Fresh Fish Market Competition by Manufacturers 2028

Fresh Fish Market Growth & Trends

The global fresh fish market size is expected to reach USD 273.96 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 2.6% from 2022 to 2028. The growing demand for and consumption of fresh fish products in developed and developing economies is driving the market. Moreover, the rising concerns over premature skin aging and bone health and high prevalence of cardiovascular diseases are accelerating the demand for fresh fish around the globe. In addition, growing demand for premium quality food products due to freshness, diversity of the products, and convenience for food safety are expected to boost the market growth over the forecast period.

 U.S. fresh fish market size, by distribution channel, 2019 - 2028 (USD Billion)

Fresh Fish Market Segmentation

Grand View Research has segmented the global fresh fish market on the basis of product, form, distribution channel, and region:

Based on the Product Insights, the market is segmented into Pelagic and Demersal.

  • The pelagic segment held the largest market share of more than 60.0% in 2021. The rising popularity of fish food due to growing health consciousness among consumers will boost the market growth over the forecast period. Additionally, increasing consumption of pelagic fish has significantly reduced the level of micronutrient and protein malnutrition, thus accelerating market growth. Moreover, increasing consumption and production of pelagic fish in developing economies like India, China, and Indonesia due to more affordable pricing is propelling the growth of this segment.
  • The demersal segment is expected to register the fastest CAGR of 3.0% from 2022 to 2028 due to the increasing demand for demersal fish as it is a valuable protein source for human consumption. Increasing consumption of seafood across the world, especially in developing countries, is anticipated to increase the product demand. However, regulations on seasonal fishing may restrain the growth of this product over the forecast period.

Based on the Form Insights, the market is segmented into Fresh and Frozen.

  • The fresh segment captured the largest revenue share of more than 55.0% in 2021. The growth of the market is mainly due to the increasing consumption of fresh fish due to several health benefits such as reducing the risk of chronic diseases. Moreover, consumers’ inclination toward protein-rich fish food is significantly accelerating the segment demand.
  • The frozen segment is anticipated to expand at the fastest growth rate of 2.8% from 2022 to 2028. The growing demand for fish and innovative chilling, packaging, and distribution technologies have led to significant growth of the market over the forecast period. Furthermore, continuously changing lifestyles and busy life schedules of consumers are increasing the demand for frozen fish.

Based on the Distribution Channel Insights, the market is segmented into Offline and Online.

  • The offline channel held the largest revenue share of over 80.0% in 2021. Suppliers of fresh fish use the traditional retail channel to increase sales. Consumers are preferring offline platforms for purchasing goods, groceries, and fish food products, where they can physically verify product quality. Moreover, easy access and searching for various fish products through stores is likely to drive the segment. Offline channels are expected to remain dominant over the forecast period due to the improved distribution channel networks across the globe.
  • The online segment is expected to register the fastest CAGR of 3.6% from 2022 to 2028. The internet penetration rate has registered lucrative growth in recent years, which is accelerating the market growth. Several suppliers of fresh fish are offering products not only on their websites but also on e-commerce platforms, which is projected to fuel the market growth.

Fresh Fish Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

Key Companies Profile & Market Share Insights

The market is fragmented with the presence of various established market players and suppliers of fresh fish across the globe, coupled with numerous domestic players.

Some of the prominent players operating in the global fresh fish market include,

  • Mowi
  • Thai Union Group PCL
  • Cermaq Group AS
  • Huon Aqua
  • Stolt Sea Farm
  • Stehr Group
  • Leigh Fisheries
  • True World Foods
  • Priory Fishery Ltd.

Order a free sample PDF of the Fresh Fish Market Intelligence Study, published by Grand View Research.

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