Fresh Fish & Seafood Market by Product (Cephalopods, Crustaceans, Flatfish), Application (Commercial, Residential), Distribution Channel - Global Forecast 2024-2030

Fresh Fish & Seafood Market by Product (Cephalopods, Crustaceans, Flatfish), Application (Commercial, Residential), Distribution Channel - Global Forecast 2024-2030

The Fresh Fish & Seafood Market size was estimated at USD 266.29 billion in 2023 and expected to reach USD 282.05 billion in 2024, at a CAGR 6.07% to reach USD 402.33 billion by 2030.

Fresh fish and seafood refer to aquatic animals that have been recently caught & harvested from their natural and farmed environments and have not undergone any preservation processes such as freezing, canning, and smoking. This category primarily includes a wide variety of species, such as fish, crustaceans, mollusks, and other edible marine creatures. Freshness is a critical quality determinant in fish and seafood, significantly impacting flavor, texture, and nutritional value. Rising consumer consciousness about the health benefits of fish and seafood, such as high omega-3 fatty acids and lean protein content, drives demand. However, ensuring freshness and quality from catch to consumer requires sophisticated and expensive logistics, especially for landlocked areas that impede market growth. Furthermore, navigating and complying with regional and international regulations on fishing practices and seafood trade can be challenging for market players. Moreover, developing online sales channels can tap into the increasing consumer preference for convenience and home delivery. The introduction of marinated, pre-cut, and ready-to-cook seafood options may attract time-constrained customers seeking convenience without compromising on freshness, generating growth potential in the market.

Regional Insights



In the Americas, particularly in the United States and Canada, consumer trends lean towards sustainably sourced and organic seafood products. The Americas region has witnessed a gradual but steady increase in per capita seafood consumption, driven by a growing awareness of seafood's health benefits. The U.S. market has seen a notable push towards transparency in seafood sourcing and sustainability. Initiatives such as traceability programs and eco-labeling have gained traction, influencing consumer purchasing decisions towards more sustainable options. The EMEA region presents a diverse picture, with European countries leading in consumption per capita, stringent regulation, and high demand for certified sustainable products. The Middle East shows growing interest in luxury seafood products, driven by rising disposable incomes and hospitality industry growth. Africa's market is characterized by its reliance on fish as a dietary staple, focusing on improving local aquaculture to reduce import dependency. The Asia Pacific region, notably dominated by countries such as China, Japan, and India, stands as the major consumer of fresh fish and seafood. Traditional diets rich in fish, coupled with rising incomes and evolving consumer preferences, have stimulated demand in the APAC region. In China, government initiatives aiming to boost responsible aquaculture have received significant investment. Japan, known for its fishing tradition, innovates in seafood preservation technologies. India's market is characterized by a strong preference for fresh over frozen seafood, influenced by cultural and culinary practices.

Market Insights



Market Dynamics



The market dynamics represent an ever-changing landscape of the Fresh Fish & Seafood Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers


Increasing consumer awareness towards health beneficial properties of fresh seafood products
Government initiatives & investment for aquaculture industry
Growing emphasis on sustainable & smart fish farming practices

Market Restraints


Concern associated with ensuring product freshness and quality

Market Opportunities


Advancements in refrigeration and packaging technologies
Introduction of marinated, pre-cut, and ready-to-cook seafood products

Market Challenges


Challenges associated regional and international regulations on fishing practices and seafood trade

Market Segmentation Analysis


Product: Emerging shift toward fresh shrimp products for their unique flavors and textures
Application: Growing demand for fresh fish & seafood products in commercial segment

Market Disruption Analysis


Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix



The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Fresh Fish & Seafood Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis



The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Fresh Fish & Seafood Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments




Fish and Seafood Tech Startup Captain Fresh Secures USD 25 M in Extended Series C Round

Captain Fresh, a fish and seafood technology startup, has secured USD 25 million in its latest Series C funding round extension. This financial infusion comes courtesy of contributions from the esteemed Nekkanti Seafoods Group, the United Kingdom's development finance institution, British International Investment (BII), and various influential family offices.


Nordic Acquires Majority Stake in Maxima Seafood

Nordic Seafood, a fully-owned subsidiary of Nissui, has expanded its operations by acquiring a majority stake in Maxima Seafood Holding. This acquisition brings Maxima's expertise in procuring and processing fresh, locally caught fish and Japanese scallops under the Nordic Seafood banner.


Seafood Venture Jalongi Retail Forays into Bengaluru

Jalongi Retail has inaugurated its first Jalongi brand hub and processing center in Koramangala, Bengaluru. This development underscores the company's commitment to strengthening its presence in the southern market, with Bengaluru earmarked as a key location owing to its size and potential.

Strategy Analysis & Recommendation



The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Fresh Fish & Seafood Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles



The report delves into recent significant developments in the Fresh Fish & Seafood Market, highlighting leading vendors and their innovative profiles. These include All Fresh Seafood, American Fish & Seafood Inc., Austral Group S.A.A., Borella Seafood, Cremonini S.p.A., Faroe Seafood, Grieg Seafood, Kai Gourmet, LLC, Lee Fish, Lee Fishing Company, Lerøy Seafood Group ASA, Marine Harvest, METRO Cash & Carry India Pvt. Ltd., Metropolitan Seafood & Gourmet, Mowi ASA, Ocean Beauty Seafoods, Pelagia AS, Pescafresh, Peter’s Florida Seafood, Pure Food Fish Market, Tesco Group, The Cornish Fishmonger, The Fish House Restaurant, True World Foods, LLC, Wm Morrison Supermarkets Limited, and Woodcroft Fresh Fish & Seafood.

Market Segmentation & Coverage



This research report categorizes the Fresh Fish & Seafood Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
Cephalopods
Crustaceans
Flatfish
Mollusks
Oily Fish
Sea Bream
Shellfish
Shrimps
White Fish
Application
Commercial
Residential
Distribution Channel
Offline
Convenience Stores
Fish Mongers
Hypermarkets & Supermarkets
Online
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year