Asia's Growing Middle Class Drives Increasing Demand For Seafood.

   Data collected by trade organizations such as the Norwegian Seafood Council (NSC) and the UK trade agency Seafish, according to SeafoodSource, shows that the Asian seafood export market is growing steadily. With the economic recovery following the pandemic, exports of products like salmon have seen double-digit percentage growth over the past five years. Economists predict that by 2035, Asia will account for 3.2 billion of the world's 5 billion middle-class consumers, reshaping the global consumption landscape. If the Association of Southeast Asian Nations (ASEAN) members are considered a single entity, they will rank third in terms of middle-class growth by 2035, adding 112 million middle-class individuals. China is projected to add 163 million middle-class consumers, ranking first in Asia, while India is expected to add 411 million, ranking second. World Data Labs recently found that more than half of the current 4.5 billion middle-class population resides in Asia. The lab also found that 80% of first-time middle-class consumers are from Asia, making it the fastest-growing middle-class group to date.

   China's seafood consumption patterns have undergone a significant shift, with the country transitioning from a net exporter to a net importer of seafood in 2022. According to Rabobank statistics, China's seafood imports grew from $3.6 billion in 2001 to $13.2 billion in 2010, and then jumped again to $18.2 billion in 2012. By 2025, Scottish salmon exports to China are projected to increase by 28% year-on-year. China first opened its market to Scottish salmon in 2011, and since then, imports have steadily increased. Scottish salmon production is projected to be slightly below 200,000 tons in both 2024 and 2025. According to Euromonitor International, a UK-based market research firm, while the Chinese seafood market has been growing, it has also become polarized. Sales of "high-end" products have increased, but beyond that, most of the growth has been concentrated in low-end products, while sales of mid-range seafood have declined. Euromonitor International predicts that sales in China will shift towards processed products, and believes that processed products will outperform other categories in the market. China is currently the world's largest consumer of seafood, and the ASEAN market is also becoming increasingly important.

   Seafood companies in several regions have noticed the growing purchasing power in ASEAN countries, which are increasingly becoming target markets for Chinese seafood companies seeking export opportunities. According to statistics collected by the U.S. National Oceanic and Atmospheric Administration (NOAA), the U.S. exported $20 million worth of seafood to Indonesia in 2023, and this value is projected to grow to $55 million by 2025, an increase of 175%. Indonesia, the most populous ASEAN member state with over 280 million people, has seen fluctuations in its middle class in recent years, with an estimated contraction in size in 2022 and 2023.

   In contrast to the fluctuations in Indonesia's middle class, Vietnam's middle class is growing steadily, and as the country transitions to a middle-income nation, Vietnam has become a new destination for seafood imports. World Data Labs predicted in 2021 that Vietnam's middle class is growing faster than almost anywhere else in the world, with the group expected to grow by approximately 23.2 million people by 2030. According to data from the Vietnamese customs authorities, the country's seafood imports are projected to rise to $3.38 billion in 2025, a 28.2% increase from the previous year. In 2023, the United States exported $58 million worth of seafood to Vietnam; this figure is projected to rise to $98 million by 2025, an increase of nearly 70%.

   Thailand, one of the five most populous members of ASEAN, has also seen growth in its seafood imports. The World Bank classified Thailand as a "middle-income" economy in 2011, and its seafood imports have increased in recent years. The Norwegian Seafood Council states that Thailand has become a significant export destination for Norwegian seafood, as well as a major export destination for the United States. According to NOAA statistics, US seafood exports to Thailand have increased from $74 million in 2023 to $124 million in 2025, a 67% increase.

   According to the World Economic Forum's forecast, by 2035, seven of the ten ASEAN countries are expected to have a predominantly middle class. With the emergence of these consumers, global consumption is expected to be reshaped around their demands.