PUBLISHER: IMARC | PRODUCT CODE: 1702071
PUBLISHER: IMARC | PRODUCT CODE: 1702071
The global fin fish market size reached USD 201.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 278.8 Billion by 2033, exhibiting a growth rate (CAGR) of 3.67% during 2025-2033.
Fin fish refers to a species of cartilaginous fish characterized by bony spines or rays protruding from the body. They are a rich source of phosphorus, calcium, and other minerals, such as iron, zinc, iodine, magnesium, and potassium. Snappers, salmon, tuna, milkfish, pompano, seabass, catfish, groupers, tilapia, and sea bass are some common fin fish types. Their regular consumption aids in improving cardiovascular health, brain function, eyesight, and skin, preventing oxidative stress to the thyroid gland, and repairing damaged tissues. Fin fish are cultivated in three types of environments, which include brackish, marine water, and freshwater. Their production also involves feeding, regular stocking, and conservation of aquatic life.
The significant growth in the food and beverage (F&B) industry across the globe is creating a positive outlook for the market. Fin fish is widely used for preparing various dishes, such as sandwiches, rice dishes, and pasta and are also used in salt herring, salmon, and salmon eggs. In line with this, the rising health consciousness and the increasing demand for protein-rich food among the masses is favoring the market growth. Apart from this, various technological innovations in fishing equipment that helps decrease the complexities and endeavors in fishing and aquafarming are providing an impetus to the market growth. Moreover, the widespread adoption of salmon, tuna, Maine sardines, and mackerel in ready-to-eat (RTE) meals due to the increasing working population, hectic schedules, and busy lifestyles is positively influencing the market growth. Other factors, including the rising demand for seafood cuisines, increasing expenditure capacities of consumers, and the implementation of various government initiatives supporting fish farming, are anticipated to drive the market toward growth.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Blue Ridge Aquaculture Inc., Cermaq Group AS (Mitsubishi Corporation), Eastern Fish Company, Leroy Seafood Group ASA (Austevoll Seafood ASA), Mowi ASA, P/F Bakkafrost, Stehr Group Pty Ltd., Tassal Group Limited, Thai Union Group PCL and Wanchese Fish Company (Cooke Inc.).