Seafood Market Report Scope & Overview:

The global Seafood Market was valued at USD 387.00 Billion in 2025 and is expected to reach USD 703.20 Billion by 2035, growing at a CAGR of 6.15% from 2026 to 2035.

As demand for seafood continues to rise amid growing health consciousness for lean proteins and Omega-3s, together with a trend whereby seafood production is moving from capture fisheries towards aquaculture, which makes up the bulk of seafood consumed, the middle classes across Asia Pacific, Latin America, and some parts of the Middle East & Africa are consuming seafood at a rate higher than just population growth, with increased cold chain and logistics making more kinds of seafood available in both developed and developing markets. Additionally, there is an ongoing wave of consolidation within the aquaculture industry whereby major players in the salmon and shrimp segments acquire processing facilities and farmed products.

Cooke Inc. agreed in 2026 to acquire the Atlantic salmon farming operations of Mowi Canada East, including hatchery facilities and processing plants across New Brunswick, Prince Edward Island, and Newfoundland and Labrador, one of several major aquaculture consolidation deals reshaping North American and European salmon farming capacity in recent years.

Market Size and Forecast

• Market Size in 2026E: USD 410.80 Billion

• Market Size by 2035: USD 703.20 Billion

• CAGR: 6.15% from 2026 to 2035

• Fastest Growing Region: Middle East & Africa

• Largest Region: Asia Pacific

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Seafood Market Trends

• Rapid expansion of aquaculture production is offsetting stagnating wild-catch volumes and reshaping global seafood supply chains toward farmed fish and shellfish.

• Growing consumer preference for value-added, ready-to-cook, and portion-controlled seafood formats is reshaping product development across retail and foodservice channels.

• Rising traceability and sustainability certification requirements, including MSC and ASC labeling, are becoming a competitive differentiator for exporters targeting premium retail channels.

• Expansion of cold-chain logistics and e-commerce grocery delivery is extending fresh and frozen seafood access into previously underserved inland and secondary markets.

• Consolidation among major aquaculture producers through acquisitions of farming assets and processing capacity is reshaping competitive dynamics across the salmon and shrimp segments.

U.S. Seafood Market Outlook

The U.S. Seafood Market is expected to reach USD 51.60 Billion in 2025 and continue to grow steadily until 2035 driven by increasing health-conscious consumption of shrimp and salmon, increased number of restaurants and QSRs serving seafood meals, and sustained high demand for premium sushi grade and value-added seafood products. The U.S. market for seafood products continues to rely greatly on its imports due to lack of sufficient domestic wild-catch and aquaculture production capabilities for its population size. Increased awareness about sustainable fishing and traceability of seafood products is also influencing purchasing decisions of food retailers and restaurants which have started to promote their certifications in this regard.

NOAA Fisheries trade statistics report that more than 70% of the seafood consumed in the U.S. in 2025 has been imported, and some of the main countries for shrimp and salmon are Vietnam, India, Chile, and Canada.

Seafood Market Segment Analysis

• By Type, Fish led the Seafood Market with a 46.20% share in 2025, while Crustaceans is the fastest-growing type segment with a CAGR of 7.85% from 2026-2035.

• By Product Form, Frozen led the Seafood Market with a 38.60% share in 2025, while Value-Added/Ready-to-Cook is the fastest-growing product form segment with a CAGR of 8.70% from 2026-2035.

• By Source, Aquaculture/Farmed led the Seafood Market with a 54.80% share in 2025, while Aquaculture/Farmed is the fastest-growing source segment with a CAGR of 7.40% from 2026-2035.

• By Distribution Channel, Supermarkets & Hypermarkets led the Seafood Market with a 41.30% share in 2025, while Online/E-Commerce is the fastest-growing distribution channel segment with a CAGR of 11.60% from 2026-2035.

• By End User, Household/Retail led the Seafood Market with a 58.70% share in 2025, while Foodservice & Institutional is the fastest-growing end user segment with a CAGR of 7.90% from 2026-2035.

