Mordor Intelligence has published a new report on the seafood market, offering a comprehensive analysis of trends, growth drivers, and future projections.
-- The global seafood market size is estimated at USD 740.79 billion in 2026, up from USD 719.08 billion in 2025, and is projected to reach USD 859.34 billion by 2031, growing at a CAGR of 3.02% during 2026–2031. Growth is driven by advances in farmed seafood production, rising adoption of health-focused diets, and increased use of AI, robotics, and sensor-based aquaculture to cut feed costs, improve efficiency, and reduce mortality. Fish remains the largest segment, while shrimp sees faster innovation. Frozen seafood dominates by form, though processing improvements are opening new opportunities. Wild-caught seafood retains traditional appeal, but farmed seafood is gaining share due to sustainability and scalability. The market remains highly fragmented, with leading players pursuing vertical integration across hatchery, farming, processing, and branded distribution.
Key Trends Shaping the Seafood Market
Rising focus on farmed seafood and production efficiency
One of the central trends in the seafood market is the steady shift toward farmed seafood. While wild-caught seafood continues to hold strong consumer appeal, aquaculture is gaining importance as producers look to ensure a consistent supply and manage environmental pressures.
Strong demand for frozen and processed seafood formats
Frozen seafood continues to dominate the market as cold-chain infrastructure improves across both developed and emerging economies. Frozen formats allow year-round availability, longer shelf life, and easier transportation, making them attractive for retailers and foodservice operators.
Steady performance of foodservice and expanding retail innovation
On-trade channels such as restaurants, hotels, and catering services remain a major contributor to seafood sales. Seafood’s presence in dining menus supports premium pricing and consistent demand. At the same time, off-trade channels are showing increased innovation through better packaging, wider product assortments, and the use of digital retail platforms.
Market Segmentation Overview
- By Seafood Type: Fish (salmon, tuna, other fish types), shrimp, other seafood
- By Form: Canned, fresh/chilled, frozen, processed
- By Source: Farmed, wild-caught
- By Distribution Channel: Off-trade (supermarkets/hypermarkets, online retail stores, convenience stores, others), on-trade (hotels, restaurants, catering)
Key Players in the Seafood Market
- Austevoll Seafood ASA
- Aqua Star Corp
- Mowi ASA
- Maruha Nichiro Corp.
- Thai Union Group
Conclusion
The global seafood market is set to maintain steady growth through 2030, supported by consistent demand across foodservice and retail channels, expanding aquaculture production, and the continued popularity of frozen seafood formats. While wild-caught seafood remains important, farmed seafood is becoming increasingly central to meeting global demand. Asia-Pacific will continue to play a leading role in production and consumption, while other regions focus on efficiency, quality, and compliance. Overall, the seafood market’s outlook reflects balanced growth driven by supply reliability, changing consumer preferences, and ongoing investment across the value chain, as outlined in the Mordor Intelligence seafood market report.
Industry Related Reports:
Asia-Pacific Canned Seafood Market - The Asia-Pacific Canned Seafood Market Report is Segmented by Species/Type (Canned Fish, Canned Shrimp, Canned Prawns, Other Types), Packaging Material (Steel Cans, Aluminum Cans, Retort Pouches, Other), Product Form (Whole, Chunks/Pieces), Distribution Channel (On-Trade, Off-Trade), and Geography (China, Japan, India, and More).
Canned Seafood Market - The Canned Seafood Market Report Segments the Industry Into Type (Canned Fish, Canned Shrimp, Canned Prawns, Other Types), Packaging Material (Steel Cans, Aluminum Cans, Retort Pouches, Others), Product Form (Whole, Chunks/Pieces) Distribution Channel (On-Trade, Off-Trade), and Geography (North America, Europe, Asia-Pacific, South America, Middle East, Africa).
Frozen and Canned Seafood Market - The Frozen and Canned Seafood Market Report is Segmented by Form (Frozen and Canned), Type (Fish, Shrimp, and Others), Distribution Channel (On-Trade and Off-Trade), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa).
Get More Insights - https://www.mordorintelligence.com/industry-reports/global-frozen-and-canned-seafood-market?utm_source=marketersmedia
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