Fish & Seafood - Finland

Finland

Highlights

Revenue in the Fish & Seafood market amounts to US$838.90m in 2024. The market is expected to grow annually by 4.79% (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$151.20 are generated in 2024.
In the Fish & Seafood market, volume is expected to amount to 33.87m kg by 2029. The Fish & Seafood market is expected to show a volume growth of 2.7% in 2025.0.
The average volume per person in the Fish & Seafood market is expected to amount to 5.4kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fish & Seafood market in Finland is experiencing negligible growth, influenced by factors such as the increasing demand for fresh and processed fish & seafood, as well as the growing health consciousness among consumers. The convenience of online purchasing and the availability of a wide variety of fish & seafood options also contribute to the market's growth. However, strict regulations on fishing practices and environmental concerns may hinder the growth rate.

Customer preferences: Consumers in Finland are increasingly prioritizing sustainable and ethically-sourced seafood options, with a growing awareness of the impact of overfishing on marine ecosystems. This trend has led to a rise in demand for certified sustainable seafood products and a shift towards plant-based alternatives to traditional fish and seafood dishes. Additionally, the popularity of meal delivery services and convenience foods has also influenced consumer preferences, with a growing demand for ready-to-eat seafood options that cater to busy lifestyles.

Trends in the market: In Finland, the Fish & Seafood Market within The Food market is experiencing a rising demand for sustainably sourced and ethically produced seafood products. This trend is driven by consumer awareness and a growing concern for the environmental impact of fishing practices. As a result, industry stakeholders are adapting their processes to meet these demands, such as implementing sustainable fishing methods and obtaining certifications. This trend is expected to continue, with potential implications for industry players who do not meet these standards and may face consumer backlash. Furthermore, this trend presents opportunities for innovative companies to differentiate themselves and cater to the growing demand for sustainable seafood.

Local special circumstances: In Finland, the Fish & Seafood Market is heavily influenced by the country's location in the Baltic and Gulf of Finland, providing easy access to fresh seafood. The market is also shaped by the country's strong fishing and aquaculture industries, as well as the cultural tradition of consuming fish as a staple food. Additionally, strict regulations and sustainability initiatives play a significant role in the market, ensuring that fish stocks are managed responsibly and consumers have access to high-quality, safe seafood products.

Underlying macroeconomic factors: The growth of the Fish & Seafood Market within The Food market is also influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The demand for fish and seafood is heavily influenced by consumer purchasing power, which is affected by economic conditions. Countries with strong economic growth and stable fiscal policies tend to have higher demand for fish and seafood, as consumers have more disposable income to spend on these products. Additionally, the increasing popularity of healthy and sustainable diets globally is also driving the demand for fish and seafood, creating growth opportunities for the market.

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.