Processed Fish & Seafood - APAC | Statista Market Forecast

Revenue in the Processed Fish & Seafood market amounts to US$116.20bn in 2024. The market is expected to grow annually by 6.37% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$32bn in 2024).
In relation to total population figures, per person revenues of US$27.10 are generated in 2024.
In the Processed Fish & Seafood market, volume is expected to amount to 12.88bn kg by 2029. The Processed Fish & Seafood market is expected to show a volume growth of 5.0% in 2025.0.
The average volume per person in the Processed Fish & Seafood market is expected to amount to 2.5kg in 2024.

Definition:

The Processed Fish & Seafood market covers all types of fish and seafood that have either been smoked, dried, canned, salted or given chemical preservatives.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

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Canned, dried and smoked fish
Processed seafood
Surimi-based products
Fish sticks, Fish nuggets

Fresh and frozen fish
Fresh and frozen seafood
Ready-to-eat meals
Caviar and prepared and preserved shark fins
Out-of-home consumption

The processed fish & seafood market in APAC is witnessing modest growth due to factors such as increasing consumer health awareness, adoption of digital technologies, and convenience of online services. However, sub-markets like canned, dried & smoked fish and fish fingers & portions have a slower growth rate, possibly impacted by changing consumer preferences and pricing pressures.

Customer preferences: Consumers in APAC are showing a growing preference for processed fish and seafood products due to their convenience and longer shelf life. This trend is particularly evident among busy urban populations who prioritize quick and easy meal solutions. Additionally, there is a rising demand for healthier and more sustainable seafood options, driven by factors such as concerns over food safety and environmental impact. This has led to a surge in the availability of ethically sourced and certified sustainable seafood products in the APAC market.

Trends in the market: In APAC, the Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market is witnessing a rise in demand for sustainable and traceable seafood products. Consumers are becoming more environmentally conscious and are seeking out products with transparent supply chains. This trend is expected to continue, with industry players investing in sustainable fishing practices and adopting eco-friendly packaging solutions. Additionally, there is a growing interest in plant-based seafood alternatives, driven by health and environmental concerns. These trends have significant implications for industry stakeholders, as they will need to adapt to changing consumer preferences and invest in sustainable practices to remain competitive in the market.

Local special circumstances: In Asia Pacific, the Processed Fish & Seafood market is heavily influenced by the region's diverse seafood culture and regulations. In countries like Japan and South Korea, where seafood consumption is deeply ingrained in their diets, the market is driven by a strong demand for high-quality and fresh seafood products. In contrast, countries like China and Vietnam have a more fragmented market, with local regulations and food safety concerns impacting consumer preferences. Additionally, the increasing popularity of e-commerce platforms in the region has led to the rise of online seafood marketplaces, catering to the growing demand for convenience and traceability in seafood products.

Underlying macroeconomic factors: The growth of the Processed Fish & Seafood market is heavily influenced by macroeconomic factors such as global economic conditions, trade policies, and consumer spending patterns. Countries with stable economic growth and favorable trade agreements, such as China and Japan, have seen a significant increase in demand for processed fish & seafood products. Furthermore, government initiatives to promote healthy eating and sustainable seafood consumption have also contributed to the market growth. On the other hand, countries facing economic downturns or trade restrictions, like India and Indonesia, have experienced a slower market growth. Additionally, the rising disposable income and changing dietary habits of consumers in the APAC region have also played a crucial role in the growth of the processed fish & seafood 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.