Market Insights Consumer Food Fish & Seafood

Processed Fish & Seafood - Peru

Peru

Revenue in the Processed Fish & Seafood market amounts to €0.88bn in 2024. The market is expected to grow annually by 5.68% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€29,750m in 2024).
In relation to total population figures, per person revenues of €25.64 are generated in 2024.
In the Processed Fish & Seafood market, volume is expected to amount to 112.20m kg by 2029. The Processed Fish & Seafood market is expected to show a volume growth of 5.3% in 2025.
The average volume per person in the Processed Fish & Seafood market is expected to amount to 2.8kg in 2024.

Key regions: Japan, United States, Philippines, Russia, China

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Processed Fish & Seafood market in Peru is experiencing minimal growth, influenced by factors such as increasing consumer health awareness and the convenience of online services. Sub-markets such as Canned, Dried & Smoked Fish and Fish Fingers & Portions also play a role in the overall market's growth rate.

Customer preferences: Peru's growing demand for processed fish and seafood can be attributed to shifting consumer preferences towards healthier and more convenient food options. With an increasing focus on health and wellness, consumers are opting for processed fish and seafood as a source of lean protein. Additionally, the rise of busy lifestyles and the need for convenient meal solutions are also driving the demand for processed fish and seafood products. This trend is expected to continue, as more consumers prioritize health and convenience in their food choices.

Trends in the market: In Peru, there is a growing trend of incorporating traditional Peruvian seafood dishes into processed fish and seafood products. This trend is driven by consumer demand for authentic and convenient options, as well as the increasing popularity of Peruvian cuisine globally. Additionally, there is a shift towards sustainable and traceable seafood products, with industry stakeholders implementing certifications and traceability systems. This trend presents opportunities for producers and exporters to cater to the growing demand for high-quality and sustainable Peruvian processed fish and seafood products in both domestic and international markets.

Local special circumstances: In Peru, the Processed Fish & Seafood Market is heavily influenced by the country's vast coastline and rich marine resources. This has led to a strong tradition of fishing and seafood consumption, with Peruvians incorporating seafood into their daily cuisine. Additionally, the country's strict regulations on sustainable fishing practices have resulted in a reliable and high-quality supply of processed fish and seafood products. These unique local factors contribute to the steady growth of the market in Peru, setting it apart from other markets in the region.

Underlying macroeconomic factors: The Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors in Peru. The country's economic stability, trade policies, and investment in infrastructure have a significant impact on the market's performance. Additionally, global economic trends and consumer spending patterns also play a role in shaping the demand for processed fish & seafood in Peru. The country's growing population and increasing disposable income are contributing to the rising demand for convenient, ready-to-eat seafood products. Furthermore, the government's efforts to promote sustainable fishing practices and improve the quality of seafood products are also driving market growth. Overall, Peru's favorable economic conditions and policies are creating a conducive environment for the growth of the Processed Fish & Seafood Market within The Food market.

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.