Japan Seafood Market Overview, 2029

Japan's seafood industry is one of the world's most important and legendary, inextricably linked to the country's culture, history, and economy. As an island nation, Japan has relied on the sea as a key food source for generations, making seafood an essential component of Japanese cuisine. Overfishing, environmental degradation, and changed consumer preferences have all been issues for Japan's seafood industry in recent decades. The loss of particular fish supplies, such as bluefin tuna, has prompted stronger regulatory restrictions and a drive for more sustainable fishing practices. The Japanese government, in partnership with international organisations, has imposed limits and restrictions to safeguard endangered species and promote responsible fishing. Aquaculture currently accounts for a sizable amount of Japan's seafood production, contributing to domestic demand while lessening strain on wild fisheries. Japan's Fisheries Agency manages marine resources, implementing policies that are consistent with both local interests and international accords such as the United Nations Convention on the Law of the Sea (UNCLOS). The Total Allowable Catch (TAC) system is a fundamental policy in Japan's seafood market, limiting the amount of particular species that can be fished each year. This strategy is intended to prevent overfishing and maintain the long-term health of fish stocks. According to the research report "Japan Seafood Market Overview, 2029," published by Bonafide Research, the Japan seafood market is anticipated to grow at more than 4.17% CAGR from 2024 to 2029. Despite problems such as dwindling domestic fish sources and shifting consumer preferences, the sector continues to expand, fuelled by both domestic demand and foreign trade. Seafood, which includes fish, shellfish, and seaweed, is a cornerstone of the Japanese diet, appearing prominently in meals such as sushi, sashimi, and numerous regional specialities. The market's expansion has been fuelled by a combination of strong domestic demand and considerable imports. However, in recent years, Japan's per capita seafood intake has decreased slightly due to an ageing population and a trend towards alternative protein sources, such as beef. Despite this, seafood remains an important part of the Japanese diet, and the market remains a critical component of the food sector. One of the most prominent trends is the emphasis on sustainability and responsible sourcing. As concerns about overfishing and environmental degradation grew, consumers and business actors prioritised sustainable seafood. This has increased the popularity of certified sustainable products, with labels such as the Marine Stewardship Council (MSC) gaining hold in the market. Several prominent players dominate the Japanese seafood business, including large fishing companies Nippon Suisan Kaisha (Nissui), Maruha Nichiro Corporation, and Kyokuyo Co., Ltd. These companies are active in all aspects of the seafood supply chain, from fishing and aquaculture to processing and distribution. They are also key players in the worldwide seafood market, with a large export portfolio.

