Australia Seafood Market

Australia Seafood Market Overview:

The Australia seafood market size reached USD 3.02 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 5.61 Billion by 2033, exhibiting a growth rate (CAGR) of 6.50% during 2025-2033. The market is fueled by growing demand among consumers for fresh, sustainable and healthy food options, rising health awareness related to seafood consumption, and an increasing demand for locally produced and premium food.

Australia Seafood Market Trends:

Sustainable Fishing Practices

There is growing focus towards sustainability in Australia's seafood industry, primarily driven by consumers and regulatory pressure. Overfishing, catch limits, and marine habitat protection have been pivotal in the preservation of biodiversity. Certification programs such as the MSC are becoming the norm and further encourage industry players to move towards sustainable operations. For instance, as of November 2024, over 35% of Australia's wild-caught seafood by volume holds MSC certification, reflecting the increasing adoption of sustainable fishing practices. Furthermore, eco-labeling ensures consumers buy products that are environmentally friendly, and this has placed consumers in a market environment where sustainability is no longer a trend but an expectation. This responsibility to source sustainably will also place Australia at the forefront of world leaders in sustainable seafood products, and this can assist in guaranteeing that fish stocks and fragile ecosystems are safeguarded for future generations.

Growth of Aquaculture

Aquaculture is emerging as a leading force in Australia's seafood market, fueled by the necessity to keep up with an increasing demand while taking pressure off wild fish stocks. According to the new data from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), the Australian fisheries and aquaculture production will increase its gross value by 0.5% to $3.56 Billion during 2023−24. With technology advances and better breeding methods, species such as salmon and barramundi are being cultivated more effectively, providing a reliable, high-quality supply of seafood. Aquaculture enhances food security and provide employment in coastal areas, further fueling its growth. The shift towards sustainable aquaculture practices guarantees long-term development while upholding environmental standards, thus being a major growth stimulator in Australia's seafood industry.

Australia Seafood Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on type, form and distribution channel.

Type Insights:

• Fish
• Shrimp
• Others

The report has provided a detailed breakup and analysis of the market based on the type. This includes fish, shrimp, and others.

Form Insights:

• Canned
• Fresh/Chilled
• Frozen
• Processed

A detailed breakup and analysis of the market based on the form have also been provided in the report. This includes canned, fresh/chilled, frozen, and processed.

Distribution Channel Insights:

• Off-Trade
  • Convenience Stores
  • Online Channel
  • Supermarkets and Hypermarkets
  • Others
• On-Trade

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes off-trade (convenience stores, online channel, supermarkets and hypermarkets, others) and on-trade.

Regional Insights:

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

The report has also provided a comprehensive analysis of all the major regional markets, which include Australia Capital Territory & New South Wales, Victoria & Tasmania, Queensland, Northern Territory & Southern Australia, and Western Australia.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Australia Seafood Market News:

• In August 2024, Tuna Australia member Walker Seafoods Australia announced partnership with renowned chef Neil Perry to launch a new product line of preserved local tuna for sale in Australian supermarkets. This collaboration marks a significant milestone in promoting sustainable seafood practices in Australia.
• In July 2024, Clean Seas Seafoods announced that it has 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. It improves efficiency, reduces waste, and enables remote feeding for 90% of operations, driving significant cost savings.

Australia Seafood Market Report Coverage:

Key Questions Answered in This Report:

• How has the Australia seafood market performed so far and how will it perform in the coming years?
• What is the breakup of the Australia seafood market on the basis of type?
• What is the breakup of the Australia seafood market on the basis of form?
• What is the breakup of the Australia seafood market on the basis of distribution channel?
• What is the breakup of the Australia seafood market on the basis of region?
• What are the various stages in the value chain of the Australia seafood market? 
• What are the key driving factors and challenges in the Australia seafood market?
• What is the structure of the Australia seafood market and who are the key players?
• What is the degree of competition in the Australia seafood market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Australia seafood market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Australia seafood market.
• Porter's five forces analysis assist 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 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.