September 5, 2024 – Globally, consumers opt for fish and seafood for their rich flavors, versatility, and health benefits, making them a popular choice in diverse cuisines. Innova’s 360 research into seafood industry trends highlights consumer preferences, product launches, and opportunities for innovation in the global seafood industry.
Seafood Product Launch and Sales Trends
Fish and seafood is the top subcategory in the global meat, fish and eggs category. This subcategory displays an average of 30% launches as a percentage of the meat, fish and eggs category over the past five years. This growth is supported by selections that undergo minimal cooking processes, such as drying, boiling, pre-frying, marinating, breading, and smoking wood varieties like birch, beech, hickory, and oak. Global fish and seafood sales have increased by 7% during the same period.
Among these launches, tuna stands out as the top product base, with 20% of new product launches in the past year, prepared in various formats such as loins, chunks, steaks, sashimi, fillets, and shredded options. This diverse range of tuna offerings caters to varying consumer tastes, indicating strong market potential in the global seafood industry.
Leading Markets in the Seafood Industry
Europe is the top region for fish and seafood launches, offering a diverse range that includes smoked trout fish, marinated herring fillets, various caviars, and indulgent and premium selections featuring gourmet preparations and premium quality ingredients.
Meanwhile, Asia Pacific leads with 67% of fish and seafood sales globally in the past year. In this region, halal options, selections prepared with varied sauces, fish ball ranges, and pre-fried choices offer consumers a wide range of fish and seafood options. Seafood industry trends research displays that both Asia Pacific and the Middle East and Africa display high innovation and value growth, with products inspired by regional recipes such as Mexican style tuna salad, Spanish style sardines, Mediterranean tuna burgers, and Japanese teriyaki salmon. These offerings highlight consumers’ growing interest in exploring ethnic flavors which might shape the global seafood market trends.
Top Companies and Brands
Aldi, Lidl, Carrefour, Spar, Auchan, Bolton Alimentari, and Metro are the top 7 companies for fish and seafood launches globally. These top 7 companies account for a total of 13% of launches over the past year.
Globally, Aldi leads in fish and seafood launches over the past year, driven by its top brands The Fishmonger, Golden Seafood, and Almare. The company’s focus on breaded and battered varieties, along with diverse sauce inclusions like herring fillets in dill, yogurt, curry, pineapple sauce, and cod fillets in watercress, mustard, lemon dill, Norwegian, and Bearnaise sauces, keeps its offerings attractive to consumers.
Claims and Positionings Trends
The top 5 claims are omega-3, source of protein, no additives or preservatives, indulgent and premium, and halal. Seafood industry trends research shows that Omega-3 is the top claim in Europe, the Middle East and Africa, and Latin America.
In Asia Pacific, there is a rising interest in natural, low/no/reduced fat, and low/no/reduced sodium claims. North American consumers prefer claims like gluten free, no trans fats, and low/no/reduced fat. Meanwhile, in Europe, DHA, heart health, and traditional claims are gaining popularity. In the Middle East and Africa, GMO free, gluten free, and natural claims are growing. These diverse claims preferences across the globe reveal that consumers are focusing more on health-related positioning in the global seafood industry.
Seafood Flavor Trends
Smoked is the top flavor in fish and seafood launches, followed by red tomato, chili, lemon, and garlic.
In North America, ginger, maple, and herbs flavors are on the rise. Seafood industry trends research displays that Asia Pacific consumers are inclined towards cheese, herbs, and Japanese teriyaki flavors. Consumers in Europe prefer salt and vinegar, dill, and Mediterranean flavors. Meanwhile, in Latin America, onion, herbs, and jalapeno chili flavors are gaining popularity.
What’s Next in Seafood Industry Trends?
Seafood industry trends research displays 3 in 5 consumers globally consume fish and seafood for its health benefits, leading to a rise in products with health claims. Brands focus on launching omega-3 rich options that support heart health and protein rich choices catering to health-conscious consumers.
With busy lifestyles driving demand for convenience, brands have an opportunity to innovate with ready-to-prepare versions of fish and seafood like skinless, boneless, and gutted options that can help consumers prepare their meals more quickly and easily.
Seafood industry trends research reveals that natural, free from and reductionism claims, and a diverse range of flavors are prominent in the global seafood market. Brands can explore cheese, beechwood smoked, onion, carrot, and herbs flavors for different culinary experiences. The global seafood market trends are likely to witness growth in health focused offerings and savory flavors to meet evolving consumer demands.
This article is based on our report, “Overview of Fish & Seafood – Global .” If you are interested in reading this report, feel free to request a demo.
You can do this by either booking a demo or using our Contact Form.
