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Fish & Seafood - Southeast Asia

Southeast Asia
  • Revenue in the Fish & Seafood market amounts to US$85.54bn in 2024. The market is expected to grow annually by 5.90% (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$123.50 are generated in 2024.
  • In the Fish & Seafood market, volume is expected to amount to 5.90bn kg by 2029. The Fish & Seafood market is expected to show a volume growth of 3.9% in 2025.0.
  • The average volume per person in the Fish & Seafood market is expected to amount to 7.4kg in 2024.

Definition:

The Fish & Seafood market covers products made from edible fish and crustaceans, mollusks, and other seafood. These products have been farmed or harvested from freshwater or the ocean and are bought and consumed for nutrient-based purposes.

Structure:

The market consists of 3 different submarkets:

  • The Fresh Fish market covers all types of edible fish that are fresh, chilled, or frozen, and have been farmed or harvested from freshwater or the ocean.
  • The Fresh Seafood market covers all types of crustaceans and mollusks that are fresh, chilled, or frozen and have been farmed or harvested.
  • The Processed Fish & Seafood market covers all types of fish and seafood that have been dried, salted, brined, canned, or smoked.

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.

For more information on the displayed data, click the info button on the right side of each box.

In-Scope

  • Fresh and frozen fish((whole or part of, such as cuts, fillets)
  • Fresh and frozen seafood
  • Processed fish and seafood

Out-Of-Scope

  • Fish-based ready-to-eat meals
  • Seaweed and other aquatic plants
  • Caviar and prepared and preserved shark fins
  • Out-of-home consumption
Fish & Seafood: market data & analysis - Cover

Market Insights report

Fish & Seafood: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Fish & Seafood market in Southeast Asia has been experiencing minimal growth, influenced by factors such as increasing consumer health awareness, convenience of online services, and adoption of digital technologies. This trend is seen across the sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood.

    Customer preferences:
    As Southeast Asian countries experience rapid economic growth and urbanization, consumer preferences in the Fish & Seafood Market within The Food market are shifting towards convenience and sustainability. This has led to an increase in demand for pre-packaged, ready-to-eat seafood products and sustainably sourced seafood options. Additionally, the rising health consciousness among consumers has led to a growing demand for organic and natural seafood products. These emerging trends are driven by cultural values and the growing influence of Western lifestyles in the region.

    Trends in the market:
    In Southeast Asia, there is a growing demand for sustainable and traceable seafood products, driven by consumer awareness and government initiatives. This trend is expected to continue, with companies investing in technologies such as blockchain to ensure transparency in the supply chain. Additionally, there is a rising interest in alternative protein sources like plant-based seafood, driven by health and environmental concerns. These trends present opportunities for industry players to differentiate themselves and cater to evolving consumer preferences.

    Local special circumstances:
    In Southeast Asia, the Fish & Seafood Market is heavily influenced by the region's geographical location and cultural preferences. With a large coastal population, seafood is a staple in the local diet and demand for fresh and sustainable options is high. Additionally, government regulations on fishing and aquaculture play a significant role in shaping the market. For example, in Indonesia, strict regulations on shrimp farming have led to a rise in organic and sustainable shrimp production. In Thailand, the popularity of street food and night markets has created a thriving market for seafood on-the-go, catering to the fast-paced lifestyle of urban consumers.

    Underlying macroeconomic factors:
    The Fish & Seafood Market within The Food market in Southeast Asia is heavily influenced by macroeconomic factors such as trade policies, economic stability, and consumer spending. The region's strong economic growth, coupled with rising disposable incomes, has led to an increase in demand for seafood products. Additionally, government initiatives to promote sustainable fishing practices and investments in aquaculture have also positively impacted the market. However, challenges such as overfishing and environmental concerns pose a threat to the market's growth. Overall, the market is expected to continue its upward trend, driven by favorable economic conditions and increasing consumer awareness about sustainable seafood sourcing.

    Methodology

    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.

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    Fish & Seafood: market data & analysis - BackgroundFish & Seafood: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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