Fresh Fish - APAC | Statista Market Forecast

Fresh Fish - APAC

APAC

Highlights

Revenue in the Fresh Fish market amounts to US$206.20bn in 2024. The market is expected to grow annually by 5.93% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$57bn in 2024).
In relation to total population figures, per person revenues of US$48.10 are generated in 2024.
In the Fresh Fish market, volume is expected to amount to 11.78bn kg by 2029. The Fresh Fish market is expected to show a volume growth of 3.7% in 2025.0.
The average volume per person in the Fresh Fish market is expected to amount to 2.4kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Fish Market in APAC is experiencing minimal growth, impacted by factors such as limited consumer awareness and slow adoption of digital technologies. However, rising demand for fresh seafood and increasing health consciousness may drive growth in the future.

Customer preferences: In APAC, the Fresh Fish Market within the Fish & Seafood Market of The Food market is experiencing a rise in demand for sustainably sourced and traceable seafood products. This is driven by an increasing awareness of environmental issues and a growing preference for ethically sourced food. Additionally, there has been a shift towards online purchasing of fresh fish, as consumers prioritize convenience and safety amidst the ongoing COVID-19 pandemic. This trend is expected to continue as consumers become more health-conscious and prioritize sustainable and transparent sourcing in their food choices.

Trends in the market: In APAC, the Fresh Fish Market of the Fish & Seafood Market within The Food market is seeing an increase in demand for sustainably sourced seafood, driven by consumer awareness of environmental and ethical concerns. This trend is expected to continue as consumers prioritize environmentally friendly and ethically produced products. Industry stakeholders should focus on implementing sustainable practices and promoting ethical sourcing to meet consumer demands and maintain market competitiveness. Additionally, the rise of e-commerce and online grocery platforms in the region is providing greater accessibility to fresh fish and seafood, presenting opportunities for market expansion and increased convenience for consumers.

Local special circumstances: In Japan, the Fresh Fish Market is heavily influenced by the country's rich seafood culture and its strict regulations on fishing and aquaculture. This has led to a market that prioritizes high-quality and sustainable seafood products, as well as a strong emphasis on traceability and food safety. Additionally, Japan's geographical location as an island nation has also played a significant role in shaping the market, with a strong reliance on imports and a diverse range of seafood offerings from different regions of the world.

Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Countries with strong economic growth and stability tend to have a higher demand for fresh fish, as consumers have higher purchasing power and are willing to pay a premium for high-quality seafood. Additionally, government policies, such as trade agreements and import/export regulations, can have a significant impact on the availability and prices of fresh fish in the market. Moreover, economic indicators such as inflation rates, exchange rates, and consumer confidence also play a crucial role in shaping the performance of the Fresh Fish Market in APAC.

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.