Philippines Fish & Seafood Market Size, Share, Growth and Forecast 2026-2034

The latest report by IMARC Group, "Philippines Fish & Seafood Market Size, Share, Trends and Forecast by Fish Type, Product Type, Distribution Channel, and Region, 2026-2034," provides an in-depth analysis of the Philippines Fish & Seafood Market. The report also includes competitor and regional analysis, along with a breakdown of segments within the Philippines fish & seafood industry.

Report Attributes and Key Statistics:

• Base Year: 2025
• Forecast Years: 2026-2034
• Historical Years: 2020-2025
• Market Size in 2025: USD 9.1 Billion
• Market Forecast in 2034: USD 13.4 Billion
• Growth Rate (2026-2034): 4.40%

Philippines Fish & Seafood Market Overview:

Philippines fish & seafood sector driving fisheries production reaching 2.38 million metric tons in 2023 valued at PHP 124.02 billion with seaweed contributing 1.63 million MT representing 68.2% of total production. Government implementing National Aquaculture Development and Management Plan (ADMP) 2025-2030 launched September 2024 addressing complexities enhancing sustainability, productivity, and market competitiveness. Regional Comprehensive Economic Partnership enabling tariff-free sourcing improving market competition with Norwegian Embassy hosting first Seafood Roundtable February 2025 streamlining fish trade accelerating EFTA-FTA utilization. Modernized seafood processing units supported by international food safety standards including HACCP and EU regulations enabling Filipino exporters building global market presence. Filipinos consuming 93.90 grams fish and seafood products daily representing 11.68% overall food intake with per capita consumption significantly higher than global average at 40 kg annually. Premium seafood market expanding internationally with organic and sustainably sourced fish positioning Philippines as vital player within global industry.

Philippines Fish & Seafood Market Trends:

Philippines Fish & Seafood Market trends include surging demand for value-added and ready-to-eat seafood products driven by rapid urbanization and changing consumer lifestyles with marinated fish fillets, breaded shrimp, and pre-packaged sushi gaining popularity among working people and younger consumers. Digital transformation accelerating with proliferation of online marketplaces and seafood retailers offering consumers competitive pricing and seamless delivery services supported by improved cold chain logistics and packaging innovations ensuring freshness during transit. Social media platforms influencing purchasing behavior with seafood businesses leveraging digital marketing strategies engaging customers and promoting products building consumer confidence in online seafood purchases. Sustainable fishing initiatives expanding with Better Seafood Philippines program combating illegal, unreported, and unregulated fishing affecting up to 40% of wild-caught seafood promoting responsible sourcing across supply chains from fishers to retailers. Tilapia, milkfish, and shrimp emerging as primary aquaculture products replacing depleted wild fish populations from overfishing with government enhancing operations meeting rising market requirements while promoting environmental sustainability objectives.

Philippines Fish & Seafood Market Drivers:

In the Philippines Fish & Seafood Market, aquaculture expansion is driving growth. With production reaching 2.38 million MT in 2023 valued at PHP 124.02 billion, aquaculture accounting for 55.95% of total fishery production in 2023 while capture fisheries contributed 44.05% including marine capture (90.70%) and inland capture (9.30%). Government support through National Aquaculture Development and Management Plan 2025-2030 enhancing industry sustainability, productivity, and contribution to national economy tackling environmental impacts, resource management, and market competitiveness. Export opportunities surging with United States, Japan, South Korea, and European Union serving as principal markets for Filipino seafood products with significant demand for tuna, shrimp, and processed seafood. Regional Comprehensive Economic Partnership and free trade agreements improving market competition positioning Philippines competitively in global seafood trade. Health consciousness increasing consumer demand for seafood with omega-3 content, plant-based seafood replacements, and enriched products addressing healthier eating habits. Fisheries sector directly or indirectly employing 2.29 million people in capture, aquaculture, fish processing, packaging, and transportation providing livelihoods and supporting coastal communities.

