Seafood Market Size, Share, Growth Analysis, By Type (Fish, Crustaceans), By Category (Dried Seafood, Frozen Seafood), By Distribution Channel (Supermarkets & Hypermarkets, Online Retail), By Region - Industry Forecast 2024-2031

The global seafood market was valued at USD 320 billion in 2022 and is expected to grow from USD 340.86 billion in 2023 to reach USD 564.98 billion by 2031, at a CAGR of 6.52% during the forecast period (2024-2031). 

Seafood generally consists of the food that is derived from the sea and these are categorized as fish, crustaceans, and molluscs seafood. Increasing awareness and changing lifestyles have forced people to focus on their decorating health and seafood provides a variety of health benefits which attributes to the growth of the seafood market worldwide. The lifestyle of the customer is slowly changing towards non-vegetarian food and a combination of seafood with vegetarian food excluding beef, poultry, pork, and others which are known as pescetarianism. Beef and pork contain harmful substances and a variety of anabolic to treat the meat and grow it, which could affect the health of people consuming it. These are some of the reasons the consumer nowadays prefers seafood as no anabolics and harmful chemicals are used to rear these creatures. The growing awareness of people regarding the living conditions of farmed animals such as poultry, beef cattle, and pork at farms has also made people change their eating preferences from non-vegetarian to pescetarianism. Which in turn will increase the demand for seafood in the coming years.

US Seafood Market is poised to grow at a sustainable CAGR for the next forecast year.