The global seafood industry is undergoing significant transformation, driven by sustainability efforts, technological advancements, and evolving consumer preferences. As demand for seafood continues to rise, market forecasts indicate steady growth, with the industry expected to expand from $252.67 billion in 2024 to $270.43 billion in 2025, reflecting a 7.0% compound annual growth rate (CAGR).
Key Market Drivers
Sustainability Initiatives – With growing concerns over overfishing and environmental impact, businesses are adopting recirculating aquaculture systems (RAS) and integrated multi-trophic aquaculture (IMTA) to ensure responsible seafood production.
Technological Advancements – Innovations in cold chain logistics and seafood processing are improving efficiency and reducing waste, making seafood more accessible to global markets.
Changing Consumer Preferences – The rise of convenience foods and culinary diversity is fueling demand for ready-to-eat seafood products, particularly in urban areas.
Live Seafood Market Growth
Live seafood, including shellfish such as lobsters and oysters, is experiencing increased demand. The market is projected to grow from $67.4 billion in 2025 to $118.8 billion by 2034, driven by premium dining experiences and the expansion of seafood exports.
Challenges and Opportunities
While the industry faces challenges such as climate change and supply chain disruptions, there are also opportunities for growth through alternative seafood sources, including plant-based and lab-grown seafood options. These innovations aim to meet consumer demand while reducing environmental impact.
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