Australia Fish and Seafood Market

Australia Fish and Seafood Market Size and Share: 

The Australia fish and seafood market size was valued at USD 3.9 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 5.9 Billion by 2033, exhibiting a CAGR of 4.7% from 2025-2033.  The market is growing steadily, fueled by evolving consumer preferences for nutritious and sustainably sourced products. Advancements in aquaculture, strong export demand, and government support for sustainable fishing practices are further propelling the market. Moreover, innovation in seafood alternatives and convenience-driven products supports expansion in domestic and international markets.

The Australia fish and seafood market is significantly fueled by rising consumer demand for sustainably sourced high-quality products. The growing health consciousness around the world has also heightened seafood’s popularity, which is prized for its high nutritional quality including omega-3 fatty acids, vitamins and minerals. Traceability systems, along with sustainability certifications, have enhanced consumer trust and contributed to market growth. Advancements in aquaculture and fishing practices have streamlined supply chains, ensuring the consistent availability of premium seafood. Moreover, advances in processing and packaging technologies have enhanced product quality and shelf stability to adapt to the changing needs of consumers which has further supported the growth of fresh, frozen, as well as value-added seafood products.

The growing foodservice sector, which comprises restaurants, cafes, and catering companies, is further driving the market growth. The surge in tourism, especially in coastal destinations, has fueled the appetite for locally sourced seafood as tourists seek fresh, authentic culinary experiences. Export opportunities to Asia and Europe, where Australian seafood is renowned for its premium quality, also remain contributing factors for continued growth in the market. South Australia, for example, exported over 6,000 tons of tuna to Japan in August 2024, worth $58 million, most of which were in the form of frozen products. In addition, local exporters shipped 124 tons of oysters and mollusks in the same period, generating nearly $5 million in export revenue.

Australia Fish and Seafood Market Trends: 

Growing Demand for Sustainable and Certified Seafood

Australia's fish and seafood market is experiencing increased consumer demand for sustainably sourced and certified products. This shift is driven by heightened awareness of environmental issues and overfishing. For instance, in November 2023, State and territory consumer affairs ministers announced an agreement for limited seafood labeling in restaurants, cafes, and clubs, which will take effect in 2025. Under the new policy, seafood will be labeled as Australian, imported, or mixed origin (AIM model), aligning eateries with seafood retailers, which already disclose the origin of their products. The Australian Marine Conservation Society (AMCS) stressed additional measures, emphasizing the need for labeling to include details such as the species name, fishing or farming methods, and the country of origin. This focus aligns with global trends, ensuring Australia remains competitive in the premium seafood segment while supporting the long-term health of marine ecosystems.

Rising Exports to Asian Markets

The Australian fish and seafood market is benefitting from rising exports to Asian markets, driven by high demand for premium-quality products such as tuna, lobster, and abalone. Countries like Japan, China, and South Korea view Australian seafood as a luxury item due to its freshness, sustainability, and stringent quality standards. This export growth is encouraging investment in processing facilities and cold-chain logistics to maintain quality and expand market share. Additionally, government initiatives are playing a crucial role in supporting this growth. For instance, in September 2024, the Australian Government launched the NEXDOC system to simplify seafood export documentation, supporting the USD 1.8 billion trade. The digital platform streamlines permits and certifications, reducing costs and manual processes. Exporters benefit from secure QR-coded certificates, faster approvals, and improved tracking. Part of a USD 322.9 million digital initiative, it enhances efficiency and strengthens Australia's reputation in global markets.

Increased Adoption of Technology in Aquaculture

The Australian aquaculture industry is being revolutionized by the uptake of advanced technology. Automated feeding, real-time water quality monitoring, and data analytics are helping improve productivity and sustainability across these systems. Recirculating aquaculture systems (RAS) are also on the rise, enabling fish to be farmed in controlled environments with lower environmental footprint. For example, in July 2024, Huon Aquaculture disclosed an investment worth $110 million to expand its freshwater Atlantic salmon nursery at Whale Point, Port Huon, Tasmania. The new RAS will grow larger fish on land. These innovations are increasing yields, cutting costs, and making sure supply flows to local and global markets. The growing level of investment from the Australian government and private sector in research and development is also helping to drive the uptake of these technologies, building on the positive global perception of Australia as a producer of clean, green, high-quality seafood.

Australia Fish and Seafood Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the Australia fish and seafood market, along with forecasts at the country and regional levels from 2025-2033. The market has been categorized based on product, form, and distribution channel.

