Fish & Seafood - Israel

Israel

Highlights

Revenue in the Fish & Seafood market amounts to US$2.86bn in 2024. The market is expected to grow annually by 5.64% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$97bn in 2024).
In relation to total population figures, per person revenues of US$306.90 are generated in 2024.
In the Fish & Seafood market, volume is expected to amount to 140.60m kg by 2029. The Fish & Seafood market is expected to show a volume growth of 3.4% in 2025.0.
The average volume per person in the Fish & Seafood market is expected to amount to 12.8kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fish & Seafood market in Israel is experiencing minimal growth due to factors such as limited consumer awareness, lack of access to digital technologies, and the prevalence of traditional buying habits in the sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood. However, increasing health consciousness and the convenience of online services could potentially drive future growth in this market.

Customer preferences: As Israel's food market continues to evolve, there has been a noticeable increase in consumer demand for sustainable and ethically-sourced seafood products. This trend is driven by a growing awareness of the negative environmental impact of overfishing and by a desire to support local fishermen and their communities. Additionally, there has been a shift towards healthier and more diverse seafood options, as consumers prioritize their physical well-being and embrace new culinary experiences.

Trends in the market: In Israel, the Fish & Seafood Market is experiencing a shift towards sustainable practices, with consumers becoming more conscious of the environmental impact of their food choices. This trend is expected to continue, driven by government initiatives and consumer demand. Additionally, there is a growing trend towards convenient and ready-to-eat seafood products, as busy lifestyles and a focus on health and wellness drive demand. This presents opportunities for industry players to innovate and diversify their product offerings to meet changing consumer needs.

Local special circumstances: In Israel, the Fish & Seafood Market is heavily influenced by the country's location on the Mediterranean Sea, making seafood a popular and easily accessible option for consumers. Additionally, the Kosher dietary laws in Israel heavily prioritize the consumption of fish, further driving demand for seafood products. The Israeli government also has strict regulations in place to ensure the safety and sustainability of the seafood industry, which has helped to establish a reputation for high-quality and ethically-sourced seafood products. This unique combination of geographical, cultural, and regulatory factors has created a strong and thriving Fish & Seafood Market in Israel, setting it apart from other markets and shaping its market dynamics.

Underlying macroeconomic factors: The Fish & Seafood Market in Israel is greatly impacted by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Israel's strong economy and stable political climate have created a favorable environment for market growth. Additionally, the government's investment in the food sector, including the fish and seafood industry, has led to advancements in technology and infrastructure, further driving market growth. The increasing demand for healthy and sustainable food options, coupled with Israel's position as a leading exporter of fish and seafood, has also contributed to the market's success.

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.