Seafood Has a Volume Problem, Not a Money Problem

Europe is spending more on seafood. They are just eating less of it.

EU seafood spending hit €62.8 billion in 2023-24, up 4% for the third straight year. Sounds healthy. Then you look at the plate. Consumption fell 3% to 22.9kg per head, with wild-caught at 16.4kg, the lowest level in a decade.

Tuna dropped 9%. Salmon fell 5%. Meanwhile Alaska pollock rose 7% and herring climbed 12%. The mix is shifting.

Part of the story is supply. Wild catch is stagnant or declining, while aquaculture offers steady, year-round product that retailers can actually plan around. Same size. Same shape. All year. Retailers like predictable.

The other shift is format. Across Europe, wet counters are disappearing. Packaged, ready-to-cook seafood is moving into fresh, frozen and ambient aisles. Convenience is doing the selling.

In the US, 83% of seafood shoppers bought the same or more fish than last year. But 10% of consumers still account for 42% of all seafood purchases. That is a loyalty base, not a mass market.

Sushi shows the path forward. It is a $2.9 billion category, and Gen Z buys twice as much as the average household. Ready-to-eat removes the fear factor.

Seafood is not losing relevance. It is losing ease. The brands and retailers that make fish feel simple, consistent and approachable will own the next wave of growth.