Seafood Market Size to Exceed USD 781.93 Billion by 2034, Driven by Rising Health-Conscious Consumption | Towards FnB
According to Towards FnB, the global seafood market size is calculated USD 397.74 billion in 2025 and is forecasted to hit around USD 781.93 billion by 2034, expanding at a CAGR of 7.8% during the forecast period from 2025 to 2034. This growth is fueled by rising health consciousness, high demand for protein-rich diets, and advancements in aquaculture.
Ottawa, Sept. 23, 2025 (GLOBE NEWSWIRE) -- The global seafood market size stood at USD 368.96 billion in 2024 and is anticipated to increase from USD 397.74 billion in 2025 to around USD 781.93 billion by 2034, at a CAGR of 7.8% from 2025 to 2034, according to study published by Towards FnB, a sister firm of Precedence Research.
High demand for high-quality protein found in seafood and other forms of meat is one of the major factors for the growth of the seafood market. Growing health consciousness and advancements in aquaculture are other major factors for the growth of the market.
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Rising Health Consciousness Leading to High Demand for Seafood
Consumer awareness regarding health and food habits is one of the major factors for the growth of the seafood market globally. Seafood is a clean, high-source of protein along with various other essential nutrients. Rising disposable income, high demand for protein-rich diets, and changing consumer diets and habits are also major factors for the growth of the market in the region. The growing population of pescatarians, i.e., those who avoid meat but consume fish, is another major factor for the growth of the seafood market. Growing sustainable aquaculture fields is another key factor driving market growth. It helps to enhance aquaculture without hampering the environment’s balance, which is helpful for the market’s growth.
Seafood is no longer just a staple protein, it’s becoming the preferred healthy choice for consumers worldwide, said Vidyesh Swar, Principal Consultant at Towards FnB.
Key Highlights of the Seafood Market
- By region, the Asia Pacific dominated the seafood market in 2024, whereas Europe is expected to grow in the expected timeframe.
- By type, the fish segment led the seafood market in 2024, whereas the crustacean’s segment is expected to grow in the foreseeable period.
- By form, the fresh segment led the seafood market in 2024, whereas the processed segment is expected to grow in the foreseeable period.
- By distribution channel, the supermarket and hypermarkets segment led the seafood market in 2024, whereas the online retail segment is expected to grow in the forecast period.
New Trends in the Seafood Market
- The growing aquaculture globally is one of the major factors for the growth of the seafood market. The market is also observing growth due to improved and advanced technologies helpful for hatchery methods that farm seafood such as salmon, tilapia, shrimp, and various other forms of seafood.
- The market is also observing growth due to high demand for protein. Seafood is also a rich source of omega-3 fatty acids, essential for skin, hair, and brain health. Hence, the presence of such essential elements also helps the growth of the market.
- High demand for convenient and ready-to-eat food options is another major factor for the growth of the market. Hectic schedules of consumers not allowing them to cook meals are leading to the growth of the market. Hence, ready-to-eat and frozen seafood packages are leading the growth of the market.
- High transparency in the supply chain market for seafood in the form of digital tracking and blocking management is another major factor for the growth of the seafood market.
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Recent Developments in the Seafood Market
- In September 2025, Young's Seafood, a UK-based company, released a new-value-focused Jumbo Fish Special under its Young’s Chip Shop brand in Grimsby. The primary objective of the launch is to target UK consumers, driven by grocery inflation. (Source- https://www.seafoodsource.com)
- In September 2025, Orion Corp., a South Korean confectionery company, announced that it would form a joint venture with South Korea’s National Federation of Fisheries Cooperatives (NFFC) to globalize domestic seafood products, including seaweed, in its first full-scale push into the sector. (Source- https://pulse.mk.co.kr)
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In July 2025, Mowi ASA announced a USD 200 million investment to expand its sustainable salmon farming operations in Norway, focusing on eco-friendly aquaculture practices to meet surging European demand.
