Argentina Seafood Market Overview, 2029

The commercial seafood sector in Argentina began to emerge in the early twentieth century, fuelled by both domestic consumption and export prospects. Argentina's seafood business has a long history and has seen tremendous growth, aided by policies and regulatory frameworks focused at sustainability and quality. Traditional Argentine cuisine include tuna empanadas and Patagonian fish and shellfish recipes. Significant breakthroughs in fishing and aquaculture have occurred in the Argentine seafood market in recent years. The development of modern fishing fleets and processing facilities has increased the industry's ability to meet domestic and worldwide demand. . Aquaculture, particularly the rearing of trout and salmon, has grown in popularity as farming techniques and feed technology have advanced. Along with that, advances in logistics and cold storage have aided export market expansion, helping Argentina to establish itself as a significant seafood exporter. The National Fisheries Directorate (DNP) manages fisheries and enforces regulations to avoid overfishing and safeguard marine habitats. The Fisheries Law is a key policy that establishes quotas, monitoring, and conservation measures to maintain sustainable practices. Argentina also follows international norms and certifications, such as those from the Marine Stewardship Council (MSC), to meet global market demands and promote responsible fishing techniques.

According to the research report, "Argentina Seafood Market Outlook, 2029," published by Bonafide Research, the Argentina seafood market is anticipated to add to more than USD 460 Million by 2024–29. Argentina's wide coastline and abundant marine resources make seafood an important part of its economy and cuisine, resulting in major growth in the sector. The country's seafood industry is critical not only for home consumption but also as a prominent player in the worldwide seafood trade. Innovations in fishing techniques, as well as advances in processing and cold storage, have increased the sector's efficiency and quality. Aquaculture, particularly the rearing of species such as salmon and trout, has grown tremendously, helping to propel the industry forward. Leading enterprises in the Argentine seafood sector include Argenova, which is recognised for its enormous aquaculture operations and high-quality salmon, and Pesquera Patagonia, which specialises in a variety of marine items such as hake and squid. Argentina's seafood export business is supported by major import partners such as the United States, China, and the European Union. These locations are important markets for Argentine seafood, particularly prawns, hake and squid. Access to these major markets has been aided by the country's strategic cooperation with foreign trade partners, as well as conformity with global norms.

Farm-raised and wild-caught seafood both play important roles in the Argentine seafood market, having specific qualities that influence their growth and market presence. Currently, farm-raised seafood is growing faster than wild-caught fish. Aquaculture's growth is driven by the capacity to deliver a consistent and high-quality product that fits the needs of both domestic and international markets. Advances in farming technology, new feed formulas, and increasing investment in aquaculture infrastructure have all contributed to the industry's growth. The Patagonian region, with its clean waters and favourable climate, has become a crucial place for salmon farming, thanks to companies like Argenova and Australis Seafoods, which are major players in the industry. Along with that, the increase in farm-raised seafood corresponds to the demand for dependable seafood supply chains and less pressure on wild fish supplies. Wild-caught seafood remains an important component of Argentina's seafood market, thanks to the country's abundant marine resources and vast fishing grounds. Despite its importance, the wild-caught segment confronts issues such as sustainability and overfishing. To address these concerns, Argentina has developed a number of legislation and conservation measures aimed at managing fish stocks and protecting maritime habitats.

In the Argentine seafood business, both fresh and processed seafood segments are important, responding to diverse consumer wants and tastes. Fresh seafood, especially hake, squid and prawns, is highly regarded for its freshness and flavour. It is prominently displayed in local shops, restaurants, and homes. Major cities and coastal regions have active seafood markets and seafood sellers that sell a wide range of fresh items. Pesquera Patagonia and Marfrig Alimentos are two of the leading suppliers in this area. Processed seafood is quickly expanding in Argentina, driven by rising customer demand for convenience and extended shelf life. Advances in processing and preservation technologies, which assure product quality and increase shelf life, are helping to drive the growth of processed seafood. Companies such as Argenova and Australis Seafoods are key players in this category, providing a variety of processed products that fulfil both domestic and international market demands. Processed seafood is gaining popularity due to its capacity to provide a consistent supply, reduce food waste, and correspond with modern consumption patterns that value convenience and ready-to-eat options.

Fish is a staple of Argentina's seafood industry, demonstrating both its cultural and economic importance. Fish like hake, trout, and salmon are especially important. Hake, a popular fish in Argentine cuisine, is utilised in many traditional dishes and is a major export product. Currently, crustaceans, particularly prawns, are witnessing the fastest increase in the Argentine seafood sector. This rise is driven by the expansion of aquaculture operations and the high international demand for prawns. Shrimp is an important export product for Argentina, with considerable numbers shipped to countries such as the United States and Europe. The high market value of farm-raised prawns, along with the efficiency of contemporary aquaculture technologies, is driving its popularity. Molluscs have a smaller market than fish and crustaceans, but they are recognised for their distinct flavours and are used in both local and gourmet cuisine. Squid, in particular, is a prominent export product, with Argentina providing a large supply to global markets.



In the Argentine seafood market, distribution channels such as supermarkets, convenience stores, speciality stores, and internet platforms each play a unique role and have variable market penetration. Supermarkets are the primary distribution outlet for seafood in Argentina. They provide a diverse selection of seafood goods, including fresh, frozen, and processed options, making them a one-stop shop for customers. Major grocery chains such as Carrefour Argentina, Coto, and Disco offer big seafood areas that appeal to a diverse audience. Supermarkets profit from their large-scale operations and established supply chains, allowing them to offer a varied range of seafood goods at cheap costs. The ease of having a wide range of seafood products under one roof, as well as the possibility to buy in bulk, contribute to the supermarket channel's success. While convenience stores contribute to the seafood market by providing accessibility and immediacy, their impact is very minimal when compared to supermarkets due to their restricted product selection and focus on other categories. Speciality stores are crucial for providing premium and speciality seafood selections, but they serve a narrower portion of the market and have a lower overall market share than supermarkets. The rise of e-commerce and shifting consumer behaviours have fuelled the expansion of online distribution channels. Online seafood shops and delivery services, such as Rappi and MercadoLibre, provide home delivery and a variety of seafood products. This channel is tempting because to its convenience and ability to shop from home, but it has yet to achieve the size of supermarkets in terms of overall market share.

In the Argentine seafood industry, numerous processed seafood categories, such as frozen, salted, dried, smoked, and canned or pickled fish, respond to diverse consumer preferences and market demands. Among these, frozen seafood is the most popular, due to a variety of variables. Frozen fish is the most popular category in Argentina due to its convenience, extended shelf life, and capacity to maintain product quality and nutritional values. The freezing method preserves freshness and flavour, making it an appealing choice for both home and foreign markets. Companies such as Argenova and Australis Seafoods are significant players in this category, providing a diverse range of frozen seafood products to fulfil the needs of both domestic and international markets. While other sectors, such as canned or pickled seafood and smoked seafood, are essential in certain niches, frozen seafood dominates the market due to its adaptability and appeal to a diverse spectrum of consumers.

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