Report Overview

China Fish Market - Industry Trends & Forecast Report 2028

China's Fish market exhibited a CAGR of 6.5% during the forecast period. The rapid market expansion is predominantly due to the strong economic conditions, improved living standards, higher income levels, and greater purchasing power. Moreover, China continued to be the world's top fish producer and has close ties to the historical development and expansion of aquaculture compared to wild capture fisheries. In addition, rising consumer consumption as a result of changing eating patterns and consumer preferences for a healthy lifestyle and expanded industrial capabilities in China also propelling the China Fish Market.

Fish - Overview

A fish market is a place for selling fish and fish products. Marketing in fish is a wholesale trade between fishermen and fish merchants, or to the sale of seafood to individual customers, or to both. The marketing system for fish includes transportation to and from the market, handling, storing, packaging, sorting, merchandising, etc. The fish market consists of the retail sale of frozen fish, fresh fish, ambient fish, chilled raw packaged fish- processed, chilled raw packaged fish - whole cuts, and dried fish.

China Fish Market Forecast and Trends

Growth Drivers

Strong economic conditions

The Chinese economy continues to expand fast, fueled by long-term improvements in industrial output, imports and exports, consumer spending, and capital investment. Since the Chinese government has been pushing industry consolidation in an effort to control the industry and boost competitiveness in the global market, rapid consolidation between medium and big businesses is expected. Natural ocean fishing has entered the declining stage of its life cycle worldwide, which provides expansion opportunities for the fish industry. Due to low manufacturing costs and long coastlines, China is in a good position to benefit from this decline. As a result, the strong economic condition of China favors the growth of the fish market in the country.

Rising consumer consumption

The fish market is also thriving as the Chinese appetite for live, and fresh aquatic produce and processed products grows among a wide range of consumers. Although processed aquaculture products are mainly shipped from the country, premium aquaculture products are increasingly gaining popularity in China. It is also flourishing due to consumer desire for reasonably priced products made from freshwater cultures. China's hectic lifestyles are fueling demand for processed aquaculture products like tilapia fillets. TThe preference for high-nutrition and low-calorie foods is also boosting demand for fish among customers in China as they are frequently preferred over poultry and beef meat because they contain an almost comparable amount of protein while being lower in calories.

China's involvement with world fisheries trade in aquatic products

China is now the world's greatest producer, consumer, and exporter of seafood due to its expanded involvement in the global fisheries trade for aquatic products. China's role in market supply chains is important as the greening of supply chains accounts for sustainability impacts on species, stocks, and ecosystems within China and elsewhere in the supply chains. International certification processes Marine Stewardship Council (MSC) and various seafood consumption guides are examples of how this international interest is changing global production, processing, trade, and consumption patterns include the Marine Stewardship Council (MSC) and numerous seafood consumption guides. The possibility for aquatic resources around the world to become sustainable in their use and regeneration will depend on China's future expansion of production, import and export, and domestic consumption. The success with fisheries in scale and the ability to create a variety of market supply chains are driving the fish market in China.

The rising cost of inspection and delays in shipment coupled with demand impacting the fish market in China

Increased inspection expenses and shipping delays for seafood in China significantly negatively impact Chinese processing firms. These expenses are making the industry's already difficult transition from producing seafood for export to meeting domestic demand even more difficult. All inspections of Chinese Customs have become very harsh, and it takes a lot of time and so many procedures to get imported raw material. The companies in the industry lack confidence and sufficient resources to invest, which is limiting the expansion of the fish market in China. As a result, the company is having a lot of difficulties shipping the machines.

Impact of COVID-19 on China Fish Market

The COVID-19 outbreak has impacted China's fish market. In China, the fishery is a long-standing and significant industry. The ongoing COVID-19 outbreak has also highlighted possible issues with China's fishery development, such as the absence of organizations specifically designed to oversee and test the quality and safety of aquatic products. Additionally, new issues have emerged, such as the declining market demand for fish and aquatic products, which impacts the fishermen's income and way of life. Aquatic items like tilapia, prawns, crayfish, and bulk freshwater fish were severely impacted by the problem of overstocking in aqua farms at the beginning of 2020 (mostly as a result of the closure of markets and trade activity).