Analysis by Product: 

• Fresh Fish
• Fresh Seafood
   

One of the leading segments in the Australian fish and seafood sector is fresh fish, propelled by local sourcing and strong consumer demand for quality, nutritious foods. In coastal areas, fish like barramundi, snapper, and tuna, are quite easily obtained from fishmongers, supermarkets, and are also sold in local seafood markets from the fisherman's boat directly to consumers. Australian households and restaurants favor fresh fish due to its superior taste, texture, and health benefits. Moreover, Australia's robust fishing sector, a sustainable approach toward marine products, along with a growing trend towards clean eating and organic food, continues to drive growth in the fresh fish sector.

Fresh seafood, including shellfish, crustaceans, and mollusks, is another key product segment in the Australian market. Both domestic consumption and export opportunities drive demand for fresh seafood. Products like prawns, oysters, and mussels are often sold live or chilled, which helps preserve their quality, and also helps to retain their delicate flavors. Fresh seafood is also featured heavily in Australian cuisine, especially at holidays and celebrations. With a greater focus on sustainability and traceable sourcing over the last decades, fresh seafood is coming to the forefront in the marketplace as consumers gravitate toward locally sourced, responsibly farmed, and wild-caught products.

Analysis by Form:

• Fresh
• Frozen
• Canned
• Cured
   

 Fresh fish and seafood remain the most popular form in the Australian market, primarily due to consumer demand for quality, tasteful, and healthy food. The segment holds strong position in the coastal regions, where seafood originates locally and is directly delivered into the local markets and restaurants. On the whole, fresh seafood is sold through specialist fishmongers, supermarkets, and local seafood markets. This is promoted by the proximity of Australia to the ocean and established fishing industries, which ensure supplies of fresh and sustainable produce. Consumer demand for freshness, supported by convenience-driven retail models, continues to drive this segment.

The frozen fish and seafood segment is accelerating on rising consumer convenience and shelf-life. It gives consumers and food service operators the flexibility of having to hold the product for long periods of time. Supermarkets and specialty retailers have responded by carrying frozen seafood selections usually pre-packaged for convenient use.  The frozen segment is also boosted by the export market, where frozen products are shipped globally. Technological advancements in freezing processes have also helped maintain the quality and nutritional value of frozen seafood, supporting its popularity among consumers.

Canned fish and seafood products, such as tuna, salmon, and sardines, have remained a stable segment within the Australian market, with a focus on affordability, convenience, and long shelf life. These products are popular in households and foodservice due to their versatility, as they can be used in a wide range of dishes from salads to pastas. The canned segment is also seeing growth as more consumers focus on sustainable sourcing, with eco-friendly packaging and traceability becoming key factors. Canned seafood appeals to budget-conscious consumers and has a strong presence in retail stores, especially for products like canned tuna, which is a household staple.

Cured fish and seafood products, such as smoked salmon, salted cod, and other preserved items, represent a niche yet growing segment in the Australian market. These products offer a unique flavor profile and longer shelf life, making them popular in premium foodservice establishments and specialty retailers. The cured segment benefits from the increasing consumer interest in traditional and artisanal food preservation methods, which align with broader trends toward gourmet and sustainable foods. The segment’s growth is also fueled by demand for high-quality, ready-to-eat seafood options that are perceived as both convenient and indulgent. 

Analysis by Distribution Channel: 

• Offline
• Online
   

The offline distribution channel for Australia's fish and seafood market remains crucial, particularly for traditional retail and foodservice sectors. Supermarkets, local fishmongers, and seafood markets continue to be dominant players, offering consumers fresh seafood in-store. Restaurants, cafes, and caterers also form a significant part of the offline distribution, with a growing emphasis on quality and sustainability. Additionally, the wholesale market plays a key role in supplying large quantities to retailers and foodservice operators. The offline sector relies heavily on established distribution networks, which ensure product availability and freshness, and it continues to cater to those who prefer in-person shopping experiences.

The online distribution channel for the Australian fish and seafood market has seen significant growth, driven by consumer convenience and the rise of e-commerce platforms. Major supermarkets, independent retailers, and specialized seafood distributors have expanded their digital presence, offering home delivery services and subscription models. The online market also caters to niche segments, including sustainably sourced and premium seafood products. Additionally, online seafood marketplaces have emerged, providing consumers with access to fresh, high-quality options directly from producers, increasing both national and international sales opportunities. As online shopping becomes more prevalent, convenience and product transparency continue to shape purchasing behavior.