Top Products in the Seafood Market
| Product Type | Key Features / Attributes | Market Importance / Benefits | Example Applications |
| Fish (Fresh, Frozen, Canned) | Includes species like salmon, tuna, cod, haddock, and mackerel; available in multiple formats | Largest share of seafood market; high protein, omega-3, versatile formats | Fresh fillets, frozen fish portions, canned tuna/salmon, fish sticks |
| Shellfish (Shrimp, Prawns, Crab, Lobster) | Crustaceans available fresh, frozen, or processed; premium positioning | High demand globally; valued for flavor, premium dining, export revenue | Shrimp cocktails, crab cakes, lobster tails, frozen shrimp packs |
| Mollusks (Clams, Mussels, Oysters, Squid, Octopus) | Available whole, shucked, or value-added; often sold frozen or chilled | Growing popularity due to high protein, iron, and zinc content | Paella, seafood pasta, fried calamari, canned mussels |
| Processed & Value-added Seafood | Ready-to-cook or ready-to-eat seafood, marinated, breaded, smoked, or canned | Rising due to convenience, longer shelf life, and urban demand | Smoked salmon, breaded shrimp, fish patties, canned sardines |
| Aquaculture-raised Seafood | Farmed fish and shellfish (salmon, tilapia, pangasius, carp) | Expands supply to meet global demand; consistent quality, sustainable production | Farm-raised salmon fillets, tilapia portions, pangasius fillets |
| Cephalopods (Squid, Octopus, Cuttlefish) | Marine species rich in protein and minerals; available fresh, frozen, dried | Popular in Asia & Mediterranean markets; used in gourmet and traditional dishes | Grilled octopus, dried squid snacks, stuffed cuttlefish |
| Canned Seafood | Shelf-stable fish and shellfish, often packed in oil, brine, or sauces | Convenience, affordability, and long shelf life, key for exports | Canned tuna, sardines, anchovies, crab meat |
| Ready-to-Eat (RTE) Seafood Meals | Frozen or chilled prepared meals with seafood as the main protein | Aligns with the convenience food trend, urban, busy lifestyles | Frozen seafood pasta, seafood chowder bowls, microwave-ready meals |
| Specialty & Exotic Seafood | Includes sea cucumbers, eels, roe/caviar, and premium niche species | Niche luxury segment with high margins; strong in Asia, the Middle East, and Europe | Caviar, eel sushi, sea cucumber soups |
Market Dynamics
What are the Growth Drivers of the Seafood Market?
Growing demand for high-quality protein sources, essential vitamins and minerals, and various other essentials for the body are the major drivers for the growth of the seafood market. Rising consumer awareness of a healthy diet and nutrition, protein-rich diet, and high demand for convenient food options also help the growth of the market. Hence, consumers today prefer convenient, frozen, and ready-to-eat seafood options that take less preparation time and allow consumers to save time, along with gorging on nutrition as well. Technological advancements in growing aquaculture are another helpful factor for the growth of the market in the region. Sustainable and technological advancements also aid the market’s growth.
Challenge
High Demand for Plant-Based Meat is obstructing the Market’s Growth
Growing sustainability and consumer awareness regarding the benefits of a plant-based diet may hamper the growth of the seafood market. A growing population of vegetarians and vegans is demanding a plant-based diet. There are multiple health benefits of such a diet, and hence they are further leading to the growth of plant-based meat options. Hence, such issues are a major factor that damages the market’s growth.
Opportunity
The Growing Population of pescatarians is helping the Growth of the Market
The growing pescatarian population is a major factor driving market growth. The population that avoids meat but prefers fish aids the market’s growth globally. Such a population is focused on consumption of high-protein sources, with essential amino acids, omega-3, vitamins, and minerals, through different types of seafood sources. Hence, such factors are expected to contribute to the market's growth in the forecast period.
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Seafood Market Regional Analysis
Asia Pacific dominated the Seafood Market in 2024
Asia Pacific led the seafood market in 2024 due to high demand for seafood in countries like China, India, Vietnam, Thailand, and Indonesia. Hence, such countries make a significant contribution to the regional market's growth. Robust aquaculture in the region, progressing due to technological advancements, is another major factor for the growth of the market in the region. The rising population of health-conscious consumers is also a major driving factor for the growth of the market in the region.
Europe is expected to grow in the Foreseen Period.
Rising consumer awareness of nutritious food for a healthy body among consumers from every age group is a major factor driving the market's growth in Europe in the foreseeable future. The growing working population in the region, in search of convenient and ready-to-cook nutritious meal options, is also contributing to the growth of frozen seafood options. Rising urbanization and growing demand for protein-rich and nutritious meal options are other major factors for the growth of the seafood market.
