Processed Fish & Seafood - CIS | Statista Market Forecast

Revenue in the Processed Fish & Seafood market amounts to US$4.77bn in 2024. The market is expected to grow annually by 7.05% (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$19.68 are generated in 2024.
In the Processed Fish & Seafood market, volume is expected to amount to 573.40m kg by 2029. The Processed Fish & Seafood market is expected to show a volume growth of 2.2% in 2025.0.
The average volume per person in the Processed Fish & Seafood market is expected to amount to 2.1kg 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 the CIS region is seeing minimal growth, influenced by factors such as increasing health consciousness, convenience of online services, and adoption of digital technologies. The sub-markets of Canned, Dried & Smoked Fish and Fish Fingers & Portions also play a role in shaping the market.

Customer preferences: Consumers in the Processed Fish & Seafood Market are increasingly prioritizing sustainability and ethical sourcing in their purchasing decisions. This trend is driven by growing awareness of the environmental impact of fishing practices, as well as concerns about overfishing and bycatch. As a result, there is a rising demand for certified sustainable and responsibly sourced seafood products. This shift towards conscious consumption is also reflected in the growing popularity of plant-based seafood alternatives among health-conscious and environmentally conscious consumers.

Trends in the market: In the CIS region, the Processed Fish & Seafood Market is seeing a shift towards sustainable sourcing and production methods. This trend is driven by increasing consumer demand for ethically sourced and environmentally friendly products. In addition, there is a growing focus on product innovation, with companies introducing new, healthy and convenient seafood options to cater to changing consumer preferences. These trends are expected to continue, presenting opportunities for industry players to differentiate themselves and tap into the growing demand for sustainable and innovative seafood products.

Local special circumstances: In the CIS region, the Processed Fish & Seafood market is heavily influenced by Russia's large population and growing middle class, with a strong demand for convenient and ready-to-eat seafood products. In contrast, the market in Southeast Asia is driven by the region's diverse culinary traditions and growing health consciousness, leading to a higher demand for fresh and sustainably sourced seafood options. Additionally, the regulatory environment in each country plays a crucial role in shaping the market, with strict import regulations in China and Vietnam driving the growth of domestic producers, while Russia's ban on certain seafood imports has opened up opportunities for local producers to meet the demand.

Underlying macroeconomic factors: The Processed Fish & Seafood Market within The Food market is impacted by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Countries with strong economic growth, stable governments, and supportive fiscal policies tend to have a higher demand for processed fish and seafood due to increased consumer purchasing power. On the other hand, regions with economic instability and weak fiscal policies may experience slower market growth. Additionally, the rising global demand for healthy and sustainable food options is driving the demand for processed fish and seafood, as consumers become more health-conscious and environmentally aware. This trend is expected to continue, particularly in developing countries with a growing middle-class population.

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.