Fresh Seafood - Peru

Peru

Highlights

Revenue in the Fresh Seafood market amounts to US$870.20m in 2024. The market is expected to grow annually by 6.31% (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$25.09 are generated in 2024.
In the Fresh Seafood market, volume is expected to amount to 35.29m kg by 2029. The Fresh Seafood market is expected to show a volume growth of 5.9% 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 Peru has seen minimal growth due to various factors such as limited consumer awareness and the high cost of importing seafood. Despite the convenience of online services, traditional markets remain popular for seafood purchases.

Customer preferences: As consumers in Peru become more health-conscious, there is a growing demand for fresh, sustainably sourced seafood. This has led to an increase in the availability of locally caught seafood in markets, as well as a rise in the popularity of seafood delivery services. Additionally, there has been a shift towards organic and eco-friendly seafood products, as well as a growing interest in traditional preparation methods, such as ceviche, highlighting a preference for fresh and natural options.

Trends in the market: In Peru, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably sourced seafood. This trend is driven by consumer awareness and concern for the environment, as well as government regulations promoting sustainable fishing practices. As a result, industry stakeholders are investing in sustainable sourcing and certifications to meet consumer demand. This trend is expected to continue, with potential implications for industry players who do not prioritize sustainability. Additionally, there is a growing trend of e-commerce in the seafood market, allowing consumers to purchase fresh seafood directly from fishermen and suppliers, bypassing traditional distribution channels. This trend is likely to impact the supply chain and distribution strategies of industry stakeholders.

Local special circumstances: In Peru, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by its unique geographical location. With a long coastline and access to the Pacific Ocean, Peru boasts a diverse range of seafood options. Additionally, the country's rich cultural heritage has led to a strong demand for traditional seafood dishes, such as ceviche. Furthermore, strict regulations on fishing and sustainability practices have shaped the market, with consumers showing a preference for ethically and sustainably sourced seafood.

Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market in Peru is heavily influenced by macroeconomic factors such as the global economic trends, national economic health, fiscal policies, and other relevant financial indicators. Peru's strong economic growth and stable political environment have contributed to the growth of the Fresh Seafood Market. Additionally, the country's increasing middle class and growing tourism industry have increased the demand for high-quality seafood products. However, challenges such as fluctuating exchange rates and inflation rates can impact the market's performance. Additionally, government policies and regulations related to trade and fisheries can also have a significant influence on 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.