Fish Remains the Backbone of Global Consumption as Crustaceans Surge

In the Seafood Market, Fish became the dominant player in 2025 by taking up 46.20% market revenue share owing to its integral part in dietary and retail baskets in many regions where different types of fishes including salmon, tuna, cod, and tilapia are available as sources of protein. Fish offers a very broad supply base due to its presence not only in wild-caught capture fisheries but also in the form of advanced aquaculture facilities. This provides an opportunity to offer the product all year round and in a variety of price ranges available to a limited number of proteins. Increased consciousness of consumers regarding the heart-related benefits of omega-3 fatty acids is driving consumption of fish, especially in North America, Europe, and urbanized Asia. Infrastructure created over decades due to fish being sold and consumed for long periods provides cost advantages compared to other, less standardized products in seafood. Constant innovations in fish products such as marinated fillets, portion-sized frozen fish and shelf stable pouches help keep fish relevant in the modern retail environment. Salmon remains a high-priced product due to increased fish farming and growing demand for sushi-grade and smoked products.

The Crustaceans category is expected to witness the highest CAGR of 7.85% during the forecast period 2026-2035, driven by increasing worldwide demand for shrimp, lobsters, and crabs, as well as fast-growing shrimp aquaculture capacity in Asia Pacific and Latin America. Specifically, advances in terms of disease control, feed conversion rates, and pond efficiency have contributed to the ability of shrimp farmers based in Ecuador, India, and Vietnam to increase production much faster than natural catch could possibly keep up with. Higher price premium of crustaceans over fin fish is another factor adding to the attractiveness of this category for foodservice and retailing. Increasing demand from foodservices for shrimp preparations among quick-serve and casual dining establishments, coupled with the availability of frozen and processed crustacean products suitable for at-home consumption, will further contribute to the growth of this category.

Frozen Seafood Holds the Largest Share as Ready-to-Cook Formats Expand

The Frozen segment led the Seafood Market with a revenue share of 38.60% in 2025, reflecting the format's unmatched ability to preserve freshness and nutritional quality across long-distance international supply chains that connect major producing regions with distant consumption markets. Freezing technology allows seafood exporters in Asia Pacific and Latin America to serve retail and foodservice customers across North America, Europe, and the Middle East without the shelf-life constraints that limit fresh product distribution. Advances in individually quick-frozen processing have also substantially improved the taste and texture of frozen seafood relative to earlier generations of the format, narrowing the perceived quality gap with fresh product among mainstream consumers. Retailers continue to expand frozen seafood assortments as a way to reduce spoilage-related shrinkage while still offering the broad species variety that fresh cases, constrained by local landing patterns, often cannot match.

Value Added/Ready-to-Cook is projected to show the highest CAGR of 8.70% in the forecast period 2026-2035 owing to consumers pressed for time seeking restaurant-quality seafood meals that involve little or no cooking know-how. The trend towards ready-to-cook, pre-marinated, pre-breaded and pre-portioned seafood has been gaining traction on shelves as opposed to unprocessed seafood as young people are unfamiliar with traditional methods of preparing seafood. Similar trends have been noted in the food service industry where food service establishments are leaning towards value-added versions to make meal portions cost uniform and reduce kitchen labor as foodservice continues to face challenges in staffing.

Aquaculture Supplies the Majority of Global Seafood and Continues to Outpace Wild Catch

Farmed/Aquaculture was the highest earning segment in the Seafood Market with a revenue market share of 54.80%, showing a trend change within the global seafood industry where the farmed supply is becoming dominant compared to the wild fish supply as the main supplier of seafood in the world. The development of improved feed conversion ratio, better breeding and disease management strategies have helped aquaculture companies produce seafood on a predictable scale, unlike wild fishing industries, which face limitations of natural fish stock and quotas. Large-scale farming activities of salmon, shrimp and tilapia in countries like Norway, Chile, Vietnam and China have resulted in large cost savings, giving farmed seafood an economic edge over their counterparts of wild-caught fish products.

