Market Overview
The Europe fish market size reached USD 305.20 Billion in 2024. It is projected to grow to USD 410.80 Billion by 2033, exhibiting a CAGR of 3.35% during the forecast period of 2025-2033. Key growth drivers include rising health awareness, increased seafood consumption, demand for sustainable sourcing, convenience of frozen fish, expanding retail channels, rising disposable incomes, and adoption of eco-friendly packaging. For more details, see the Europe Fish Market (https://www.imarcgroup.com/europe-fish-market.
Study Assumption Years
- Base Year: 2024
- Historical Years: 2019-2024
- Forecast Period: 2025-2033
Europe Fish Market Key Takeaways
- Current Market Size: USD 305.20 Billion in 2024
- CAGR: 3.35%
- Forecast Period: 2025-2033
- The growth in plant-based seafood alternatives driven by lifestyle change towards health and sustainability is positively impacting the market.
- Frozen fish consumption is rising due to convenience, affordability, longer shelf life, and technological advances like flash freezing.
- Increasing emphasis on sustainable fishing practices, responsible sourcing, and eco-friendly certifications such as MSC strengthens market share.
- Online grocery shopping facilitates consumer access to frozen fish, boosting market demand.
- European nations are enforcing tougher regulations to protect marine ecosystems, promoting sustainable fisheries and fish farming technologies.
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Market Growth Factors
Growth in Plant-Based Seafood Alternatives
The Europe fish market outlook is anticipated to be driven by the increasing demand for plant-based seafood alternatives, attributed to the growing consumer preference for healthy and sustainable food products. Plant-based seafood alternatives are made using ingredients such as seaweed, soy, and algae and are a sustainable food with a lower carbon footprint. The report states that Nestle and other companies launched plant-based fish products across the European region in 2023, as investment in research and product development for taste, texture and quality increases, driven by consumer desires to protect the ocean from overfishing and by the increase in flexitarian and plant-based eating in Europe and North America.
Surge in Frozen Fish Consumption
Frozen fish consumption has rapidly increased as the technology allows high quality and flavor seafood to be inexpensive without spoilage for busy consumers. Techniques have been developed to freeze fish so that the texture and nutrients are preserved. Stores sell more frozen products, and frozen fish markets are increased by online grocery sales. The EU-UK Trade and Cooperation Agreement allows trade in sustainable fish stocks. Frozen fish usually has a longer shelf life in helping to reduce food waste.
Focus on Sustainable Fishing Practices
The fish market in Europe grows because sustainable fish sourcing and fishing methods are used more, with environmentally aware consumers increasingly choosing fish products obtained using ethical fishing methods and sold under the Marine Stewardship Council (MSC) label. Traceability schemes for sustainably sourced fisheries are being used by European retailers and producers. Policies to protect marine ecosystems and fish stocks have spurred aquaculture technologies for fish production such as land-based farms. For instance, Graal is a Polish company with multiple production and distribution sites employing 2200 focused on production sustainability standards.
Market Segmentation
Fish Type
- Inland Fishes:
- Indian Major Carps, Pangasius, Exotic Carps, Clarias, Anabas, Rupchanda, Tilapia, Seabass, Others
- This segment includes various inland fish species commonly consumed and farmed throughout Europe.
- Marine Fishes
- Marine fishes form a significant part of the seafood market, including multiple varieties sourced from coastal and oceanic regions.
- Shrimps
- The shrimp segment comprises various species of shrimps popular for culinary use.
- Scampi
- Scampi is a specific crustacean category distinct in size and market demand within the seafood industry.
Product Type
- Fresh
- Frozen
- Canned
- Others
- This classification separates fish products by processing type, highlighting consumer preferences for freshness, preservation, and convenience.
Distribution Channel
- Retail
- Institutional
- These channels indicate points of sale with retail serving individual consumers and institutional supplying large-scale buyers like restaurants.
Sector
- Organised
- Unorganised
- The sector classification differentiates market players by formal structured enterprises versus informal or small-scale operations.
Regional Insights
Dominant regions identified include Germany, France, United Kingdom, Italy, Spain, and others. The report provides comprehensive regional market analyses but specific statistical market shares or CAGR by region are not explicitly stated in the source.
Recent Developments & News
In September 2024, the German dairy leader Unternehmensgruppe Theo Müller obtained approval from Polish competition regulators to acquire seafood manufacturer Graal, enhancing its position in the European fish and seafood sector. Additionally, in December 2023, the European Union and the United Kingdom agreed on fishing opportunities for 2024, covering more than 85 Total Allowable Catches in the Northeast Atlantic, valued around €1 billion for the EU fleet.
Key Players
- Unternehmensgruppe Theo Müller
- Graal
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