China Fish Market - By Type

China's Fish market was segmented by type into carp, tilapia, salmon, catfish, and other fish species. The increasing demand for Atlantic salmon fish products to accomplish the demand for high nutritional selenium content. Also, the emerging trend in China to consume sashimi-smoked products is propelling the market growth. In addition, the rise of tilapia aquaculture for export and domestic consumption is also propelling the market in China. Millions of livelihoods have been maintained or created in the last two decades of expansion into fish processing and re-processing for export. China has been able to add value to its fish products, with high utilization rates of caught fish and by extracting novel products such as ingredients for cosmetics and medicines, leading to the growth of the fish market in China.

Competitive Landscape

Key players operating in the China Fish market are Cargill, Incorporated, Nutreco N.V., Biomin, BioMar Group, Aller Aqua, Liao Yu Group Co Ltd, China Aquatic Products Zhoushan Marine Fisheries Corporation, Baiyang Investment Group Inc, Shanghai Kaichuang Marine International Co Ltd, Leye County Nanpanjiang Fisheries Ltd, and other prominent players.

These market players are mostly focused on creating cutting-edge fish feed products. In addition, some of them are placing a strong emphasis on acquisitions and investments in the research and development of cutting-edge technology in order to introduce new products.

Recent Development

• In 2022, Nutreco introduced two new fish feed products in Egypt under the Skretting AS brand to expand its market presence in Europe.

• In 2017, order to raise the bar for the commercial market, Nutriad NV enhanced its product line by incorporating cutting-edge formulating methods like NutriTrace into its line of organic mineral products

Scope of the Report

By Type

• Carp

• Tilapia

• Salmon

• Catfish

• Other Fish Species

By End User

• Residential

• Hotels

• Restaurants

• Quick Service Restaurants

• Others

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. China Fish Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising consumer consumption
         2. Strong economic conditions
         3. Growing Online Platform
      2. Restraints
         1. Rising Cost of inspection
      3. Opportunities
         1. China's involvement with world fisheries trade in aquatic products
      4. Challenges
         1. Delays in shipment
   3. Technological Landscapes/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. China Fish Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
         1. Carp
         2. Tilapia
         3. Salmon
         4. Catfish
         5. Other Fish Species
      2. By End-User
         1. Residential
         2. Hotels
         3. Restaurants
         4. Quick Service Restaurants
         5. Others
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Market Share Analysis, 2021
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of COVID-19 on China Fish Market
7. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
   1. Cargill, Incorporated
   2. Nutreco N.V.
   3. Biomin
   4. BioMar Group
   5. Aller Aqua
   6. Liao Yu Group Co Ltd
   7. China Aquatic Products Zhoushan Marine Fisheries Corporation
   8. Baiyang Investment Group Inc
   9. Shanghai Kaichuang Marine International Co Ltd
   10. Leye County Nanpanjiang Fisheries Ltd
   11. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumptions & Limitations

NOTE: Financial in information in case of non-listed companies will be provided as per availability

The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1        China Fish Market Segmentation

Figure 2        China Fish Market Value Chain Analysis

Figure 3        Porter’s Five Forces Analysis

Figure 4        China Fish Market Size, By Value (USD Million), 2018-2028

Figure 5        China Fish Market Share, By Type, By Value, 2018-2028

Figure 6        China Fish Market Share, By End-User, By Value, 2018-2028

List of Tables

Table 1         China Fish Market Size, By Type, By Value, 2018-2028

Table 2         China Fish Market Size, By End-User, By Value, 2018-2028

Table 3         Cargill, Incorporated Company Overview

Table 4         Cargill, Incorporated Financial Overview

Table 5         Nutreco N.V. Company Overview

Table 6         Nutreco N.V. Financial Overview

Table 7         Biomin Company Overview

Table 8         Biomin Financial Overview

Table 9         BioMar Group Company Overview

Table 10        BioMar Group Financial Overview

Table 11        Aller Aqua Company Overview

Table 12        Aller Aqua Financial Overview

Table 13        Liao Yu Group Co Ltd Company Overview

Table 14        Liao Yu Group Co Ltd Financial Overview

Table 15        China Aquatic Products Zhoushan Marine Fisheries Corporation Company Overview

Table 16        China Aquatic Products Zhoushan Marine Fisheries Corporation Financial Overview

Table 17        Baiyang Investment Group Inc Company Overview

Table 18        Baiyang Investment Group Inc Financial Overview

Table 19        Shanghai Kaichuang Marine International Co Ltd Company Overview

Table 20        Shanghai Kaichuang Marine International Co Ltd Financial Overview

Table 21        Leye County Nanpanjiang Fisheries Ltd Company Overview

Table 22        Leye County Nanpanjiang Fisheries Ltd Financial Overview