Scope of Seafood Market Report
| Report Attribute | Key Statistics |
| Base Year | 2024 |
| Forecast Period | 2025 to 2034 |
| Growth Rate from 2025 to 2034 | CAGR of 7.8% |
| Market Size in 2024 | USD 368.96 Billion |
| Market Size in 2025 | USD 397.74 Billion |
| Market Size by 2034 | USD 781.93 Billion |
| Dominated Region | Asia Pacific |
| Fastest Growing Region | Europe |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
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Seafood Market Segmental Analysis
Type Analysis
The fish segment dominated the seafood market in 2024 due to the availability of different types of fish and fish products in the region, helping the growth of the market. Fish is a rich source of protein, vitamins, minerals, omega-3 fatty acids, and amino acids, essential for the growth of the body. Hence, health-conscious consumers lead to higher demand for the same, aiding the market’s growth. Fish is also healthy for skin, brain, and hair health, and hence is also highly demanded globally, fueling the growth of the market.
The crustaceans segment is expected to grow in the forecast period due to the growing demand for protein-rich food options. The growing population of consumers avoiding meat but not fish is helping the market grow in the foreseeable future. Such consumers ensure to complete their protein intake along with other essential compounds such as vitamins, minerals, omega-3 fatty acids, and amino acids, which are helpful for the overall development of the body. Hence, the segment has helped the growth of the market in the foreseeable period.
Form Analysis
The fresh segment led the seafood market in 2024 due to high demand for fresh fish by consumers from different age groups. Fresh fish is full of nutrients helpful for cognitive development, along with multiple other health benefits. Fish stored simply for a few days loses its nutritional value. Hence, the segment helped in the growth of the market.
The processed segment is expected to grow in the forecast period due to the high demand for convenient and ready-to-eat food options to support busy lifestyles. It helps them to save time and also have nutritious food. The segment also helps the growth of the market in the forecast period due to the development of freezing technology, which is essential for enhancing the shelf life of seafood.
Distribution Channel Analysis
The supermarkets and hypermarkets dominated the seafood market in 2024 due to their easy availability in residential areas, allowing consumers to shop for different types of seafood products, fueling the growth of the market. Such places also allow consumers to have a look at a variety of seafood options and try different types of seafood under one roof. One can also get great discounts, helping the segment grow in the market.
The online retail segment is expected to grow in the foreseeable future due to high demand for such platforms, driven by their convenience factor. Technological advancements have compelled consumers today to shop for basic things from online platforms. It helps them to save their time along with managing their hectic schedules as well. Hence, the segment is observed to grow in the foreseen period. It also allows them to get different types of seafood options easily at great deals, further fueling the market’s growth.
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Top Companies in the Seafood Market
- Nippon Suisan Kaisha Ltd. (Japan) – Major Japanese seafood processor and distributor known for frozen, canned, and value-added fish products.
- Maruha Nichiro (Japan) – One of the world’s largest seafood companies, engaged in fishing, aquaculture, and global seafood processing.
- Mowi ASA (Norway) – The world’s leading producer of farmed salmon, with strong global distribution in fresh and processed seafood.
- Charoen Pokphand Foods Group (Thailand) – Diversified agri-food giant with significant aquaculture operations in shrimp and fish farming.
- Dongwon Group (South Korea) – Prominent seafood company recognized for tuna products and global fishing operations.
- Marubeni Corporation (Japan) – Trading conglomerate with a strong seafood division focused on imports, exports, and processing.
- Mitsubishi Corporation (Japan) – Engaged in seafood trading and processing, including stakes in global salmon and tuna operations.
- OUG Holdings (Japan) – Specializes in seafood wholesale, logistics, and distribution within Japan and international markets.
- Thai Union Group Public Company Limited (Thailand) – Global seafood leader best known for canned tuna brands like Chicken of the Sea and John West.
- Trident Seafoods Corporation (U.S.) – America’s largest vertically integrated seafood company, specializing in wild-caught Alaskan fish.
Segments Covered in the Report
By Type
- Fish
- Crustaceans
- Molluscs
- Others
By Form
- Fresh
- processed
By Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores & Specialty Stores
- Online Sales Channel
- Others
By Region
North America
- U.S.
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
Latin America
- Brazil
- Mexico
- Argentina
Middle East and Africa (MEA)
- South Africa
- UAE
- Saudi Arabia
- Kuwait
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