Seafood Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Fish, Crustaceans, Molluscs, Lobsters, Crabs, Oysters, Squid, and Others), By Form (Fresh Seafood, Frozen Seafood, Canned Seafood, Dried Seafood, and Others), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores & Specialty Stores, Online Sales Channel, and Others), By End User (Household Consumption, Foodservice Industry, and Industrial), and Region Forecast 2020-2031

Seafood Market size was valued at US$ 317,440.3 million in 2024 and is projected to reach US$ 606,887.9 million by 2031 at a CAGR of 9.4% from 2025-2031. Moreover, the U.S. Seafood Market is projected to grow significantly, reaching an estimated value of US$ 189,349.0 million by 2031.

The market encompasses the trade, distribution, and retail of edible aquatic organisms, including fish, shellfish, crustaceans, mollusks, and other marine species. The market is being driven by a rising global preference for protein-rich and health-conscious diets, with seafood increasingly recognized as a clean, lean source of essential nutrients like omega-3 fatty acids. This demand is further fueled by growing awareness around wellness, lifestyle diseases, and the availability of ready-to-cook and sustainably sourced options. Also, a key trend reshaping the industry is the surge in demand for traceable and eco-certified seafood, supported by digital technologies like blockchain and growing interest in value-added and plant-based seafood alternatives. These reflect a shift in consumer behavior toward convenience, sustainability, and transparency.

Further, the rapid expansion of sustainable aquaculture offers a scalable solution to meet rising demand while minimizing environmental impact. Governments and private players are increasingly investing in RAS systems and offshore farming, particularly in Asia and Africa. However, overexploitation of marine resources, climate-induced disruptions, and declining wild fish stocks are restricting the market growth. Regulatory restrictions, environmental concerns, and limited cold chain infrastructure in developing regions are further inhibiting the market growth. Overall, the seafood market is evolving toward a more responsible, technology-enabled, and health-driven future, with aquaculture and sustainability at the center of its long-term growth.

Facts & Figures

• Rising Health & Protein Awareness: Increasing consumer demand for protein-rich, low-fat, and heart-healthy diets is pushing seafood as a preferred protein source over red meat. For instance, according to FAO, seafood consumption per capita has doubled over the last 50 years. A global shift toward "clean eating" and functional foods has boosted seafood consumption, especially among millennials and health-conscious consumers.
• Expansion of Sustainable Aquaculture: With wild fish stocks declining, aquaculture is emerging as a sustainable solution to meet demand. For instance, in 2024, Iceland-based Laxey secured €40M and partnered with Skretting to scale its RAS operations, and AKVA also won a €20M contract to build grow-out facilities for Laxey.
• Government-Led Investment & Policy Support: Several governments are promoting domestic aquaculture through strategic investments, subsidies, and national sustainability programs. For instance, in October 2024, Oman launched a $1.2B aquaculture development initiative led by Aqua Biotech to boost sustainable fisheries and reduce imports.

Key Developments

• In February 2025, UAE’s Aqua Bridge Group announced a $461?M aquaculture farm and feed plant in Uttar Pradesh, showcasing cross-border investment and rural capacity-building.
• In January 2025, Saudi Fish Co. and UAE-based Aqua Bridge Farms signed a nine-month MoU to jointly develop aquaculture initiatives aligned with Vision?2030 goals.
• In January 2025, KVA Group received a €20?M contract for the second-phase module build-out in Laxey’s grow?out facility, demonstrating continued funding flow and confidence in RAS systems.
• In April 2024, Iceland’s land-based salmon farm Laxey raised €40?M and partnered with feed provider Skretting to scale RAS operations, a strong signal of investment into sustainable aquaculture.

Seafood Market Segmentation

Based on the type

• Fish
• Crustaceans
• Molluscs
• Lobsters
• Crabs
• Oysters
• Squid
• Others

Among the different types, the fish segment holds the largest market share in the market due to its widespread consumption, affordability, and high nutritional value. Fish varieties such as salmon, tuna, tilapia, and mackerel are staple proteins across both developed and emerging economies, appealing to health-conscious and budget-sensitive consumers alike. Additionally, fish are more adaptable to large-scale aquaculture production, ensuring a consistent supply throughout the year. In contrast, the oyster segment holds the smallest market share, mainly due to its niche appeal, higher cost, and limited consumption outside gourmet and premium markets.

Based on the form

• Fresh Seafood
• Frozen Seafood
• Canned Seafood
• Dried Seafood
• Others

The Frozen Seafood segment holds the largest market share in the market due to its longer shelf life, year-round availability, and convenience in transportation and storage. It caters to both retail and foodservice sectors, especially in regions where fresh seafood access is limited. Advances in freezing technology have preserved taste and nutritional value, increasing consumer acceptance. Frozen seafood also supports global trade by enabling large-scale exports. On the other hand, the dried seafood segment holds the smallest market share, as it caters to a more traditional and regional consumer base, with limited appeal in modern urban diets and global markets.

Based on the distribution channel

• Supermarkets/Hypermarkets
• Convenience Stores & Specialty Stores
• Online Sales Channel
• Others

Based on distribution channel, the supermarkets/hypermarkets segment holds the largest market share in the market. These outlets offer a wide variety of seafood, fresh, frozen, and canned, under one roof, supported by strong cold chain logistics and trusted sourcing practices. Consumers prefer these channels for quality assurance, promotional pricing, and convenient access to certified, ready-to-cook seafood. Additionally, their wide geographic presence, especially in urban areas, ensures consistent foot traffic. In contrast, the online sales channel, while rapidly growing, currently holds the smallest share due to concerns over freshness, delivery logistics, and trust in product quality, particularly in developing regions.

Based on the end user

• Household Consumption
• Foodservice Industry
• Industrial

The Household Consumption segment holds the largest market share in the market. This is driven by rising health consciousness, increasing at-home cooking trends, and the growing availability of frozen and ready-to-cook seafood products in retail channels. Consumers are incorporating seafood into regular diets for its nutritional benefits, particularly in urban areas where demand for lean protein is high. The COVID-19 pandemic also accelerated home consumption, a trend that continues with the popularity of meal kits and online grocery delivery. Meanwhile, the foodservice industry segment, though recovering strongly, holds a smaller share due to earlier pandemic-related disruptions and higher operational costs.