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Market Challenges:

• Illegal Unreported Unregulated Fishing up to 40% of wild-caught seafood coming from IUU fishing undermining sustainable fishing practices affecting resource conservation and threatening marine biodiversity requiring enhanced law enforcement

• Overfishing Concerns wild fish populations decreasing through overfishing necessitating shift toward aquaculture and sustainable fishing methods to maintain seafood supply and prevent further depletion

• Limited Processing Infrastructure small and medium enterprises relying on traditional fish processing methods including drying, fermenting, and salting requiring investments in modern processing facilities and technology upgrades

• Cold Chain Limitations inadequate cold storage facilities and refrigerated transport infrastructure particularly in provincial areas causing post-harvest losses affecting product quality and market value

• Product Quality Authenticity consumer hesitation regarding quality and authenticity of seafood products especially from cross-border sellers requiring stringent quality control and traceability systems

• Climate Change Vulnerability intensifying typhoons, rising sea levels, and changing ocean temperatures affecting marine ecosystems fish migration patterns and aquaculture production requiring climate-resilient practices

• Market Access Barriers compliance requirements with international food safety standards including HACCP and EU regulations creating challenges for smaller exporters lacking resources for certification

• Environmental Sustainability balancing aquaculture expansion with environmental protection addressing concerns about pollution, habitat degradation, and resource depletion in coastal and marine ecosystems

Market Opportunities:

• Value-Added Product Development expanding production of marinated fish fillets, breaded shrimp, pre-packaged sushi, and ready-to-eat seafood products targeting urban consumers and younger demographics seeking convenience

• Export Market Expansion capitalizing on RCEP tariff-free sourcing and EFTA-FTA agreements increasing exports to United States, Japan, South Korea, European Union, and emerging markets

• Sustainable Seafood Certification implementing Better Seafood Philippines program principles obtaining MSC and ASC certifications targeting premium markets commanding higher prices for responsibly sourced products

• Digital Commerce Integration developing online seafood retail platforms leveraging e-commerce growth, food delivery services, and cloud kitchens expanding market reach and consumer accessibility

• Aquaculture Technology Adoption implementing precision aquaculture tools including IoT-based water quality monitors, automated feeding systems, and disease control technologies improving yields and reducing operational costs

• Provincial Aquaculture Expansion establishing aquaculture zones in underserved regions including Cagayan Valley launching HDPE fish cage projects producing tilapia and other species addressing local supply gaps

• Premium Organic Market developing organic and sustainably sourced seafood products targeting health-conscious consumers willing to pay premium prices for certified products

• Post-Harvest Facility Development investing in community fish landing centers, modern processing equipment, cold storage facilities, and refrigerated transport infrastructure minimizing losses and maintaining quality

Philippines Fish & Seafood Market Segmentation:

Product Insights:

• Fish
• Seafood

Form Insights:

• Fresh
• Frozen
• Canned
• Cured

Distribution Channel Insights:

• Offline
• Online

Regional Insights:

• Luzon
• Visayas
• Mindanao

Philippines Fish & Seafood Market News:

September 2025: Bureau of Fisheries and Aquatic Resources intensified aquaculture initiatives across Cagayan Valley addressing region's 62.9% fish sufficiency level with current supply falling short of local demand. BFAR launched PHP 1 million circular high-density polyethylene fish cage project in Barangay Bessang, Allacapan, Cagayan producing approximately 2.4 metric tons marketable tilapia sold at PHP 110 per kilo yielding PHP 264,000 revenues in first production cycle. Initiative aims reduce dependence on captured fisheries which declined from 2023 to 2024 by expanding technology demonstration sites and aquaculture production areas throughout region.

June 2025: Philippine Senate approved construction of government-funded aquafeed mill in Barangay Bahit, Panay, Capiz aiming produce 30 metric tons fish feed daily sourcing local raw materials. Facility will reduce feed costs accounting for 70% of aquaculture expenses boosting incomes for over 1,300 fish farmers. Capiz recognized as nation's top milkfish producer leading aquaculture output in Western Visayas. Project supports sustainability, food security, and regional growth reducing dependency on imported feeds from Cebu and Manila strengthening local supply chains.

May 2025: Food and Agriculture Organization and Bangsamoro Autonomous Region in Muslim Mindanao launched Japan-funded USD 4.7 million project strengthening sustainable fisheries and aquaculture in Mindanao. Building on past peacebuilding efforts, initiative aims support 4,000 small-scale fishers and farmers promoting food security and empowering women and youth internally displaced persons. Program focuses capacity building, sustainable practices, and livelihood enhancement addressing socio-economic challenges in conflict-affected areas.

February 2025: Norwegian Embassy in Manila along with Norwegian Seafood Council and Philippine government agencies hosted first Seafood Roundtable streamlining fish trade and accelerating utilization of free trade agreement between Philippines and Norway under EFTA-FTA. Event brought together industry stakeholders, government officials, and international partners discussing market access, trade facilitation, and quality standards. Initiative aims strengthen bilateral seafood trade relations expanding export opportunities for Filipino seafood producers to European markets.

