Fresh Fish - Southern Europe

Southern Europe

Highlights

Revenue in the Fresh Fish market amounts to US$26.02bn in 2024. The market is expected to grow annually by 4.61% (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$109.90 are generated in 2024.
In the Fresh Fish market, volume is expected to amount to 1.30bn kg by 2029. The Fresh Fish market is expected to show a volume growth of 1.2% in 2025.0.
The average volume per person in the Fresh Fish market is expected to amount to 5.2kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Fish Market in Southern Europe has seen minimal growth due to factors such as limited consumer awareness and traditional buying habits. Despite this, the demand for fresh seafood in the region remains steady thanks to its cultural significance and healthy attributes.

Customer preferences: Consumers in Southern Europe are showing a growing interest in sustainability and ethical sourcing when it comes to their seafood purchases. This has led to a rise in demand for locally caught and responsibly farmed fresh fish. Additionally, with the rise of health-consciousness, there is a growing preference for leaner and protein-rich fish varieties. This shift towards sustainable and healthier options can also be attributed to the influence of Mediterranean diets and the cultural importance of fresh seafood in the region.

Trends in the market: In Southern Europe, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a growing trend of sustainable and locally-sourced seafood. This trend is driven by consumer demand for ethically-sourced and environmentally-friendly products. In addition, there is a rising popularity of seafood subscription services, providing consumers with convenient access to a variety of fresh fish. These trends have significant implications for industry stakeholders, as they must adapt to meet consumer demands and capitalize on the growing market for sustainable seafood. Additionally, this trend may also lead to increased competition among suppliers, as more players enter the market to cater to this demand.

Local special circumstances: In Southern Europe, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the region's rich cultural heritage and strong tradition of seafood consumption. The Mediterranean diet, which emphasizes fresh and locally sourced fish, is a major driver of the market. Additionally, regulatory policies promoting sustainable fishing practices have also played a key role in shaping the market dynamics. These factors, coupled with the region's coastal geography and strong fishing industry, make it a unique and thriving market for fresh fish and seafood.

Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily impacted by macroeconomic factors in Southern Europe. In recent years, the region has experienced slow economic growth and high unemployment rates, leading to a decrease in consumer spending. This has had a direct impact on the demand for fresh fish, as consumers are opting for more affordable protein sources. Furthermore, fluctuations in exchange rates and trade policies have impacted the availability and cost of imported fish, affecting market dynamics. However, the growing trend towards healthy and sustainable food choices is expected to drive the demand for fresh fish in the region, creating opportunities for market growth. Additionally, government initiatives aimed at promoting the fishing industry and improving infrastructure are expected to support the growth of the Fresh Fish Market in Southern Europe.

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.