The Aquaculture/Farmed sub-segment is also set for the highest CAGR of 7.40% from 2026-2035 due to sustained growth in capacities driven by consolidation in the leading fish farming players, as well as investment in offshore and inland recirculating aquaculture systems. Volumes of the wild capture sub-segment are anticipated to be relatively stable during the forecast period due to quotas and stock conservation measures adopted by leading fishing countries, making aquaculture the only source of increased volumes of seafood globally. Strategic mergers and acquisitions in the leading salmon farming companies are driving consolidation and growth in capacities, while investment in genetics, vaccines, and closed containment systems is improving yields and decreasing mortality rates for farmed species. Growth in the aquaculture sector is being driven by new emerging producers in Southeast Asia, Latin America, and Africa.

Supermarkets Anchor Retail Sales as Online Seafood Delivery Accelerates

In the Seafood Market, the Supermarkets & Hypermarkets category was the dominant revenue segment in 2025, accounting for a 41.30% revenue share, thanks to the format's ability to provide a wide range of species, good prices, and an assortment of fresh, frozen, and value-added seafood products all together in one place. Major grocery retailers have been spending a lot on seafood counters, their own cold chain infrastructure, and private label seafood programs, enabling them to earn margins from different types of products and earning the trust of consumers through the information on sourcing and quality of the products offered.

The Online/E-Commerce segment is projected to expand at the fastest CAGR of 11.60% during the forecast period 2026-2035, as improving cold-chain last-mile delivery infrastructure and growing consumer comfort with ordering perishable proteins online converge to unlock a previously underserved distribution channel. Direct-to-consumer seafood subscription services and online seafood markets are increasingly offering traceability information, sourcing stories, and curated premium selections that differentiate them from conventional retail assortments. Quick-commerce grocery platforms in urban Asia Pacific and North America are further accelerating channel growth by making same-day fresh and frozen seafood delivery a practical, everyday option rather than a niche premium service.

Household Consumption Leads Demand as Foodservice Recovery Accelerates

The Household/Retail category dominated the Seafood Market with 58.70% of the revenue share in 2025 owing to the amount of seafood consumption within households among both the traditional seafood eating cultures in Asia Pacific as well as increasing health-conscious consumers in North America and Europe. Improved seafood varieties available at retail stores, along with better product education and availability of easily consumed value-added products, have enabled households with limited culinary knowledge to include seafood in their meal cycles. Increasing disposable income levels in emerging economies have resulted in an increase in seafood consumption within households.

According to the report, the Foodservice & Institutional segment will witness the highest growth with a CAGR of 7.90% during the forecast period of 2026-2035. It will be propelled by the recovery and growth in restaurant, hotel, and catering demand, along with the increasing presence of seafood on institutional menus. Quick service and fast-casual chain restaurants have started including dishes using shrimp and fish in their menus to target health-conscious consumers, thus giving the foodservice market an increased exposure for seafood that extends beyond specialized seafood restaurants. The rise in tourism in the Middle East and Asia Pacific region has boosted the demand for seafood in the institutional segment.

Regional Insights

Asia Pacific Seafood Market Insights

The Asia Pacific dominated the global Seafood Market in 2025 with the highest regional share of 43.50% owing to the traditional culture of seafood consumption in countries such as China, Japan, and Southeast Asian nations, high levels of production of seafood through aquaculture, and the existence of export-oriented processing facilities supplying domestic as well as foreign markets. The increasing disposable incomes of middle-class populations in this region have caused the consumption pattern to move from subsistence fishing to branded and processed varieties of seafood, which has been facilitated by the favorable government policies promoting modernized aquaculture practices in this region.

