Fresh Fish - Northern Europe

Northern Europe

Highlights

Revenue in the Fresh Fish market amounts to US$2.90bn in 2024. The market is expected to grow annually by 3.00% (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$85.51 are generated in 2024.
In the Fresh Fish market, volume is expected to amount to 114.30m kg by 2029. The Fresh Fish market is expected to show a volume growth of 1.1% in 2025.0.
The average volume per person in the Fresh Fish market is expected to amount to 3.3kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Fish Market in Northern Europe has seen minimal growth due to a combination of factors such as declining fish stocks, strict regulations on fishing, and changing consumer preferences towards plant-based diets. These challenges have resulted in a stagnant growth rate for the Fish & Seafood Market within the region's Food Market. Despite these challenges, the Fresh Fish Market continues to provide a variety of high-quality, locally sourced seafood options for consumers in Northern Europe.

Customer preferences: In Northern Europe, there has been a noticeable increase in the demand for sustainably sourced and ethically produced fresh fish. Consumers are becoming more conscious of their food choices and are opting for locally caught fish over imported options. This trend is driven by a growing awareness of the environmental impact of large-scale fishing practices and a desire for transparency in the food supply chain. Additionally, there is a rising interest in alternative protein sources, such as plant-based seafood, as consumers seek healthier and more sustainable options. These preferences are also reflected in the growing popularity of fish markets and community-supported fisheries.

Trends in the market: In Northern Europe, the Fresh Fish Market of the Fish & Seafood Market within The Food market is seeing a rise in demand for sustainable and locally sourced seafood. This trend is driven by increasing consumer awareness and concern for the environment, as well as a desire for fresher and higher quality products. As a result, there has been a shift towards smaller-scale and community-supported fisheries, as well as the use of new technologies to improve traceability and reduce waste in the supply chain. These trends not only have significant implications for the industry, but also provide opportunities for market players to differentiate themselves and cater to evolving consumer preferences.

Local special circumstances: In Northern Europe, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the region's fishing culture and traditions. The market is also regulated by strict government standards and certifications, ensuring the quality and sustainability of the seafood. Additionally, the demand for locally sourced and organic products in this region has led to the rise of small-scale, artisanal fishing businesses. These factors contribute to a unique and thriving market for fresh fish in Northern Europe.

Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market is greatly impacted by macroeconomic factors in Northern Europe. The region's strong economic growth, stable political environment, and favorable regulatory policies have created a conducive market for fresh fish and seafood. Additionally, the increasing demand for healthy and sustainable food options, coupled with the rising disposable income of consumers, has further boosted market growth. Moreover, the region's high level of seafood consumption and the presence of advanced logistics and distribution systems have also contributed to the market's success. However, the market may face challenges due to the rising costs of raw materials and the impact of Brexit on trade and supply chains.

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.