United Kingdom Seafood Market Insights Forecasts to 2033

• The U.K. Seafood Market Size was valued at USD 2.95 Billion in 2023.
• The Market Size is Growing at a CAGR of 1.28% from 2023 to 2033
• The UK Seafood Market Size is Expected to Reach USD 3.35 Billion by 2033

The U.K. Seafood Market Size is Anticipated to Reach USD 3.35 Billion by 2033, growing at a CAGR of 1.28% from 2023 to 2033.

Market Overview

Seafood is defined as food that comes from the sea and is divided into three categories: fish, crustaceans, and mollusks. People are now compelled to pay more attention to their overall health due to shifting lifestyles and growing awareness, and seafood offers numerous health advantages, which has contributed to the expansion of the UK seafood industry. A wide range of fish and shellfish are available along the UK's varied coastline to suit a range of palates. This variety contributes to keeping customers interested. Another important factor is the UK's reputation for producing high-quality seafood. British seafood fetches high costs because consumers trust its authenticity and freshness. The market for seafood is expanding due to the UK's advantageous position, simple accessibility, and rising knowledge of the health advantages of seafood.

Report Coverage

This research report categorizes the market for the UK seafood market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United Kingdom seafood market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the U.K. seafood market.

Driving Factors

The UK is home to a variety of fish species, and the industry is very important to the national economy. The North Sea borders this island nation on the east, while the Atlantic Ocean borders it on the west. The most often captured fish species in the United Kingdom are mackerel and herring. The UK seafood market is expanding due to the need for high-quality fish products and sustainable fishing practices, which is bolstered by the nation's advantageous geographic location, abundant marine resources, and convenient seafood availability. Additionally, the largest fish consumers in the UK are between the ages of 50 and 75, who spend up to 3.3 British pounds a week on fish products. On the other hand, people under 30 spend an average of only 1.8 British pounds. The demand for premium seafood products in the UK market is driven by the substantial spending by older adults. Furthermore, consumption of seafood has increased in the UK as a result of greater understanding of its health advantages. As more people in the UK realize how important lean protein and omega-3 fatty acids are, seafood is becoming a popular option.

Restraining Factors

The expansion of the seafood market in the UK is expected to be constrained by an increase in illicit fishing, which is causing a decline in fish populations and a rise in contaminated water. Moreover, rising seafood prices may limit the expansion of the worldwide sector. Transport cost increases may impede the growth of the seafood sector. Increased use of preservatives that are bad for human health can impede the growth of the UK industry.

Market Segmentation

The UK seafood market share is classified into type and form.

• The fish segment is expected to hold the greatest market share through the forecast period.    

The U.K. seafood market is segmented by type into mollusca, fish, and crustaceans. Among these, the fish segment is expected to hold the greatest market share through the forecast period. The nutritional advantages of fish, which are a significant source of omega-3 and iodine, are the reason for the segment's growth in the upcoming years.

• The fresh segment is anticipated to hold a significant share of the United Kingdom Seafood market during the forecast period.

Based on the form, the UK seafood market is divided into processed and fresh. Among these, the fresh segment is anticipated to hold a significant share of the United Kingdom seafood market during the forecast period. The growing demand for natural products over processed ones is responsible for the segment's expansion in the examined timeframe.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the U.K. seafood market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Austevoll Seafood ASA
• Maruha Nichiro Corporation
• Sysco Corporation
• Thai Union Group PCL
• Seafish
• Young's Seafood Limited
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In August 2024, the businesses and assets of Devon-based crab processor Blue Sea Food Company have been purchased by UK-based seafood importer and processor New England Seafood International (NESI) from Kroll Advisory, which was designated as the organization's administrators.

Market Segment

This study forecasts revenue at the UK, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United Kingdom Seafood Market based on the below-mentioned segments:

United Kingdom Seafood Market, By Type

• Mollusca
• Fish
• Crustaceans

United Kingdom Seafood Market, By Form

• Processed
• Fresh