China is one of the prominent segments in the Asia Pacific market in 2025 accounting for about 38.60% of its share on account of the size of the domestic aquaculture industry, fast-growing protein consumption of the middle-class population, and the growing cold-chain retail network in both coastal and inland cities. Japan, India, Vietnam, and Indonesia are some of the other regions driving the regional market through their seafood consumption and exports.

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North America Seafood Market Insights

In 2025, North America had a considerable market share in the global Seafood Market owing to per capita consumption of shrimp and salmon, developed cold-chain infrastructure for seafood in retail and foodservice sector, and preference for sustainable certifications. Competitive forces are driven by imports in the region, and retailers as well as food service providers have been increasingly establishing direct sourcing agreements with aquaculture farmers in foreign countries to ensure consistent supply and price.

United States has been the dominant country in the North American market and has contributed about 78.40% of the North American market share in 2025 owing to larger population, high adoption of seafood menus in restaurants as well as quick services sector and higher dependence on imports of shrimp and salmon. Canada's contribution to regional growth is because of the salmon farming activities in its Atlantic and Pacific regions.

Europe Seafood Market Insights

Europe represented a meaningful share of the global Seafood Market in 2025, supported by long-standing seafood consumption traditions across Mediterranean and Nordic countries, a well-established salmon farming industry centered in Norway, and increasingly stringent EU sustainability and traceability regulation that has strengthened consumer confidence in certified seafood products. Growing demand for premium and organic seafood formats is also reshaping retail assortments across major Western European markets.

Spain led the European market with an 18.90% regional share in 2025, reflecting its position as one of the world's highest per-capita seafood-consuming nations and its large domestic fishing and processing industry. Norway continues to anchor the region's aquaculture supply as the world's leading Atlantic salmon producer, while Portugal, Italy, and France are also contributing meaningfully to regional consumption and processing activity.

Middle East & Africa and Latin America Seafood Market Insights

Middle East & Africa is anticipated to witness the fastest CAGR of 7.95% over the forecast period 2026-2035 owing to increasing urban population, rising demands of foodservice sector due to growth in the tourism and hospitality industry, increased investments in imports and cold chain facilities, and government food security diversification initiatives across the Gulf countries. Similarly, Latin America is benefiting from being one of the largest aquaculture and capture fisheries exporters worldwide, along with growing domestic consumption alongside its already existing export industry.

In the Middle East & Africa market, Nigeria holds the highest regional share of 22.80% in 2025 owing to its huge population and dependence on fish for protein intake, while Saudi Arabia and UAE are individually developing aquaculture industry and importing facilities for their food security policies. In the Latin American market, Brazil holds 35.60% of the regional share in 2025 owing to growing domestic production of tilapia and shrimp aquaculture along with increasing consumption among urban populations, while Peru and Chile are other important contributors in the region with large scale fishmeal, fishoil, and salmon export industries.

Growth Drivers: Rising Protein Demand and Aquaculture Expansion Driving Market Growth

The Seafood Market is being driven primarily by growing global demand for lean, nutrient-dense protein, continued expansion of aquaculture production capacity, and rising health awareness surrounding the cardiovascular and cognitive benefits of omega-3 fatty acids found in fish and shellfish. Population growth combined with rising disposable income across Asia Pacific, Latin America, and the Middle East & Africa continues to expand the base of consumers able to afford regular seafood consumption, while urbanization is improving access to the cold-chain retail infrastructure required to distribute fresh and frozen seafood reliably. Aquaculture's continued displacement of wild capture fisheries as the primary global seafood source is also providing a more predictable, scalable supply base than natural fish stocks, which remain constrained by quota regulation and environmental variability.

Seafood exporters from leading producer regions have been able to gain access to faraway markets more easily due to increased globalization of trade liberalization and improved cold chain logistics infrastructure. E-commerce and quick-commerce grocer delivery channels have added to the number of potential consumers for seafood as a wider range of consumers are able to access fresh and frozen products through these distribution channels. Retailer and consumer interest in certification programs like the MSC and ASC certifications provides an additional avenue to capitalize on higher prices by demonstrating sustainable fishing practices.

