Seafood Market to Reach US$667.27 Mn by 2032 | Growth Driven by Health Trends & Aquaculture Demand

The global seafood market continues to gain significant momentum driven by evolving dietary preferences, rising protein consumption, and increasing focus on healthy and sustainable food sources. According to industry estimates, the global seafood market size is likely to be valued at US$456.58 million in 2025 and is projected to reach US$667.27 million by 2032. The market is expected to expand at a notable CAGR of 5.6% during the forecast period from 2025 to 2032, reflecting strong demand across both developed and emerging economies.

Growing consumer awareness regarding the nutritional benefits of seafood, such as high-quality protein, omega-3 fatty acids, and essential vitamins, continues to drive market expansion. Meanwhile, the proliferation of aquaculture practices, advanced seafood processing technologies, and increasing availability of packaged seafood products is fostering additional growth. Rapid urbanization, rising disposable incomes, and the fast-growing foodservice sector are further augmenting the consumption of seafood across global markets.

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Which type of seafood is most preferred globally for regular consumption?

Fish remains the most preferred and widely consumed seafood category worldwide due to its affordability, availability, and diverse culinary applications, making it a staple in both household and commercial food sectors.

Is sustainability influencing seafood purchasing decisions?
Yes, sustainability has become a key factor, with consumers and companies increasingly prioritizing responsibly sourced seafood to support marine ecosystems and meet regulatory compliance requirements.

Segmentation Analysis

By Product Type
The global seafood market is segmented into fish, crustaceans, mollusca, and other minor categories. Among these, fish represents the dominant segment due to strong consumer affinity and a vast variety of fish species available across global regions for both fresh and processed consumption. Crustaceans such as shrimp, prawns, crabs, and lobsters are also witnessing notable growth impulses, particularly driven by premium dining and high-value exports.

Mollusca, including squid, octopus, and bivalves, is gaining traction in niche cuisines and emerging food markets such as Southeast Asia. The others category comprises less extensively consumed marine and freshwater species yet contributes significantly in coastal nations with localized consumption habits. Advancements in aquaculture and improved logistics infrastructure are anticipated to support sizeable growth across all product categories during the forecast period.

By End-use
The market is further segmented into household/retail, food processing, foodservice, fishmeal & fish oil, and others. Household and retail consumption represent the largest share, propelled by increased availability of frozen, canned, and ready-to-cook seafood products. Consumer interest in at-home cooking and access to international cuisines through digital media are key drivers of retail demand.

The foodservice sector is projected to witness accelerated growth due to the expansion of restaurants, quick-service chains, and seafood-centered dining outlets. Meanwhile, fishmeal and fish oil remain vital industrial end-use applications, especially for livestock nutrition, aquaculture feed, and nutraceutical supplements given the rising emphasis on omega-3-rich products.

By Distribution Channel
Seafood distribution is classified into B2B and B2C channels, including hypermarkets/supermarkets, traditional fish markets, specialty seafood stores, online retail, and others. The traditional fish market continues to hold a strong position, particularly in Asia-Pacific and coastal nations where daily fresh supply is preferred.

Hypermarkets and supermarkets remain the primary organized retail channels, supported by wide product availability and cold chain facilities. Specialty seafood stores are gaining popularity among consumers looking for premium quality and exotic species. Notably, online retail is emerging as the fastest growth channel in the market due to the rising adoption of e-commerce, doorstep delivery convenience, and integration of temperature-controlled logistics ensuring freshness and product quality.

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Regional Insights

Asia-Pacific remains the leading regional market, contributing a substantial share of global seafood production and consumption. Countries such as China, Japan, India, Indonesia, and Vietnam play a key role due to rich marine resources, strong aquaculture capacity, and seafood-centered dietary traditions. The region's rapidly growing population, expanding middle class, and increasing export activities continue to fuel regional market dominance.

Europe represents another key market with strong demand for fish and crustaceans driven by high nutritional awareness and established seafood supply networks. Northern European nations particularly stand out for their advanced aquaculture systems and strong awareness toward sustainably sourced seafood.

North America is witnessing steady growth due to rising health consciousness and the increasing penetration of ready-to-eat seafood offerings in retail channels. Meanwhile, the Middle East & Africa region is expected to exhibit the fastest growth during the forecast period. Expanding cold chain infrastructure, increasing seafood imports, and diversification of protein consumption patterns are likely to support strong future demand in these regions.

Unique Features and Innovations in the Market

The global seafood sector is undergoing rapid modernization with the integration of advanced processing, packaging, and sustainability technologies. Innovations in aquaculture, including recirculating aquaculture systems (RAS), smart water quality monitoring, and breeding technologies are enhancing productivity and reducing environmental impact. Technologies such as AI and IoT are being incorporated for predictive health monitoring of farmed species, real-time traceability, and improved feed efficiency.

Digital traceability systems and blockchain solutions are transforming supply chain transparency, ensuring that consumers have access to verified information about the origin and sustainability of seafood products. Improved freezing and vacuum-sealing technologies are extending shelf life while preserving nutritional integrity. Many seafood companies are focusing on eco-friendly packaging to align with global sustainability standards and consumer environmental expectations.

Market Highlights

Growing focus on healthy lifestyles, combined with increasing awareness of the health benefits of seafood, continues to support market growth across diverse demographic groups. Government initiatives encouraging sustainable fishing, ocean preservation, and aquaculture expansion are expected to play a significant role in shaping industry dynamics.

Retailers and foodservice chains are increasingly incorporating seafood offerings into menus and shelf assortments due to rising consumer preference for natural and protein-rich diets. Additionally, export growth from regions such as Asia-Pacific is contributing to global trade expansion. Rising adoption of automation in processing operations is helping manufacturers address labor shortages, improve safety standards, and reduce operational costs.

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Key Players

Mowi ASA
Maruha Nichiro
Nissui (Nippon Suisan)
Thai Union Group
Trident Seafoods
Cooke Inc.
Lerøy Seafood Group ASA
Pacific Seafood
Austevoll Seafood ASA
Nueva Pescanova
Others

Competitive Landscape

Major companies in the global seafood market are focusing on strategic expansions, acquisitions, partnerships, and innovations in aquaculture technology to strengthen their market position. Mowi ASA continues to expand its aquaculture infrastructure and sustainable certification initiatives. Maruha Nichiro and Nissui (Nippon Suisan) are investing in advanced seafood processing capabilities and expanding product portfolios internationally.

Thai Union Group is enhancing its global footprint through strong brand positioning, sustainability programs, and a vertically integrated supply chain. Trident Seafoods and Pacific Seafood focus on North American market consolidation and improved harvesting efficiency. Cooke Inc. and Lerøy Seafood Group ASA are leveraging technological innovations for productivity enhancement and quality assurance across aquaculture operations.

Nueva Pescanova is accelerating its global distribution channels and pioneering sustainable practices to improve traceability and compliance with international regulatory standards. Many players are strongly committed to circular economy approaches, minimizing waste and adopting renewable energy systems in production units.

Outlook

The seafood market is set to witness considerable expansion as supply chains evolve and sustainability remains at the forefront of consumer and regulatory priorities. Advanced aquaculture methods, digital transformation in seafood processing, and increasing emphasis on food safety and traceability are expected to unlock new growth opportunities for stakeholders.

Growing investment in cold chain logistics, expansion of online retail platforms, and the rising popularity of convenient seafood products are expected to further strengthen market penetration. Evolving regulatory frameworks and responsible fishing programs will continue to influence procurement and trade practices globally. As companies adopt innovative production and distribution models, they are expected to achieve significant competitive advantages in high-growth regions.

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