Fresh Seafood - Chile

Chile

Highlights

Revenue in the Fresh Seafood market amounts to US$595.30m in 2024. The market is expected to grow annually by 7.90% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$12bn in 2024).
In relation to total population figures, per person revenues of US$30.28 are generated in 2024.
In the Fresh Seafood market, volume is expected to amount to 19.89m kg by 2029. The Fresh Seafood market is expected to show a volume growth of 7.1% in 2025.0.
The average volume per person in the Fresh Seafood market is expected to amount to 0.8kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Seafood Market in Chile is currently experiencing subdued growth, with various factors impacting its growth rate. These include changing consumer preferences, increasing competition, and fluctuating prices. Despite this, the market is still expected to experience steady growth due to the rising demand for fresh and healthy seafood options.

Customer preferences: In Chile, consumers are showing a growing interest in sustainable and locally sourced seafood options. This trend is driven by a desire to support local fishermen and reduce environmental impact. Additionally, there is a rising demand for high-quality and premium seafood products, as consumers become more health-conscious and seek out nutritious and clean eating options. This shift towards sustainable and premium seafood aligns with the country's cultural appreciation for fresh and flavorful cuisine.

Trends in the market: In Chile, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably sourced seafood. Consumers are increasingly conscious of the environmental impact of their food choices and are seeking out locally caught and responsibly farmed seafood. This trend is expected to continue as the government and industry stakeholders invest in sustainable fishing practices. Additionally, there is a growing demand for premium, high-quality seafood, driven by the rise of food tourism and the growth of the dining out culture in Chile. These trends have significant implications for industry stakeholders, as they will need to adapt their sourcing and marketing strategies to meet the changing preferences of consumers.

Local special circumstances: In Chile, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's long coastline and rich marine resources. The culture of seafood consumption is deeply ingrained in Chilean cuisine, with a wide variety of dishes featuring fresh seafood. Additionally, the country's strict regulations on sustainable fishing practices have contributed to the high quality and reputation of Chilean seafood in the global market. These unique factors have shaped the market dynamics, with a strong emphasis on sustainable sourcing and a diverse range of seafood products available to consumers.

Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors in Chile. The country's strong economic growth, stable political environment, and favorable trade policies have contributed to the development of a thriving seafood industry. Additionally, the country's strategic location along the Pacific coast allows for easy access to a diverse range of seafood, enabling it to be a top exporter of fresh seafood to global markets. Furthermore, Chile's government has implemented policies to support sustainable fishing practices, leading to a strong reputation for high-quality, environmentally-friendly seafood products. These factors have all contributed to the growth and success of the Fresh Seafood Market in Chile, making it a key player in the global seafood industry.

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.