Restraints: Overfishing Concerns and Supply Chain Volatility Limiting Market Expansion

Although the underlying demand may be favorable, the market does encounter significant constraints with regard to over-fishing pressure exerted on wild fish populations, stricter quota systems, and the susceptibility of wild catch and aquaculture to climatic shocks. The rising ocean temperatures and shifting migration patterns are making the conventional fishing operations difficult in many key fishing regions, while outbreaks of diseases among shrimps and salmon have proven to be an ongoing threat to aquaculture production and pricing. The mentioned supply-side factors result in periodic fluctuations in prices which can squeeze the margins of processors and retailers who cannot increase prices for cost-averse consumers.

Complex and inconsistent international trade regulation, including tariffs, import quotas, and varying food-safety standards across major consuming markets, adds further operational complexity for seafood exporters and importers alike. Rising cold-chain logistics and fuel costs continue to pressure margins across long-distance seafood supply chains, particularly for lower-value species where transportation costs represent a larger share of final product pricing. Periodic consumer trust challenges related to species mislabeling, sourcing transparency, and sustainability claims also pose a reputational risk that can dampen demand growth in premium retail and foodservice channels if not proactively addressed through verified certification and traceability systems.

Opportunities: Sustainable Aquaculture Innovation and Emerging Market Expansion Creating New Growth Avenues

There is considerable potential in further development of sustainable aquaculture technology in land-based recirculating aquaculture systems, offshore facilities, and alternate sources of feed which are less dependent on wild-caught fishmeal and fish oil. Aquaculture companies that succeed in utilizing these innovative technologies will be able to benefit from the increasing demand of environmentally-conscious consumers and retailers and limit their exposure to the risks of diseases and other environmental challenges associated with open-net aquaculture.

Emerging countries in the Middle East & Africa, as well as in Latin America, are especially promising for growth in terms of rising rates of urbanization, development of modern retail environment, and food security programs initiated by the governments that lead to the emergence of new consumer base for both imported and domestic seafood. Value-added and premium products, including pre-cooked products, sustainably-certified seafood, and diversified assortment of different species are creating additional opportunities for profit margins in the industry. Finally, the increasing popularity of e-commerce and online seafood deliveries provide new ways for customer acquisition for producers and specialty retailers.

Recent Developments:

• 2026: Cooke Inc. agreed to acquire Mowi Canada East's Atlantic salmon farming operations, including hatcheries and processing plants across New Brunswick, Prince Edward Island, and Newfoundland and Labrador, expanding Cooke's Atlantic Canada salmon production footprint.

• 2025: Mitsubishi-owned Cermaq agreed to acquire Grieg Seafood's farming operations in British Columbia, Newfoundland, and Norway in a transaction valued at approximately C$990 million, consolidating salmon farming capacity across three major producing regions.

• 2025: Mowi ASA increased its ownership stake in Norwegian salmon farming and processing peer Nova Sea to 95%, deepening its integrated position across the Nordic salmon supply chain.

• 2026: Mowi ASA agreed to acquire Torghatten Aqua's seawater salmon farming business in northern Norway, further consolidating farming capacity within its core Nordic production regions.

Seafood Companies are:

• Thai Union Group PCL

• Maruha Nichiro Corporation

• Nippon Suisan Kaisha Ltd. (Nissui)

• Mowi ASA

• Cooke Inc.

• Austevoll Seafood ASA

• Cermaq Group AS

• Trident Seafoods Corporation

• StarKist Co.

• Bumble Bee Foods LLC

• High Liner Foods Incorporated

• Leroy Seafood Group ASA

• Grieg Seafood ASA

• Pacific Seafood Group

• American Seafoods Group LLC

• Dongwon Industries Co., Ltd.

• Nueva Pescanova Group

• Tri Marine International

Seafood Market Report Scope: