Fish & Seafood - Spain

Spain

Highlights

Revenue in the Fish & Seafood market amounts to US$16.20bn in 2024. The market is expected to grow annually by 3.17% (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$341.30 are generated in 2024.
In the Fish & Seafood market, volume is expected to amount to 825.40m kg by 2029. The Fish & Seafood market is expected to show a volume growth of 1.7% in 2025.0.
The average volume per person in the Fish & Seafood market is expected to amount to 16.2kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fish & Seafood market in Spain is experiencing slow growth, influenced by factors such as changing consumer preferences, increasing health concerns and the convenience of online services. The sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood are key players in this market, each contributing to its overall growth rate. However, the negligible growth can be attributed to challenges such as strict regulations, supply chain disruptions, and environmental concerns.

Customer preferences: As consumers in Spain become more health-conscious, there has been a noticeable increase in demand for sustainably sourced and locally caught fish and seafood. This trend is also driven by a growing interest in traditional Spanish cuisine and a desire to support local fishermen and seafood markets. Additionally, with the rise of e-commerce and online shopping, there has been a noticeable shift towards online seafood delivery services, providing convenience and accessibility to consumers.

Trends in the market: In Spain, the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainable and traceable seafood products. This trend is driven by increasing consumer awareness of the environmental impact of overfishing and the importance of supporting local fisheries. Industry stakeholders are responding by implementing sustainable sourcing practices and promoting transparency in their supply chain. This trend is expected to continue, with potential implications for increased collaboration between industry players and a shift towards more eco-friendly practices in the seafood market.

Local special circumstances: In Spain, the Fish & Seafood Market is heavily influenced by the country's coastal location and rich fishing tradition. With a strong reliance on fresh, locally sourced seafood, the market is able to offer a wide variety of high-quality products to consumers. Additionally, strict regulations and sustainability initiatives have been implemented to protect marine resources and ensure the long-term viability of the market. This unique combination of geographical, cultural, and regulatory factors has helped Spain establish itself as a leader in the Fish & Seafood Market within The Food market industry, setting it apart from other markets around the world.

Underlying macroeconomic factors: The Fish & Seafood Market in Spain is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. As a major player in the global seafood industry, Spain's market is impacted by fluctuations in global demand and prices. The country's economic health and government policies also play a significant role in determining the overall performance of the market. For instance, favorable regulatory environments and investments in the seafood industry can lead to faster market growth, while economic challenges and limited funding can hinder market growth. Additionally, the growing demand for seafood products, driven by factors such as the increasing prevalence of chronic diseases and the aging population, further contribute to the market's growth in Spain.

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.