Brazil Seafood Market Overview, 2029

Brazil's seafood market is a major sector with a long history and substantial advances, all supported by policies and regulatory frameworks that ensure sustainability and quality. The country's large coastline along the Atlantic Ocean and the Amazon River system provides a wide variety of seafood resources, including prawns, fish, and molluscs. Recent advancements in the Brazilian seafood business have been marked by modernisation and expansion. Advances in aquaculture have been critical, with large investments in prawn farming and other aquaculture operations. Advanced farming techniques, like as recirculating aquaculture systems (RAS) and improved feed formulations, have increased productivity and sustainability. The Brazilian Institute of Environment and Renewable Natural Resources (IBAMA) manages and regulates fisheries and aquaculture operations. Brazil also follows international standards and certifications, such as those issued by the Marine Stewardship Council (MSC) and the Aquaculture Stewardship Council (ASC), to improve access to global markets and assure responsible operations. The COVID-19 epidemic significantly impacted the Brazilian seafood business, disrupting supply chains, processing, and exports. The epidemic caused temporary closures of processing facilities, labour shortages, and logistical issues that hampered production and distribution. However, the business has demonstrated tenacity and adaptation, with a rebound driven by rising local consumption and a resurgence in foreign trade.

According to the research report "Brazil Seafood Market Overview, 2029," published by Bonafide Research, the Brazil seafood market is anticipated to grow at more than 5.16% CAGR from 2024 to 2029. Brazil's large and diverse marine resources, which include rich fishing grounds along the Atlantic coast and huge river systems, have established the country as a major player in the worldwide seafood business. Seafood is a staple in Brazilian cuisine, including dishes like moqueca (a seafood stew) and acarajé (a prawn fritter), making it an important part of the national diet and cultural history. Shrimp farming has expanded significantly, with Brazil emerging as one of the world's largest shrimp exporters. Along with that, the improvement of processing and cold storage infrastructure has improved the market's ability to preserve product quality while meeting export demand. Consumers and international markets are increasingly demanding responsibly sourced seafood, driving Brazilian producers to implement sustainable practices and seek certification from organisations like the Marine Stewardship Council (MSC) and the Aquaculture Stewardship Council (ASC). Camarões do Brasil specialises in shrimp farming and processing, whereas Brasil Foods offers a varied range of seafood products. These companies are at the vanguard of the industry, using cutting-edge technology and huge distribution networks to service both domestic and international customers.

Farm-raised and wild-caught seafood both play important roles in the Brazilian seafood market, with different qualities impacting their growth rates. Currently, farm-raised seafood is growing faster than wild-caught fish. Aquaculture, particularly prawn farming, is growing due to its capacity to deliver a continuous and high-quality supply that meets both domestic and worldwide demand. The benefits of regulated production environments and reduced reliance on wild fish sources help to drive the expansion of the farm-raised market. Along with that, advances in technology and methods have increased the sustainability and efficiency of aquaculture operations. Camarões do Brasil, a significant shrimp farming company, and Grupo Maratá, with extensive aquaculture activities, are among the top providers in the farm-raised market. In the wild-caught segment, significant suppliers include Pesca Brasil, which specialises in tuna and other pelagic species, and Cia. Nacional de Pesca, which produces a variety of wild-caught seafood products. Distributors such as Seafood Brasil and Marisqueira Distribuidora play critical roles in delivering farm-raised and wild-caught seafood to market, ensuring that products reach retailers, foodservice operators, and customers.

Fresh seafood is an important component of Brazil's seafood sector, with deep roots in the country's culinary traditions. Major cities and coastal towns feature active seafood markets and seafood restaurants, emphasising the importance of fresh seafood in Brazilian cuisine. Processed seafood, on the other hand, encompasses a wide range of items like frozen, canned, smoked, and dried seafood. This market appeals to consumers seeking ease, prolonged shelf life, and value-added items. Processed seafood has grown significantly as a result of its capacity to fulfil the needs of modern lifestyles and the rising retail and catering industries. Camarões do Brasil and Brasil Foods are leading participants in the processed seafood sector, offering a varied range of products such as frozen shrimp, canned tuna, and smoked fish. Advances in preservation and processing technology, which improve product quality and increase shelf life, are propelling the processed seafood industry forward.

Fish, molluscs, and crustaceans all play important roles in the Brazilian seafood sector, catering to a wide range of consumer preferences and helping to drive industry growth. Crustaceans, particularly prawns, are currently dominating the market due to high demand and strong export performance. Advancements in aquaculture, as well as the ability to meet domestic and worldwide demand, have reinforced the crustacean segment's leadership position. Shrimp's popularity in a variety of cuisines, as well as its importance in export markets, contribute to its dominant position. Camarões do Brasil and Grupo Maratá are market leaders in shrimp cultivation and processing. . Molluscs are especially popular in Brazil's regional cuisines and gourmet dining, where they are utilised in a variety of dishes and frequently appear on seafood platters and at speciality restaurants. While molluscs have a small market, their popularity is expanding due to rising interest in gourmet and ethnic foods.



In the Brazilian seafood business, distribution channels such as supermarkets, convenience stores, speciality stores, and online platforms each play a unique role in addressing consumer demands and preferences. Supermarkets are the primary distribution outlet for seafood in Brazil. Major grocery chains, such as Pão de Açúcar, Carrefour Brazil, and Extra, offer varied seafood sections to meet client preferences and budget. Supermarkets' dominant position is motivated by their ability to offer a diverse assortment of seafood, low price, and frequent discounts. Their large-scale operations and established distribution networks enable them to meet strong customer demand while also making seafood goods widely available. Speciality stores, such as seafood markets and gourmet shops, sell high-quality, often premium seafood goods. Speciality stores are regarded for their high-quality items and expertise, but they have a smaller market share than supermarkets. They play an important role in the industry by offering premium and specialised seafood selections. While convenience stores are useful for quick availability and accessibility, they lack the vast product choice and market presence of supermarkets. Their function in the seafood industry is somewhat narrow, catering to customers who value convenience over diversity. Online distribution methods have grown in popularity, notably with the rise of e-commerce and changing consumer behaviours. Online seafood merchants and delivery services, such as SeafoodBox.com.br and Rappi, provide home delivery and a variety of products, including fresh and frozen seafood.

In the Brazilian seafood market, the various preservation methods such as frozen, salted, dried, smoked, and canned or pickled fish play diverse roles and have different levels of market penetration. Frozen seafood is the leading segment in Brazil, and its supremacy is due to its capacity to deliver consistent quality and availability, which is critical for both domestic consumption and export. Leading companies in this area include Camarões do Brasil and Brasil Foods. Salted seafood, which includes products such as salt cod and salted fish, occupies a distinct niche in the Brazilian market. Its market share is relatively small, since modern consumers prefer the convenience and freshness provided by other preservation methods. In Brazil, dried fish is valued for its convenience and use in traditional recipes, despite the fact that it lacks the volume and growth of frozen seafood. The segment has a consistent but modest presence, bolstered by customer interest in long-lasting items. Smoked fish is very popular in upscale restaurants and speciality retailers. Despite its premium niche, it has a smaller market share than frozen seafood. The segment's expansion is being driven by rising demand for artisanal and premium seafood.

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