In Japan's seafood sector, farm-raised and wild-caught fish are both important components, meeting various customer tastes and market needs. Farm-raised seafood has grown significantly in Japan due to its capacity to provide a consistent and reliable supply of seafood while mitigating some of the issues associated with wild-caught fisheries. Farm-raised seafood, which includes species such as salmon, yellowtail, and sea bream, provides a steady supply that is essential for satisfying the needs of both domestic and foreign consumers. Recirculating aquaculture systems (RAS) and improved feed formulations have helped to increase the quality of farm-raised seafood while also lowering its environmental impact. Along with that, the growing consumer demand for sustainable and traceable seafood products has increased the popularity of aquaculture. Maruha Nichiro Corporation, which maintains significant aquaculture facilities, and Nippon Suisan Kaisha (Nissui), which is noted for its investments in sustainable fish farming practices, are among the industry's leaders. Wild-caught seafood remains an important element of Japan's seafood sector, with many people appreciating the traditional and natural qualities of wild fish and shellfish. However, the wild-caught segment confronts issues such as shrinking fish stocks, overfishing, and growing competition in international markets. In Japan's seafood business, both fresh and processed seafood play important roles in catering to varied customer preferences and commercial needs. However, fresh seafood is currently growing faster than processed seafood, owing to shifting consumer habits and demands for high-quality, minimally processed food. The rise of the fresh seafood industry is also aided by advances in cold chain logistics and distribution, which have increased the ability to maintain product quality from harvest to consumption. Leading suppliers and distributors of fresh fish include Maruha Nichiro Corporation, Nippon Suisan Kaisha (Nissui), and Kyokuyo Co., Ltd. Meanwhile, processed seafood remains a significant industry, praised for its ease and variety, albeit with slower growth as consumer preferences shift towards fresher choices. Processed seafood provides ease, a longer shelf life, and adaptability, making it an important area for both domestic and foreign markets. Frozen shrimp, canned tuna, dried seaweed, and smoked salmon are among the most common processed seafood products. Fish, molluscs, and crustaceans all play important roles in the Japanese seafood market, reflecting a variety of culinary traditions and customer preferences. Fish is the most important and fastest-growing segment, owing to its fundamental position in Japanese cuisine and rising demand for both home and export markets. The fish industry is expanding rapidly due to increased customer demand for high-quality, sustainably sourced seafood. Advances in aquaculture technology have also increased the availability of farmed fish, helping to fulfil the demands of both domestic and foreign markets. Leading fish companies include Maruha Nichiro Corporation, Nippon Suisan Kaisha (Nissui), and Kyokuyo Co., Ltd. Although molluscs are an important part of Japanese cuisine, their sales growth has been more consistent than fish. This is owing to their unique culinary use and generally consistent supply. However, demand for molluscs remains high, particularly in regional and speciality markets. The crustacean industry has expanded rapidly, aided by innovations in aquaculture and the growing popularity of seafood meals containing crab and prawns. The growing consumer interest in luxury seafood items has boosted the market for crustaceans. In Japan's seafood business, distribution channels are broad, responding to a wide range of consumer wants and interests. These channels include supermarkets, convenience stores, speciality stores, and internet platforms. Supermarkets are currently the most important distribution channel for seafood due to their broad reach, variety, and convenience. Major supermarket chains including as Aeon, Ito-Yokado, and Seiyu have a substantial presence in the seafood sector. These establishments have large supply chains and distribution networks, allowing them to provide a wide variety of seafood goods while maintaining freshness and quality. Supermarkets frequently include in-store seafood counters where consumers can choose freshly cooked items or have them filleted and packaged on the spot. Convenience stores are another key distribution channel for seafood in Japan, albeit with a more specialised role than supermarkets. These stores are deliberately placed to serve busy customers looking for quick dinner options. Speciality stores sell high-end or speciality seafood products, such as fresh sushi-grade fish, rare shellfish and artisanal seafood. These establishments frequently emphasise quality, provenance, and unusual items, appealing to seafood aficionados and connoisseurs. Speciality seafood stores include Tsukiji Outer Market businesses and boutique seafood retailers. Online platforms have expanded significantly in Japan's seafood sector, owing to the expanding trend of e-commerce and digital shopping. In Japan's seafood market, numerous types of processed seafood, such as frozen, salted, dried, smoked, and canned or pickled fish, cater to a variety of consumer preferences and applications. Among these, frozen seafood is the most popular due to its convenience, variety, and quality preservation. The appeal of frozen seafood stems partly from its capacity to maintain excellent quality and freshness over long periods of time, making it a dependable option for both consumers and companies. The growing demand for handy and ready-to-cook seafood items is propelling the frozen seafood industry forward. This segment's popularity is further boosted by developments in freezing technology and logistics, which ensure that frozen products arrive in perfect condition. Nippon Suisan Kaisha (Nissui), Maruha Nichiro Corporation, and Kyokuyo Co., Ltd. are among the top frozen seafood companies, offering a diverse range of products for both domestic and foreign markets. Salted items, including salted fish and preserved seafood, have long been used to lengthen shelf life and improve flavour. Although the market for salted seafood is generally stable, it is less volatile than that for frozen seafood. While dried seafood is widely utilised and has a dedicated consumer base, its growth is more limited in comparison to frozen seafood. Dried products are frequently regarded as speciality commodities and are widely employed in specialised culinary applications. Smoked seafood is a smaller category than frozen seafood due to its focus on specialised tastes and applications. Consumer preferences for gourmet and speciality products have an impact on its market share.

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 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