Asia-Pacific Seafood Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030

Asia-Pacific Seafood Market Analysis

The Asia-Pacific Seafood Market size is estimated at 503.8 billion USD in 2025, and is expected to reach 533.2 billion USD by 2030, growing at a CAGR of 1.14% during the forecast period (2025-2030).

The Asia-Pacific seafood industry is experiencing significant shifts in consumer behavior and consumption patterns, driven by changing dietary preferences and increasing health consciousness. Modern consumers are gradually adopting more pescatarian lifestyles, particularly among the younger demographic. This trend is evidenced by the fact that in 2022, per capita fish consumption doubled compared to fifty years ago, highlighting the growing importance of seafood in Asian diets. The rising middle-class population across the region has led to increased demand for premium and value-added marine products. Consumer preferences are increasingly shifting toward products that offer convenience while maintaining nutritional value, driving innovation in product development and packaging.

The industry's infrastructure and supply chain capabilities have undergone substantial modernization to meet evolving market demands. Cold chain logistics have seen significant expansion, with China alone reaching a cold storage warehouse capacity of 180 million cubic meters in 2022. This expansion has enabled better preservation of product quality and extended shelf life, supporting the growth of frozen and processed seafood segments. The food service sector has also experienced remarkable growth, with the number of food establishments reaching 9.7 million restaurants by 2022, creating new channels for wholesale seafood distribution and consumption.

Digital transformation is reshaping the Asian seafood market landscape, with technology adoption accelerating across the value chain. In 2022, approximately 2.9 billion people across Asia-Pacific were connected to mobile internet, facilitating the growth of e-commerce and digital marketplace platforms for seafood products. Leading companies are implementing advanced technologies for traceability and quality control, with satellite technology being deployed for monitoring commercial fishing activities and supply chain management. The integration of digital platforms has enabled direct-to-consumer models and improved transparency in sourcing and distribution.

Sustainability has become a central focus in the Asia-Pacific seafood industry, with increasing emphasis on responsible fishing practices and aquaculture development. Vietnam's aquaculture sector demonstrated this commitment to sustainable growth, achieving an output of 5.1 million tons in 2022, representing a 6.3% increase from the previous year. Industry stakeholders are investing in innovative farming techniques and implementing stricter quality control measures. Organizations are partnering with technology providers to develop species identification technology and improve resource management systems, while governments are strengthening regulations to combat illegal fishing practices and promote sustainable aquaculture development.

Asia-Pacific Seafood Market Trends

Southeast Asian countries account for the major production share

• Fish production in the region grew by 3.99% from 2017 to 2022. Asia has dominated the aquaculture industry for the past 20 years, with Southeast Asia leading the segment. Indonesia is Southeast Asia’s top producer of aquaculture, accounting for around 50% of regional aquaculture production in general. Vietnam, the Philippines, and Thailand are also major producers of aquaculture in the region. Indonesia is also the regional leader when it comes to brackish water and mariculture culture, particularly in shrimp production. When it comes to fresh-water aquaculture culture, Vietnam leads the way, followed by Indonesia.
• In 2022, China's fish production grew by 6.86% compared to 2021. Pond production accounted for more than half of all aquaculture production in China, with reservoirs that house cage systems making up 28.8% of the total and rivers making up 3.49% in 2022. In 2022, the Chinese government launched its 14th five-year National Fisheries Development Plan (NFDP), which aims to produce 69 million tons of aquatic products by 2025. This indicates that China’s vast fishing sector will continue to grow.
• India's fish production reached a new record high of 8990 million tons in 2022. Inland fish production, mainly in the form of aquaculture, saw a dramatic increase. In 2000-2001, inland fish production was 28.23 lakh tons, and in 2021-2022, it increased to 121.21 lakh tons, increasing by 400%. The increase in inland fish production is a result of concerted efforts by fisheries scientists and central and state governments, as well as the commitment of fishermen, fish farmers, and entrepreneurs.

