Skip to main content
  1. Market Insights
  2. Consumer
  3. Food

Fish & Seafood - Dominican Republic

Dominican Republic
  • Revenue in the Fish & Seafood market amounts to US$1.23bn in 2024. The market is expected to grow annually by 7.31% (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$107.80 are generated in 2024.
  • In the Fish & Seafood market, volume is expected to amount to 89.89m kg by 2029. The Fish & Seafood market is expected to show a volume growth of 5.3% in 2025.0.
  • The average volume per person in the Fish & Seafood market is expected to amount to 6.8kg in 2024.

Definition:

The Fish & Seafood market covers products made from edible fish and crustaceans, mollusks, and other seafood. These products have been farmed or harvested from freshwater or the ocean and are bought and consumed for nutrient-based purposes.

Structure:

The market consists of 3 different submarkets:

  • The Fresh Fish market covers all types of edible fish that are fresh, chilled, or frozen, and have been farmed or harvested from freshwater or the ocean.
  • The Fresh Seafood market covers all types of crustaceans and mollusks that are fresh, chilled, or frozen and have been farmed or harvested.
  • The Processed Fish & Seafood market covers all types of fish and seafood that have been dried, salted, brined, canned, or smoked.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

In-Scope

  • Fresh and frozen fish((whole or part of, such as cuts, fillets)
  • Fresh and frozen seafood
  • Processed fish and seafood

Out-Of-Scope

  • Fish-based ready-to-eat meals
  • Seaweed and other aquatic plants
  • Caviar and prepared and preserved shark fins
  • Out-of-home consumption
Fish & Seafood: market data & analysis - Cover

Market Insights report

Fish & Seafood: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Demographics

    Most recent update: Mar 2024

    Sources: Statista Market Insights, Statista Consumer Insights Global

    Sales Channels

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Fish & Seafood market in the Dominican Republic is experiencing subdued growth due to factors such as limited access to high-quality imported seafood, low consumer awareness of the health benefits of seafood, and a lack of infrastructure for processing and preserving fish. However, with increasing demand for fresh and processed fish, as well as government initiatives to promote sustainable fishing practices, the market is expected to see modest growth in the coming years.

    Customer preferences:
    As health and wellness continue to be a growing concern for consumers in the Dominican Republic, there has been an increasing demand for sustainable and ethically sourced seafood options. This trend is driven by a growing awareness of environmental issues and a desire for fresher, healthier food choices. Additionally, there has been a shift towards online ordering and delivery of fish and seafood, as more consumers prioritize convenience and safety in their purchasing habits. This has also led to an increase in the use of online marketplaces and social media platforms for seafood marketing and sales.

    Trends in the market:
    In the Dominican Republic, the Fish & Seafood Market within The Food market is experiencing a shift towards sustainable practices. This trend is driven by consumer demand for ethically sourced seafood and government initiatives promoting responsible fishing methods. This trajectory has significant implications for industry stakeholders, as it requires investment in new technologies and partnerships to meet sustainability goals. Additionally, there is a growing interest in value-added seafood products, further driving the need for innovation and collaboration in the market.

    Local special circumstances:
    In Dominican Republic, the Fish & Seafood Market is heavily influenced by the country's coastal location and rich marine resources. The local culture also plays a significant role, with seafood being an integral part of traditional cuisine. Moreover, the government has implemented strict regulations to ensure sustainable fishing practices, which have a significant impact on market dynamics. This has led to a thriving market for locally sourced and responsibly caught fish and seafood, catering to both domestic and international demand.

    Underlying macroeconomic factors:
    The Fish & Seafood Market within The Food market in the Dominican Republic is heavily influenced by macroeconomic factors such as economic growth and stability, trade policies, and consumer spending. With an improving national economy and increasing consumer confidence, there is a growing demand for high-quality, sustainable seafood products. Additionally, the country's strategic location and access to international markets make it a prime location for seafood production and export. However, fluctuations in global seafood prices and changing trade agreements can also impact the market. The market is also affected by the government's fiscal policies, such as taxes and subsidies, which can influence production costs and consumer prices. Overall, the macroeconomic climate of the Dominican Republic plays a crucial role in the growth and performance of the Fish & Seafood Market within The Food market.

    Methodology

    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.

    Consumer

    Access more Market Insights on Consumer topics with our featured report

    Fish & Seafood: market data & analysis - BackgroundFish & Seafood: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Contact

    Get in touch with us. We are happy to help.