United Kingdom (UK) Seafood Market Research Report, 2029

The UK seafood market is a dynamic ecosystem influenced by a confluence of factors, including Brexit, sustainability, consumer preferences, and geopolitical tensions. The departure from the EU has reshaped trade dynamics, with increased bureaucracy and tariffs impacting supply chains and costs. Yet, it has also spurred innovation, as businesses adapt to new markets and forge alternative partnerships. Sustainability has emerged as a paramount concern, with consumers demanding transparency and traceability. The Marine Stewardship Council (MSC) certification has gained prominence, driving demand for sustainably sourced seafood. Moreover, the UK's growing interest in healthy and nutritious diets has boosted consumption of seafood, particularly among health-conscious consumers. However, inflationary pressures and rising energy costs have squeezed profit margins, necessitating operational efficiency and cost-reduction strategies. Recent outbreaks of diseases like avian influenza have disrupted supply chains and elevated prices, underscoring the industry's vulnerability. Despite these challenges, the UK seafood market remains resilient, with a strong focus on value-added products, exports, and technological advancements. According to the research report "The United Kingdom Seafood Market Research Report, 2029," published by Actual Market Research, the UK Seafood market is projected to add more than 1 Billion USD from 2024 to 2029. On one hand, it benefits from a long history of fishing and a strong consumer preference for seafood. However, the industry faces numerous challenges, from environmental concerns to economic uncertainties. Several factors drive the UK seafood market. The growing awareness of the health benefits of seafood has led to increased consumption. People are recognizing the importance of omega-3 fatty acids and lean protein, making seafood a popular choice. The UK's diverse coastline offers a rich variety of fish and shellfish, catering to different tastes and preferences. This diversity helps to maintain consumer interest. Furthermore, the UK's reputation for high-quality seafood products is a significant driver. Consumers trust the provenance and freshness of British seafood, which commands premium prices. The country's strong food service industry, including restaurants and pubs, relies heavily on seafood as a menu staple One major issue is the decline in fish stocks due to overfishing and climate change. This has led to restrictions on fishing quotas and increased costs for fishermen. Additionally, the UK's departure from the European Union has introduced new trade barriers and complexities for the seafood industry, affecting supply chains and export markets. Economic conditions also impact the market. Fluctuations in fuel prices affect the cost of fishing operations, while changes in consumer spending power influence demand. Moreover, the seafood industry competes with other protein sources, such as poultry and meat, for consumer spending. Another challenge is ensuring the sustainability of the seafood supply. Consumers are increasingly concerned about the environmental impact of their food choices. The industry must demonstrate its commitment to sustainable fishing practices and reduce its carbon footprint to maintain consumer trust.

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The UK seafood market is divided into farm-raised and wild-caught segments. Farm-raised seafood, often referred to as aquaculture, has grown significantly in recent years due to increased consumer demand and concerns about overfishing. Salmon, mussels, and oysters are popular farm-raised varieties in the UK. On the other hand, wild-caught seafood, sourced from the surrounding seas, is a traditional and cherished part of the British diet. Cod, haddock, and prawns are common examples of wild-caught seafood. The UK seafood market also differentiates between processed and fresh seafood. Processed seafood includes a wide range of products, such as smoked salmon, fish fingers, and canned tuna. This segment caters to convenience-seeking consumers and often involves value-added processes like smoking, curing, or canning. Fresh seafood, on the other hand, is typically sold whole or as fillets and is highly prized for its taste and quality. The demand for fresh seafood is influenced by factors like seasonality, consumer awareness of sustainable sourcing, and the availability of high-quality products. The UK seafood market offers a diverse range of seafood types. Fish, the most prominent category, includes both freshwater and saltwater varieties. Cod, haddock, salmon, and tuna are popular choices. Crustaceans, such as prawns, crabs, and lobsters, are prized for their delicate flavor and texture. Molluscs, including mussels, oysters, and scallops, are enjoyed for their unique taste and versatility. Supermarkets and hypermarkets dominate the market, offering a wide range of fresh, frozen, and processed seafood products to a mass consumer base. These retailers often have strong buying power, enabling them to negotiate favorable terms with suppliers and offer competitive prices. Convenience stores, on the other hand, cater to the on-the-go consumer, providing a limited selection of ready-to-eat or pre-prepared seafood options. Specialty seafood stores, such as fishmongers, offer a curated selection of fresh and high-quality seafood, targeting consumers who prioritize taste, freshness, and sustainability. The growth of online grocery shopping has led to the emergence of online seafood sales, providing consumers with convenient access to a variety of products. Finally, the otherscategory encompasses traditional wholesale markets, where seafood is sold in bulk to restaurants, hotels, and other foodservice businesses, as well as direct sales from fishermen to consumers, often through farmers' markets or community-supported fisheries. Frozen seafood, the largest category, offers convenience and a wide variety of options, from classic cod and haddock to exotic shrimp and salmon. This segment caters to both retail and foodservice channels, with a particular focus on value-added products like breaded fish fillets and seafood mixes. Salted seafood, a traditional British staple, enjoys a resurgence in popularity, driven by growing interest in artisanal and gourmet products. This category includes iconic items like smoked haddock and kippers, as well as a range of cured fish and shellfish. Dried seafood, though smaller, has a dedicated following, with products like cod roe and seaweed gaining traction among health-conscious consumers. Smoked seafood, particularly salmon and mackerel, is a premium segment with strong appeal to discerning palates.

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Nikita Jabrela

Business Development Manager

Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Seafood market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Source • Farm Raised • Wild Caught

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By Form • Processed • Fresh By Type • Fish • Crustaceans • Molluscs • Others (sea cucumbers, sea urchins,) By Distribution Channel • Supermarkets/Hypermarkets • Convenience Stores • Specialty Stores • Online Store • Others (wholesale markets, direct sales from fishermen) By Category • Frozen Seafood • Salted Seafood • Dried Seafood • Smoked Seafood • Others (canned or pickled seafood) The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Seafood industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry. Keywords: Seafood, Farm Raised, Wild Caught, Processed, Fresh, Fish, Crustaceans, Molluscs, sea cucumbers, sea urchins, Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Store, Wholesale markets, direct sales from fishermen, Frozen Seafood, Salted Seafood, Dried Seafood, Smoked Seafood, canned or pickled seafood