Price growth can majorly be attributed to rising supply chain costs

• The price of fish experienced significant changes in the Asia-Pacific region, growing by 6.53% in 2022 compared to 2017. In China, the fish segment increased its share of the overall category as it is widely popular among Chinese households and can be easily cooked at home, unlike crustaceans, mollusks, and cephalopods. Consumers are willing to pay a premium price for fish and seafood products that they perceive to be of good quality, natural, safe, and healthy. In 2022, the prices of silver carp fish started from USD 0.9/kg, and turbot fish prices started from USD 12/kg. Common species like tilapia also saw a growth in prices. The prices were raised to encourage fish sales, allowing farmers to repay loans for feed costs. Some farmers also expected a higher price in the future and held the stocks, pushing the price higher.
• In India, seafood is considered an important part of a healthy and balanced diet by most consumers. During the 2nd quarter of 2022 in India, fish-catching activities were reduced due to an increase in sea temperature, coupled with a rise in fuel prices. Thus, the supply of fresh fish reduced drastically, leading to a 20-30% rise in prices for both premium and common species. In India, the prices of major species during the 2nd quarter of 2022 were USD 2.64/kg for mackerel and sardine, USD 13.21/kg for white pomfret, and USD 14.53/kg for seer. Australian seafood prices climbed to record highs due to the continued effects of supply chain issues and labor shortages. In 2022, the price of salmon increased by as much as 30%, reaching USD 34.05/kg compared to the previous year. Queensland fish prices remained competitive and had good value, with wild-caught Queensland northern kingfish at USD 18.18/kg and large wild-caught tigerfish at USD 23.60/kg in 2022.

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

Segment Analysis: By Type

Fish Segment in Asia-Pacific Seafood Market

Fish dominates the Asia-Pacific seafood market, accounting for approximately 72% of the total market value in 2024. This substantial market share is driven by the rapid increase in disposable income across the region, as Asian consumers have increased their spending on high-quality, value-added fish products. The segment's growth is supported by the expansion of aquaculture, particularly in Southeast Asian countries, with Indonesia leading the segment and accounting for around 50% of regional aquaculture production. The widespread availability of fish through both modern retail channels and traditional markets, coupled with its relatively affordable price point compared to other seafood types, has helped maintain its dominant position. Additionally, the increasing adoption of frozen and processed fish products, driven by technological advancements in flash freezing and preservation methods, has further strengthened the segment's market presence.

Shrimp Segment in Asia-Pacific Seafood Market

The shrimp segment is projected to be the fastest-growing category in the Asia-Pacific seafood market, with an expected CAGR of approximately 2% during 2024-2029. This growth is primarily driven by strong consumer demand in both retail and catering sectors, particularly in China, where demand is increasingly being met through imports. The segment's expansion is supported by technological advancements in shrimp farming and processing, leading to improved quality and consistency in supply. The rising popularity of value-added shrimp products, including ready-to-cook and processed varieties, is attracting younger consumers and urban populations. Additionally, the increasing adoption of sustainable aquaculture practices and certification standards is enhancing consumer confidence in farmed shrimp products, further driving market growth.

Remaining Segments in Asia-Pacific Seafood Market

The other seafood segment, which includes crabs, mollusks, crustaceans, and lobsters, plays a vital role in diversifying the Asia-Pacific seafood market. This segment caters to premium market segments and specialty cuisine requirements across the region. The demand for these products is particularly strong in high-end restaurants and luxury hospitality sectors, where they are valued for their unique flavors and culinary versatility. Fresh and chilled varieties within this segment are especially popular in coastal regions, while processed and frozen formats are gaining traction in inland markets. The segment also benefits from the growing trend of experiential dining and increasing consumer interest in trying new seafood varieties, particularly among urban consumers with higher disposable incomes.