Regional Analysis:

• Australia Capital Territory and New South Wales
• Victoria and Tasmania
• Queensland
• Northern Territory and Southern Australia
• Western Australia
   

The Australian Capital Territory (ACT) and New South Wales (NSW) represent a significant market for fish and seafood in Australia, driven by strong demand in urban centers like Canberra and Sydney. NSW has a diverse fishing industry, including both wild-caught and farmed seafood, with key ports such as Sydney and Eden supporting seafood production. The region has also seen a growing trend toward sustainable fishing practices and a focus on high-quality products like Australian lobsters and prawns. In recent years, seafood consumption has remained steady, supported by both local demand and exports to Asia.
Victoria and Tasmania play a crucial role in Australia's fish and seafood market, with Tasmania being renowned for its premium seafood products, including Atlantic salmon, oysters, and abalone. The state's clean waters and advanced aquaculture techniques make it a key producer for both domestic consumption and export markets, especially in Asia. Victoria, with its ports like Melbourne, has a vibrant seafood sector, benefiting from a diverse culinary culture and growing demand for sustainable, traceable seafood. Both regions are investing in sustainable fishing technologies, positioning them as leaders in the eco-friendly seafood sector.

Queensland is a significant player in the Australian fish and seafood market, driven by its vast coastline and rich marine biodiversity. The state is a major producer of prawns, tuna, and reef fish, with large-scale commercial fishing operations along its coast, particularly in the Great Barrier Reef region. Queensland's seafood industry is supported by both wild-caught fisheries and aquaculture, especially for prawns and barramundi. With a focus on sustainability and traceability, Queensland is well-positioned to meet the growing domestic demand and export opportunities, particularly in Asia and Europe, where Australian seafood is highly valued.

The Northern Territory and South Australia contribute to Australia's fish and seafood market through their unique aquatic ecosystems and specialized fisheries. The Northern Territory is known for its barramundi and mud crab, with a focus on sustainable wild-catch practices. South Australia, with its rich marine environment, is famous for its abalone, tuna, and kingfish production, alongside its growing aquaculture industry. The region has also been making significant strides in sustainable aquaculture practices, particularly for shellfish. Both regions are integral to the domestic seafood supply, as well as key exporters, especially to Asian markets.

Western Australia plays a crucial role in the Australian fish and seafood market, with a strong presence in both wild-caught and aquaculture sectors. The state is a major exporter of seafood, including Western rock lobster, abalone, and prawns. Its expansive coastline, abundant marine resources, and focus on sustainability have made it a leader in the Australian seafood industry. Perth's seafood trade hub and ports like Geraldton contribute to the state's high seafood exports, especially to China and other parts of Asia. Additionally, the state is investing in innovative fishing and aquaculture technologies to meet growing demand while maintaining eco-friendly practices. 

Competitive Landscape:

The competitive landscape of the Australia fish and seafood market is characterized by a mix of large-scale seafood companies, regional fishers, and aquaculture enterprises. Key players focus on sustainable sourcing, advanced processing technologies, and strong distribution networks to maintain market share.  For instance, in January 2024, Genics, sn Australian biotech firm, launched Shrimp MultiPath2.0, a cutting-edge technology for early detection of shrimp diseases. It identifies 18 pathogens in a single test, enhancing precision and efficiency. This innovation protects aquaculture health, prevents stock losses, and boosts farm profitability, positively impacting Australia's fish and seafood market through improved disease management and increased harvest value. Moreover, retail giants and specialty seafood stores compete for domestic market dominance, while the foodservice industry fuels demand for premium and fresh seafood products. Furthermore, collaboration between stakeholders ensures adherence to sustainability standards, further enhancing market competitiveness.

The report provides a comprehensive analysis of the competitive landscape in the Australia fish and seafood market with detailed profiles of all major companies.

Latest News and Developments: 

• In July 2024, Clean Seas Seafoods received an automatic feeder barge, "Eyre Spirit," valued at USD 6 million, at Port Adelaide. The barge is designed by Southern Ocean Solutions and built in Vietnam; hence, it will support yellowtail kingfish farming near Port Lincoln. It improves efficiency, reduces waste, and enables remote feeding for 90% of operations, driving significant cost savings.

Australia Fish and Seafood Market Report Scope: 

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Australia fish and seafood market from 2019-2033. 
• The research study provides the latest information on the market drivers, challenges, and opportunities in the Australia fish and seafood market. 
• Porter's Five Forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Australia fish and seafood industry and its attractiveness. 
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.