Fish & Seafood - APAC

APAC

Highlights

Revenue in the Fish & Seafood market amounts to US$366.70bn in 2024. The market is expected to grow annually by 6.21% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$97bn in 2024).
In relation to total population figures, per person revenues of US$85.55 are generated in 2024.
In the Fish & Seafood market, volume is expected to amount to 26.53bn kg by 2029. The Fish & Seafood market is expected to show a volume growth of 4.4% in 2025.0.
The average volume per person in the Fish & Seafood market is expected to amount to 5.3kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fish & Seafood market in the APAC region is experiencing minimal growth, influenced by factors such as increasing consumer health awareness and the convenience of online services. The market's sub-segments, including Fresh Fish, Fresh Seafood, and Processed Fish & Seafood, also play a role in the overall growth rate. Various technological advancements and changing consumer preferences are impacting the market's growth rate.

Customer preferences: With the growing awareness of sustainable and ethical consumption, consumers in APAC are increasingly gravitating towards responsibly sourced fish and seafood products. This trend is driven by the demand for transparency and traceability in the food supply chain, as well as a desire to support local and small-scale fisheries. Additionally, the rise in health consciousness has led to a preference for low-mercury and high-nutrient seafood options, such as wild-caught salmon and sardines. These shifts in consumer preferences are influenced by cultural values of environmental stewardship and holistic well-being.

Trends in the market: In APAC, the Fish & Seafood market is experiencing a surge in demand for sustainable and ethically-sourced products. This trend is driven by consumers' increasing awareness of the environmental impact of the fishing industry and their desire for healthier and more responsible food choices. As a result, there is a growing market for traceable and certified seafood products, such as those with Marine Stewardship Council (MSC) certification. This trend is expected to continue, with more consumers in the region prioritizing sustainability in their purchasing decisions. Industry stakeholders, including fisheries and retailers, will need to adapt to this trend by implementing sustainable practices and promoting transparency in their supply chain. This will not only benefit the environment but also enhance brand reputation and consumer trust.

Local special circumstances: In Japan, the Fish & Seafood Market is heavily influenced by the country's strong fishing tradition and culture. The demand for high-quality, fresh seafood is driven by the country's preference for raw fish dishes such as sushi and sashimi. The strict regulatory standards for fishing and aquaculture also contribute to the market dynamics, ensuring the quality and safety of seafood products. Additionally, the strong presence of local fish markets and the popularity of traditional seafood festivals also play a significant role in shaping the market trends.

Underlying macroeconomic factors: The Fish & Seafood Market in APAC is heavily influenced by macroeconomic factors such as economic growth, consumer spending, and government policies. Emerging economies in the region, such as China and India, are experiencing rapid economic growth, leading to increased consumer spending and demand for high-quality seafood products. Government initiatives promoting sustainable fishing practices and investments in seafood processing infrastructure are also contributing to market growth. However, fluctuating global seafood prices and trade tensions between countries can impact market performance. Additionally, the growing health consciousness among consumers and the increasing demand for protein-rich diets are driving the demand for fish and seafood products in the region.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.