Segment Analysis: By Form

Frozen Segment in Asia-Pacific Seafood Market

The frozen seafood segment dominates the Asia-Pacific seafood market, accounting for approximately 60% of the total market value in 2024. This significant market share is driven by the increasing adoption of advanced freezing technologies like flash freezing, which helps preserve freshness and extend shelf life. The segment's growth is supported by the expansion of cold chain infrastructure across the region, particularly in China, where cold storage warehouse capacity has seen substantial increases. Consumer preference for frozen seafood is also influenced by its convenience, longer shelf life, and year-round availability of various species, including salmon, shrimp, and crabs, regardless of seasonal constraints. The popularity of frozen seafood is particularly strong in the retail sector, where the availability of ready-to-eat and ready-to-cook options caters to the growing demand for convenience foods among urban consumers.

Processed Segment in Asia-Pacific Seafood Market

The processed seafood segment is projected to exhibit the strongest growth in the Asia-Pacific market, with an expected CAGR of approximately 2% during 2024-2029. This growth is being driven by significant investments in seafood processing infrastructure, including the development of new processing facilities and technology upgrades across the region. The segment's expansion is supported by innovations in ready-to-eat seafood products that address concerns related to safety and quality certifications. The increasing adoption of value-added processed seafood products is particularly notable among urban consumers who seek convenient, high-quality options. Manufacturers are focusing on developing new processing techniques and product formats to meet evolving consumer preferences, while also investing in modern packaging solutions to extend shelf life and maintain product quality.

Remaining Segments in Form Segmentation

The fresh seafood and canned seafood segments continue to play important roles in the Asia-Pacific seafood market. The fresh seafood segment maintains its appeal among traditional consumers who prefer freshly caught seafood, particularly in coastal regions and local markets. This segment is supported by improving cold chain logistics and last-mile delivery capabilities. The canned seafood segment serves as a convenient and affordable option for many consumers, offering extended shelf life and easy storage. Both segments are seeing innovations in packaging and preservation techniques to maintain product quality and meet changing consumer preferences. The segments are also benefiting from the expansion of modern retail channels and the growing adoption of online seafood delivery services across the region.

Segment Analysis: By Distribution Channel

On-Trade Segment in Asia-Pacific Seafood Market

The on-trade distribution channel dominates the Asia-Pacific seafood market, accounting for approximately 49% of the total market value in 2024. This significant market share is driven by the strong recovery in foodservice sales and increasing consumer spending at restaurants and food establishments. Regional restaurants have successfully diversified their menus to include both traditional and healthier seafood options, accommodating a wider range of dietary preferences. The segment's growth is particularly notable in China, where the number of foodservice outlets increased significantly, offering various seafood dishes through both dine-in and delivery options. The rise in disposable income across the region has led to increased frequency of dining out, with countries like Thailand and South Korea showing high rates of foodservice visits, where 35-38% of consumers visit foodservice outlets at least once a week.

Online Channel Segment in Asia-Pacific Seafood Market

The online distribution channel is projected to be the fastest-growing segment in the Asia-Pacific seafood market, with an expected CAGR of approximately 6% during 2024-2029. This rapid growth is driven by increasing digitalization in trade and retail, with the emergence of omnichannel strategies and evolving customer demands. Supermarkets and hypermarkets are increasingly adopting digital platforms to offer products with contactless delivery options. The segment's expansion is supported by the region's large e-commerce user base, with around 2 billion users in Asia. Online retailers are enhancing their existing operating models through strategic partnerships with supermarket retailers across the region, leading to improved operational efficiency, higher service levels, and better quality controls for enhanced customer experience. The growth is particularly strong in China, which leads the online seafood sales with a significant market share.

