Fish & Seafood - China

China

Revenue in the Fish & Seafood market amounts to €90.05bn in 2024. The market is expected to grow annually by 7.78% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€90bn in 2024).
In relation to total population figures, per person revenues of €62.86 are generated in 2024.
In the Fish & Seafood market, volume is expected to amount to 5.81bn kg by 2029. The Fish & Seafood market is expected to show a volume growth of 7.1% in 2025.
The average volume per person in the Fish & Seafood market is expected to amount to 3.1kg in 2024.

Key regions: United Kingdom, United States, India, Canada, China

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Comparación de regiones

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Analyst Opinion

The Fish & Seafood market in China is experiencing subdued growth, influenced by factors such as rising health consciousness, increasing adoption of digital technologies, and the convenience of online services. This is evident in the sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood, which are all impacted by the same drivers. Despite the slower growth rate, the market is still expected to see significant expansion due to the country's large population and growing demand for healthy and convenient food options.

Customer preferences: As consumers in China become more health-conscious, there has been a growing demand for sustainably sourced fish and seafood products. This trend is fueled by a desire for healthier and more environmentally friendly options. With the rise of e-commerce platforms and online grocery shopping, consumers are also increasingly turning to online channels to purchase their seafood, seeking convenience and safety in light of the COVID-19 pandemic. Additionally, the younger generation is driving the trend towards seafood snacks and ready-to-eat options, reflecting a shift towards on-the-go and convenient food choices.

Trends in the market: In China, the Fish & Seafood Market within The Food market industry is experiencing an increasing demand for sustainable and eco-friendly seafood products. This trend is driven by the growing awareness of environmental issues and the desire for healthier food options. As a result, there has been a rise in the production and consumption of certified sustainable seafood, as well as investments in sustainable fishing practices. This trend is expected to continue in the coming years, presenting opportunities for industry players to differentiate themselves and meet consumer demands. However, it also poses challenges for smaller businesses to keep up with the sustainability standards and may lead to potential supply chain disruptions.

Local special circumstances: In China, the Fish & Seafood market is heavily influenced by its vast coastline and rich seafood culture. This has resulted in a wide variety of seafood options and a strong demand for fresh, locally-sourced products. Additionally, government regulations on sustainable fishing practices and food safety have a significant impact on market trends and consumer preferences. This has led to the rise of e-commerce platforms specializing in premium, traceable seafood products, catering to the growing demand for high-quality and safe seafood options in China.

Underlying macroeconomic factors: The Fish & Seafood Market in China is heavily impacted by macroeconomic factors such as economic growth, consumer spending, and government policies. China's strong economic growth and rising disposable income have led to an increase in demand for seafood products. The government's initiatives to promote sustainable fishing practices and improve food safety regulations have also contributed to the growth of the market. Additionally, China's large population and changing dietary habits, with a growing preference for healthy and high-quality food options, are driving the demand for fish and seafood products in the country.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.