China's seafood market will continue to expand in 2023

With the improvement of people's living standards, the seafood market in China has shown a vigorous development trend. In 2023, the scale of China's seafood market continues to expand, and it is expected that the future development potential is huge.

In recent years, China's seafood market has shown a rapid growth trend. According to market research data, the size of China's seafood market reached 321.7 billion yuan in 2020, and is expected to break through the 400 billion yuan mark in 2023. This shows that the seafood market has a huge market demand and commercial value in China.

Per capita seafood consumption in China is also rising. By 2023, China's per capita seafood consumption reached 32.82 kg/year, an increase of 4.52 kg/year from 2018 and a year-on-year increase of 16.0%. However, due to the impact of the novel coronavirus epidemic, per capita seafood consumption in 2020 declined slightly to 26.42 kg/year, a decrease of 6.40 kg/year compared with 2019, and a decrease of 19.5%.

The regional market of seafood catering in China is mainly concentrated in East, South and northeast China. Among them, East China accounted for 45% of the market share, South China accounted for 24%, and Northeast China accounted for 9%. However, affected by the epidemic, the number of seafood catering enterprises has shown a cliff-like decline in recent years, from 17,862 to 15,097, a decrease of 2,765, a decrease of 15.48%. In the future, with the continuous advancement of consumption upgrading, intelligence, digitalization and cost reduction and efficiency will become an important direction for the development of seafood catering industry.

It is expected that by 2026, China's per capita consumption of aquatic products will reach 23 kg, accounting for about 36% of the total consumption. It can be said that the seafood market is ushering in a golden development period. Statistics show that China's seafood consumption is ushering in breakthrough growth, the e-commerce field will get more opportunities, while the seafood aquaculture industry will also bring profound changes.