Processed Fish & Seafood - Taiwan

Revenue in the Processed Fish & Seafood market amounts to US$1.31bn in 2024. The market is expected to grow annually by 4.17% (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$54.61 are generated in 2024.
In the Processed Fish & Seafood market, volume is expected to amount to 144.30m kg by 2029. The Processed Fish & Seafood market is expected to show a volume growth of 3.2% in 2025.0.
The average volume per person in the Processed Fish & Seafood market is expected to amount to 5.3kg 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 Taiwan has been experiencing minimal growth, influenced by factors such as consumer preference for fresh seafood, strict regulations on food safety, and the availability of locally sourced seafood.

Customer preferences: Consumers in Taiwan are showing a growing preference for processed fish and seafood products, driven by convenience and health considerations. With busy lifestyles and a desire for healthy eating, there is a demand for easy-to-prepare, ready-to-eat seafood options. This trend is further reinforced by the influence of Western cuisine and the popularity of international fast food chains. Additionally, the increasing awareness of sustainable and ethical sourcing practices has led to a rise in demand for certified sustainable seafood products.

Trends in the market: In Taiwan, the Processed Fish & Seafood Market within the Fish & Seafood Market is seeing an increase in demand for sustainable and traceable seafood products. This trend is driven by consumers' growing awareness of the environmental impact of their food choices and their desire for transparency in the supply chain. As a result, seafood companies are investing in sustainable practices and implementing traceability systems to meet this demand. This trend is expected to continue as more consumers prioritize sustainable and ethical food choices. Industry stakeholders should take note of this trend and adapt their practices to meet consumer preferences, as well as seize the opportunity to differentiate their products and gain a competitive edge in the market.

Local special circumstances: In Taiwan, the Processed Fish & Seafood Market is heavily influenced by the country's strong fishing industry and its culture of seafood consumption. The market is also heavily regulated, with strict standards for safety and quality. Additionally, Taiwan's geographical location, surrounded by sea, provides easy access to a wide variety of fresh seafood, making it a key factor in the market's growth. These unique factors have contributed to the popularity of processed fish and seafood products in Taiwan, making it a lucrative market for both domestic and international players.

Underlying macroeconomic factors: The Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market is greatly influenced by macroeconomic factors in Taiwan. The country's stable economic growth and favorable regulatory environment have contributed to the market's expansion. Taiwan's increasing investment in food processing technologies and infrastructure has also led to the development of more advanced and efficient processed fish and seafood products. Furthermore, the growing demand for healthy and convenient food options in the global market has further boosted the growth of the Processed Fish & Seafood Market in Taiwan.

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.