Remaining Segments in Distribution Channel

The remaining distribution channels in the Asia-Pacific seafood market include traditional brick-and-mortar segments such as convenience stores, supermarkets, and hypermarkets, along with other retail formats. Convenience stores play a crucial role in providing easy access to seafood products, particularly in urban areas, with many stores incorporating prepared food items to meet growing consumer demand for ready-to-eat options. Supermarkets and hypermarkets remain significant channels, offering a wide variety of fresh, frozen, and processed seafood products, while continuously innovating their offerings with cooking guidance and meal ideas. These traditional channels are evolving by integrating technology and sustainable practices to enhance the shopping experience and meet changing consumer preferences.

Asia-Pacific Seafood Market Geography Segment Analysis

Asia-Pacific Seafood Market in China

China continues to dominate the Asia-Pacific seafood market, commanding approximately 49% of the total market value in 2024. The country's seafood industry benefits from its extensive coastline and well-developed aquaculture infrastructure. The higher seafood consumption is primarily driven by rising consumer perceptions of seafood as a healthy protein source, particularly among the growing middle-class population with increasing disposable incomes. The Chinese government's commitment to sustainable fishing practices and aquaculture development has strengthened the domestic market. The country's 14th Five-Year National Fisheries Development Plan demonstrates its dedication to expanding the sector while maintaining ecological balance. The popularity of high-end supermarkets and growing consumer interest in varied, healthy diets has led to increased demand for premium seafood products. Additionally, China's advanced cold chain infrastructure and processing systems have enabled wider distribution and longer shelf life for seafood products, making them more accessible to inland consumers.

Asia-Pacific Seafood Market in India

India's seafood market is poised for remarkable growth, with projections indicating a robust growth rate of approximately 2% from 2024 to 2029. The country's extensive coastline and well-established fishing industry provide a strong foundation for market expansion. The government's proactive approach through initiatives like the Pradhan Mantri Matsya Sampada Yojana has been instrumental in modernizing the sector and improving production capabilities. The market is witnessing a significant shift in consumer preferences, with increasing awareness about the health benefits of seafood driving demand across urban and semi-urban areas. The development of better infrastructure, including cold storage facilities and improved transportation networks, has enhanced the distribution efficiency of seafood products. The rise of organized retail and e-commerce platforms has made seafood more accessible to inland consumers. Furthermore, the integration of technology in aquaculture practices and processing facilities has improved product quality and consistency, meeting the growing consumer demand for high-quality seafood products.

Asia-Pacific Seafood Market in Japan

Japan's seafood market reflects the country's deep-rooted cultural connection with marine products and sophisticated consumer preferences. The market has evolved to address changing consumer behaviors, particularly among younger generations, through innovative product offerings and convenient packaging solutions. National and local government organizations have implemented strategic initiatives to promote seafood consumption, including partnerships with schools to incorporate seafood into lunch programs. The country's advanced processing and distribution infrastructure enables efficient handling of both domestic and imported seafood products. Japanese consumers' increasing preference for convenience has led to the growth of ready-to-eat and processed seafood segments. The market has also witnessed significant developments in sustainable fishing practices and traceability systems, addressing growing consumer concerns about environmental impact and food safety. The retail sector has adapted by offering diverse product ranges, from traditional sashimi-grade fish to innovative ready-to-cook seafood meals.

Asia-Pacific Seafood Market in Other Countries

The seafood markets in other Asia-Pacific countries, including Indonesia, Malaysia, South Korea, Australia, Thailand, Vietnam, and the Philippines, each demonstrate unique characteristics shaped by their local preferences and infrastructure capabilities. These markets are experiencing varying degrees of modernization in their seafood supply chains and retail networks. The growth is primarily driven by increasing urbanization, rising disposable incomes, and growing awareness of seafood's nutritional benefits. Several countries are investing in aquaculture development and sustainable fishing practices to ensure long-term market stability. The expansion of modern retail formats and cold chain infrastructure has improved product accessibility and quality across these markets. Additionally, the growing influence of e-commerce and digital platforms has transformed how consumers purchase seafood products. These countries are also witnessing increased demand for value-added and processed seafood products, reflecting changing consumer lifestyles and preferences.

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