Fish & Seafood - Taiwan

Taiwan

Highlights

Revenue in the Fish & Seafood market amounts to US$3.69bn in 2024. The market is expected to grow annually by 4.03% (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$154.20 are generated in 2024.
In the Fish & Seafood market, volume is expected to amount to 290.30m kg by 2029. The Fish & Seafood market is expected to show a volume growth of 3.2% in 2025.0.
The average volume per person in the Fish & Seafood market is expected to amount to 10.4kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fish & Seafood market in Taiwan is experiencing moderate growth propelled by factors such as increasing health consciousness, demand for online services and advancements in digital technologies. However, minimal growth rate can be attributed to competition within sub-markets and fluctuations in supply.

Customer preferences: In Taiwan, there is a growing trend towards sustainable and environmentally-friendly consumption habits, which is reflected in the Fish & Seafood Market within The Food market. Consumers are becoming more conscious of the impact of their food choices on the environment and are opting for responsibly-sourced and sustainably-caught fish and seafood. This shift is driven by cultural values of respect for nature and a desire for healthier and more ethical food options. As a result, there has been a rise in demand for certified sustainable seafood and eco-friendly packaging in the market.

Trends in the market: In Taiwan, the Fish & Seafood market is experiencing a shift towards sustainable and ethical practices. This trend is driven by consumer demand for transparency and responsible sourcing. As a result, major players in the market are implementing traceability systems and certifications to ensure the sustainability of their products. This trend is expected to continue, with companies investing in sustainable practices and consumers becoming more conscious of their seafood choices. This has implications for industry stakeholders, as they must adapt to changing consumer preferences and invest in sustainable practices to remain competitive in the market.

Local special circumstances: In Taiwan, the Fish & Seafood Market is heavily influenced by the country's island geography and rich fishing culture. This has led to a strong emphasis on fresh and sustainable seafood options, as well as a variety of unique dishes and cooking methods. Additionally, Taiwan's strict regulations on seafood imports have created a strong demand for locally sourced products, driving the growth of domestic fish farms and aquaculture. The market also benefits from Taiwan's strong seafood export industry, which has helped to establish the country as a leading global seafood supplier.

Underlying macroeconomic factors: The Fish & Seafood Market in Taiwan is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. With Taiwan being one of the leading exporters of seafood in the world, changes in global economic trends, such as shifts in consumer demand and trade policies, can greatly impact the market. Additionally, the national economic health of Taiwan, including its GDP growth, inflation rates, and unemployment rates, can also affect the purchasing power and consumption patterns of seafood products. Furthermore, fiscal policies, such as taxes and subsidies, can impact the production costs and prices of fish and seafood in Taiwan. These macroeconomic factors play a crucial role in shaping the performance of the Fish & Seafood Market in Taiwan and should be closely monitored by industry players.

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.