Fresh Fish Market Size, Share, Growth Analysis, By Type(Salmon and Tuna), By Distribution Channel(Offline retail and Online retail), By Region - Industry Forecast 2024-2031

Fresh Fish Market size was valued at USD 5.10 billion in 2022 and is poised to grow from USD 5.31 billion in 2023 to USD 7.32 billion by 2031, growing at a CAGR of 4.10% in the forecast period (2024-2031).

The market is highly competitive, with a large number of players operating globally. The market is characterized by the presence of both large and small-scale companies, with a focus on product innovation and sustainability. Key strategies employed by companies in the market include mergers and acquisitions, partnerships, and collaborations to expand their product portfolios and distribution networks. Additionally, companies are investing in research and development activities to introduce new technologies and processes to improve fish production and ensure the safety and quality of their products. 'Thai Union Group PCL (Thailand)', 'Maruha Nichiro Corporation (Japan)', 'Nippon Suisan Kaisha, Ltd. (Japan)', 'Mowi ASA (Norway)', 'High Liner Foods Incorporated (Canada)', 'Clearwater Seafoods Incorporated (Canada)', 'Lerøy Seafood Group ASA (Norway)', 'Marine Harvest ASA (Norway)', 'Dongwon Industries Co. Ltd. (South Korea)', 'Austevoll Seafood ASA (Norway)', 'Tassal Group Limited (Australia)', 'Huon Aquaculture Group Limited (Australia)', 'Lyons Seafoods Limited (United Kingdom)', 'Sea Watch International Ltd. (United States)', 'The Union Frozen Products Co., Ltd. (Thailand)', 'Trident Seafoods Corporation (United States)', 'Pacific Seafood Group (United States)', 'AquaChile S.A. (Chile)', 'Cermaq Group AS (Norway)', 'Thai Union Frozen Products PCL (Thailand)'

One of the main drivers of the market for fresh fish products is the increasing demand for protein-rich diets as an alternative to high-calorie foods. Fish products are a low-fat source of protein and contain beneficial vitamins such as omega-3 fatty acids, which are essential for muscle building and overall health. This trend is expected to continue over the forecast period as consumers become more health-conscious and seek out natural, sustainable, and nutritious food options.

One key market trend in the fresh fish products market is the increasing demand for sustainable and traceable fish products. Consumers are becoming more aware of the environmental impact of fishing practices and are seeking out products that are responsibly sourced and produced. This trend is driving companies to adopt more sustainable practices in their fishing and farming operations, as well as investing in technology solutions to ensure traceability throughout the supply chain. Companies are also focusing on product labeling and certifications to increase consumer trust and confidence in the safety and sustainability of their products.

North America dominated the market due to the high demand for fresh and healthy food products. The United States is a key player in the North American market and has been witnessing steady growth in the demand for fresh fish products, driven by the growing health consciousness among consumers. The availability of advanced technology and the presence of established market players in the region have contributed to the growth of the market in North America. Moreover, initiatives by the government to promote healthy food habits among the population have further fueled the demand for fresh fish products.