The Philippines fish & seafood market size reached USD 8.67 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 13.22 Billion by 2033, exhibiting a growth rate (CAGR) of 4.50% during 2025-2033. The market is growing due to rising consumer demand, surging export opportunities, increasing government support, aquaculture expansion, boosting sustainable fishing initiatives, improved cold chain logistics, and increasing health consciousness, driving industry growth and investment in processing, distribution, and value-added seafood products.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 8.67 Billion |
Market Forecast in 2033 | USD 13.22 Billion |
Market Growth Rate 2025-2033 | 4.50% |
Growth in Aquaculture and Sustainable Fishing Practices
The Philippine government has adopted enhanced aquaculture operations to meet rising seafood market requirements while promoting environmental sustainability objectives. Fishermen focus on producing tilapia milkfish and shrimp as their primary fish products because wild fish populations have decreased through overfishing. In addition, the Blue Economy framework serves alongside mariculture park investments as part of sustainable fish farming initiatives launched by the government. For instance, in October 2024, the Department of Agriculture's Bureau of Fisheries and Aquatic Resources (DA-BFAR) launched a comprehensive five-year plan to advance the Philippine aquaculture industry. This strategic roadmap focuses on developing a competitive aquaculture sector capable of meeting both local and global seafood demands. The combination of automated feeding systems with disease control technologies using modern technology leads to higher aquaculture output. Moreover, Philippine seafood exports gain competitive strength through rising participation in international certifications such as the Marine Stewardship Council (MSC) and Best Aquaculture Practices (BAP). As a result, the monitored fishing areas and community-run fisheries management systems together gain increased promotion due to environmental problems and climate change, requiring safeguards for seafood resources and natural ecosystems. This is significantly enhancing the Philippines fish & seafood market outlook.
Rising Seafood Exports and International Market Expansion
The Philippines is increasing its seafood exports, driven by global demand for high-quality fish and seafood products. The United States stands alongside Japan, South Korea, and the European Union as the principal export markets for Filipino seafood products as the demand for tuna shrimp and processed seafood is significantly rising. In confluence with this, by joining the Regional Comprehensive Economic Partnership (RCEP) and other free trade agreements the country improves its market competition. For example, in February 2025, the Norwegian Embassy in Manila, along with the Norwegian Seafood Council and Philippine government agencies, hosted the first Seafood Roundtable to streamline fish trade and accelerate the utilization of the free trade agreement between the Philippines and Norway under EFTA-FTA. Also, modernized seafood processing units supported by international food safety standards such as Hazard Analysis and Critical Control Points (HACCP) and European Union (EU) regulations enable Filipino exporters to build their global market presence. Apart from this, the premium seafood market consisting of organic and sustainably sourced fish is expanding in international markets which positions the Philippines as a vital player within the global seafood industry, thus boosting the Philippines fish & seafood market share.
Increasing Consumer Demand for Value-Added and Ready-to-Eat Seafood
The Philippines is experiencing an increasing demand for practical seafood products due to rapid urbanization and changing consumer lifestyles. In line with this, convenient marine food items such as marinated fish fillets together with breaded shrimp, and pre-packaged sushi are gaining popularity among working people and younger consumers. Moreover, consumer demand for healthier eating habits leads to higher demand for seafood with omega-3 content plant-based seafood replacements and enriched seafood products. According to reports, each Filipino consumes about 93.90 grams of fish and seafood products per day, making up 11.68% of their overall food intake, highlighting the growing preference for seafood as an essential part of their diet. Besides this, retailers and online stores continue to enlarge their selection of seafood products so consumers can easily obtain processed products of high seafood quality. Furthermore, food delivery services along with cloud kitchens have raised seafood-based meal consumption rates, propelling the growth of processed and packaged seafood products, thereby expanding the Philippines fish & seafood market growth.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region level for 2025-2033. Our report has categorized the market based on product, form, and distribution channel.
Product Insights:
The report has provided a detailed breakup and analysis of the market based on the product. This includes fish and seafood.
Form Insights:
A detailed breakup and analysis of the market based on the form have also been provided in the report. This includes fresh, frozen, canned, and cured.
Distribution Channel Insights:
The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes offline and online.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include Luzon, Visayas, and Mindanao.
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.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Products Covered | Fish, Seafood |
Forms Covered | Fresh, Frozen, Canned, Cured |
Distribution Channels Covered | Offline, Online |
Regions Covered | Luzon, Visayas, Mindanao |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
Key Benefits for Stakeholders: