Market Insights Consumer Food Fish & Seafood

Processed Fish & Seafood - Spain

Spain

Revenue in the Processed Fish & Seafood market amounts to €3.07bn in 2024. The market is expected to grow annually by 4.58% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€30,060m in 2024).
In relation to total population figures, per person revenues of €64.75 are generated in 2024.
In the Processed Fish & Seafood market, volume is expected to amount to 286.00m kg by 2029. The Processed Fish & Seafood market is expected to show a volume growth of 2.7% in 2025.
The average volume per person in the Processed Fish & Seafood market is expected to amount to 5.3kg in 2024.

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

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Región

Comparación de regiones

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Analyst Opinion

The Processed Fish & Seafood Market in Spain is facing slow growth, influenced by factors such as consumer preference for fresh seafood, limited availability of raw materials, and strict regulations on the use of preservatives. Although the overall market growth is negligible, the demand for specific sub-markets, such as Canned and Dried & Smoked Fish, is expected to increase due to their longer shelf life and convenience. However, the Fish Fingers & Portions sub-market may see a decline in demand due to consumers' shifting focus towards healthier and sustainable options.

Customer preferences: Consumers in Spain have shown a growing interest in sustainable and eco-friendly seafood options. This trend is driven by a cultural appreciation for locally sourced and ethically produced food, as well as a growing concern for the environment. As a result, there has been a rise in demand for certified sustainable seafood products and a shift towards more environmentally friendly packaging. Additionally, there has been an increase in the popularity of plant-based seafood alternatives, reflecting a shift towards healthier and more environmentally conscious eating habits.

Trends in the market: In Spain, the Processed Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably sourced and environmentally friendly products. Consumers are increasingly seeking out products with the MSC (Marine Stewardship Council) certification, which guarantees that they are sustainably caught or farmed. This trend is expected to continue as consumers become more conscientious about the impact of their food choices on the environment. This has significant implications for industry stakeholders, who may need to shift towards more sustainable practices and invest in certifications to meet consumer demand.

Local special circumstances: In Spain, the Processed Fish & Seafood Market within The Food market is heavily influenced by the country's strong fishing industry and its Mediterranean location. This has led to a wide variety of traditional seafood dishes, such as paella and tapas, that are popular in Spain and have also influenced the demand for processed fish and seafood products. Additionally, Spain has strict regulations on the fishing and processing of seafood, ensuring high quality and sustainability, which has shaped consumer preferences and market dynamics.

Underlying macroeconomic factors: The Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market in Spain is heavily influenced by macroeconomic factors such as national economic health, global economic trends, fiscal policies, and other relevant financial indicators. Spain's strong economic growth in recent years has led to increased consumer spending and demand for processed fish and seafood products. Additionally, the country's favorable regulatory environment and investment in food processing infrastructure have also contributed to market growth. The growing health consciousness among consumers and the increasing popularity of seafood as a healthy protein source have further boosted the demand for processed fish and seafood in Spain. However, economic challenges such as high unemployment rates and fluctuations in global seafood prices could negatively impact market growth.

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.