Key Highlights of the Report:

• Market analysis projecting robust growth from USD 9.1 billion (2025) to USD 13.4 billion (2034) with 4.40% CAGR
• Aquaculture sector reaching 2.38 million MT production in 2023 valued at PHP 124.02 billion accounting for 55.95% of total fishery production
• Government launching National Aquaculture Development and Management Plan 2025-2030 in September 2024 enhancing sustainability, productivity, and market competitiveness
• Norwegian Embassy hosting first Seafood Roundtable in February 2025 streamlining fish trade and accelerating EFTA-FTA utilization
• Filipinos consuming 93.90 grams fish and seafood daily representing 11.68% of overall food intake with per capita consumption at 40 kg annually
• Fisheries sector directly or indirectly employing 2.29 million people in capture, aquaculture, processing, packaging, and transportation
• BFAR intensifying aquaculture initiatives in Cagayan Valley launching PHP 1 million HDPE fish cage projects producing 2.4 MT tilapia per cycle
• Senate approving government-funded aquafeed mill in Capiz producing 30 MT daily feed reducing costs by 70% for over 1,300 fish farmers
• Better Seafood Philippines program combating illegal, unreported, and unregulated fishing affecting up to 40% of wild-caught seafood
• Regional Comprehensive Economic Partnership enabling tariff-free sourcing improving export competitiveness to United States, Japan, South Korea, and European Union

Frequently Asked Questions (FAQs):

Q1: What are the primary factors driving Philippines Fish & Seafood Market growth to USD 13.4 billion by 2034?

A1: Market driven by aquaculture expansion reaching 2.38 million MT production in 2023 accounting for 55.95% of total fishery production, government support through National Aquaculture Development and Management Plan 2025-2030 enhancing sustainability and productivity, and surging export opportunities with United States, Japan, South Korea, and European Union serving as principal markets for tuna, shrimp, and processed seafood. Regional Comprehensive Economic Partnership and EFTA-FTA agreements improving market competition, health consciousness increasing seafood demand with omega-3 content and enriched products, and Filipinos consuming 40 kg fish per capita annually significantly higher than global average contribute to 4.40% growth rate. Digital transformation through online marketplaces, improved cold chain logistics, and fisheries sector employing 2.29 million people support market expansion.

Q2: How is aquaculture transforming the Philippines fish and seafood landscape?

A2: Aquaculture revolutionizing market by accounting for 55.95% of total fishery production in 2023 with 2.38 million MT valued at PHP 124.02 billion, with seaweed contributing 1.63 million MT representing 68.2% of production. Government launching National Aquaculture Development and Management Plan 2025-2030 in September 2024 addressing industry complexities tackling environmental impacts, resource management, and market competitiveness. Tilapia, milkfish, and shrimp emerging as primary products replacing depleted wild fish populations from overfishing. BFAR intensifying initiatives in Cagayan Valley launching HDPE fish cage projects producing 2.4 MT tilapia per cycle yielding PHP 264,000 revenues. Senate approving aquafeed mill in Capiz producing 30 MT daily reducing feed costs by 70% supporting over 1,300 farmers. Technology adoption including IoT-based monitoring, automated feeding systems, and disease control improving yields and operational efficiency.

Q3: What opportunities exist for fish and seafood stakeholders in emerging Philippines market segments?

A3: Stakeholders can capitalize on value-added product development expanding marinated fish fillets, breaded shrimp, pre-packaged sushi targeting urban consumers seeking convenience, export market expansion leveraging RCEP and EFTA-FTA agreements increasing exports to United States, Japan, South Korea, European Union, and sustainable seafood certification implementing Better Seafood Philippines program obtaining MSC and ASC certifications commanding premium prices. Digital commerce integration developing online retail platforms leveraging e-commerce growth and food delivery services, aquaculture technology adoption implementing precision tools including IoT monitoring and automated systems improving yields, and provincial aquaculture expansion establishing zones in underserved regions launching HDPE cage projects represent opportunities. Premium organic market targeting health-conscious consumers, post-harvest facility development investing in community landing centers and cold storage infrastructure, and polyculture systems raising multiple species in single ponds offer diversification meeting increasing demand across 2.29 million employed in fisheries sector.

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