Fish & Seafood - Northern Europe

Northern Europe

Highlights

Revenue in the Fish & Seafood market amounts to US$5.56bn in 2024. The market is expected to grow annually by 3.73% (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$164.10 are generated in 2024.
In the Fish & Seafood market, volume is expected to amount to 277.00m kg by 2029. The Fish & Seafood market is expected to show a volume growth of 1.4% in 2025.0.
The average volume per person in the Fish & Seafood market is expected to amount to 7.6kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fish & Seafood market in Northern Europe is currently experiencing a negligible growth rate due to factors such as declining consumption of processed seafood and increasing concerns about sustainability in the fresh fish market. However, the market is expected to see some growth in the future due to the rising trend of health-conscious consumers and the convenience of online purchasing options.

Customer preferences: The demand for sustainably sourced and ethically produced fish and seafood is on the rise in Northern Europe, as consumers become more conscious about their impact on the environment. This trend is fueled by a growing interest in eco-friendly and healthy diets. With a focus on transparency and traceability, consumers are also increasingly interested in knowing where their seafood comes from and how it was caught or farmed. This has led to a rise in certifications and labeling schemes that highlight sustainable and responsible fishing practices.

Trends in the market: In Northern Europe, the Fish & Seafood Market is seeing a rise in consumer demand for sustainably sourced and traceable seafood products. This trend is driven by increasing awareness of environmental and health concerns, as well as a growing preference for ethically sourced food. As a result, industry stakeholders are implementing innovative solutions such as blockchain technology to provide transparency and ensure sustainable practices. This trend is expected to continue as consumers become more conscious of their seafood choices and demand for sustainable options. This has significant implications for industry stakeholders, who must adapt their practices to meet consumer demands and maintain a competitive edge in the market.

Local special circumstances: In Northern Europe, the Fish & Seafood Market is heavily influenced by the region's strong fishing and aquaculture industries. The abundance of natural resources and strict regulatory standards ensure the high quality of products, making Northern Europe a major exporter of fish and seafood globally. Additionally, the cultural preference for fresh and sustainably sourced seafood drives demand for organic and locally caught products. This, coupled with the increasing interest in health and wellness, has also led to the rise of innovative and eco-friendly fish and seafood products in the market.

Underlying macroeconomic factors: The Fish & Seafood Market within The Food market in Northern Europe is heavily influenced by macroeconomic factors such as economic growth, consumer spending power, and government policies. With the region's stable economy and high disposable income, there is a growing demand for premium seafood products. Moreover, the government's initiatives to promote sustainable fishing practices and ensure food safety are driving market growth. Additionally, the increasing health-conscious population and growing trend towards clean-label and organic seafood products are also contributing to the market's expansion.

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.