their diet. Additionally, fish is available in a wide variety of forms such as fresh, frozen, canned, and smoked, catering to different consumer preferences and requirements. The diversity in product forms enhances the accessibility of fish across different markets, making it suitable for both everyday consumption and gourmet preparations.

Fish consumption is particularly prevalent in North America, Europe, and Asia-Pacific, with consumers embracing it for its health benefits and convenience. The demand for fish products is expected to grow steadily as consumers become more aware of the dietary advantages of fish, such as its low-fat content and essential nutrients like protein and omega-3 fatty acids. Moreover, the increasing availability of value-added fish products, including smoked and canned options, is further driving the market's growth. As the fish segment continues to thrive, it will remain the largest and fastest-growing category in the global seafood market.

Frozen Seafood Continues to Gain Popularity Due to Convenience and Long Shelf Life

Frozen seafood is expected to continue growing in popularity due to its convenience, long shelf life, and ease of storage. Freezing is one of the most common preservation methods used for seafood, allowing it to be transported across long distances without compromising on quality. As consumers seek more convenient options that align with busy lifestyles, frozen seafood provides an ideal solution for preserving seafood's freshness while ensuring it is available year-round. The growing demand for frozen seafood is particularly prominent in regions where fresh seafood is less readily available, and where the preference for quick and easy meal options is increasing.

Frozen seafood also provides a longer shelf life compared to fresh products, making it an attractive option for both consumers and food service operators. With the rise of frozen fish, shellfish, and crustacean products, the frozen segment is poised to witness strong growth, driven by both retail consumers and food manufacturers. As frozen seafood products continue to meet the convenience and affordability needs of consumers, this segment is expected to remain one of the largest and fastest-growing within the broader seafood market.

Retail Sales Lead the Distribution Channels as Consumer Preferences Shift to Convenience

The retail distribution channel is leading the seafood market due to its convenience and accessibility for consumers. Supermarkets, grocery stores, and online platforms are increasingly becoming the go-to sources for seafood, as consumers prefer to purchase their seafood from easily accessible retail outlets. The rise of modern grocery stores, supermarkets, and online sales platforms has made it easier for consumers to find a wide variety of seafood products, from fresh fish to frozen shrimp, all in one place. Additionally, the growth of e-commerce has further boosted the retail sector, with consumers now able to order seafood products from the comfort of their homes.

As retail channels continue to expand and evolve, they are becoming increasingly important in reaching a broader consumer base, particularly as preferences shift towards purchasing convenient, ready-to-cook seafood products. This shift towards retail sales is expected to sustain its dominant position in the seafood market, especially with the growing trend of home-cooking and the increasing demand for ready-to-cook seafood options that save time and effort.

Asia-Pacific to Lead the Global Seafood Market as the Largest Consumer and Producer

The Asia-Pacific region is expected to remain the largest consumer and producer of seafood globally, driven by both demand and supply-side factors. With countries such as China, Japan, and India being major seafood consumers, the region's preference for seafood-based diets is deeply rooted in cultural practices. Additionally, Asia-Pacific is home to some of the largest seafood producers in the world, particularly in terms of fish and aquaculture, making the region a significant player in the global seafood trade. The expanding middle class, increased disposable income, and greater awareness of health benefits are further driving the demand for seafood in the region.

Furthermore, the growing demand for high-quality seafood, coupled with government support for sustainable fishing practices and aquaculture, is expected to bolster the seafood market in Asia-Pacific. As more people turn to seafood for its health benefits and sustainability, the region is poised to maintain its dominant position in the market. The development of advanced seafood processing technologies and the growth of retail and e-commerce platforms are also expected to contribute to the region's continued market leadership.

Competitive Landscape and Key Players in the Seafood Market

The seafood market is highly competitive, with a mix of global and regional players dominating different segments. Leading companies in the market include Marine Harvest, Thai Union Group, Dongwon Industries, and Avanti Feeds, which are prominent players in the seafood production and distribution sectors. These companies have been investing heavily in sustainable fishing practices, seafood processing technologies, and expanding their product portfolios to cater to the growing demand for different types of seafood. Furthermore, partnerships and collaborations within the seafood industry are becoming more common as companies seek to leverage each other’s strengths in technology, distribution, and product innovation.

The competitive landscape in the seafood market is also influenced by the increasing focus on sustainability and the growing emphasis on traceability in the supply chain. As consumers become more aware of environmental concerns related to overfishing and unsustainable practices, leading companies are focusing on sourcing seafood responsibly and adhering to global sustainability standards. Additionally, the rise of e-commerce platforms and direct-to-consumer sales channels is reshaping the competitive dynamics, as more companies tap into the online market to expand their reach and meet evolving consumer preferences.

List of Leading Companies:

• Maruha Nichiro Corporation
• Nippon Suisan Kaisha, Ltd.
• Thai Union Group
• Mowi ASA
• Dongwon Industries Co., Ltd.
• Rich Products Corporation
• Brunswick Corporation
• Surapon Foods Public Co., Ltd.
• American Seafoods Company LLC
• Sajo Group
• High Liner Foods Inc.
• Pescanova
• Clarion Brands, Inc.
• Princess Anne Seafood
• Loblaw Companies Limited

Recent Developments:

• Thai Union Group launched a new line of sustainable seafood products aimed at the growing health-conscious consumer market in January 2025.
• Mowi ASA unveiled a new processing plant in Norway for premium salmon products in December 2024.
• Dongwon Industries Co., Ltd. expanded its global distribution network for frozen seafood products in November 2024.
• High Liner Foods Inc. introduced a new range of seafood snack products aimed at the retail market in October 2024.
• American Seafoods Company LLC acquired a seafood processing facility in Alaska to expand its production capacity in September 2024.

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