Philippines Fish Market (2023-2029) | Industry, Analysis, COVID-19 IMPACT, Size, Trends, Share, Companies, Value, Growth, Forecast & Revenue

Philippines Fish Market Highlights

Report Name	Philippines Fish Market
Base Year	2022
Historical Period	2019-2022
Forecast Period	2023-2029
Growth Rate	18.99%
Report Coverage	Revenues & Volume, Market Trends, Drivers & Challenges, Market Forecast, Market Share
Segment Coverage	By Fish Type, By Product Type, By Distribution Channel, By Sector
Customization Scope	100% customized reports available along with reliable data. Moreover, you can alter the segments, countries, and regions according to your needs. For further details, you can contact our research expert at sales@6wresearch.com
Pricing and Purchase Options	Avail customization purchase option to know the exact pricing of your research needs

Topics Covered in the Philippines Fish Market Report

Philippines Fish Market Report thoroughly covers the market by fish type, product type, distribution channel, and sectors. The outlook report provides an unbiased and detailed analysis of the ongoing Market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Philippines Fish Market Synopsis

Philippines Fish Market is anticipated to grow in the forecast period as the Philippines fish market stands as a vital component of the country's economy, reflecting its abundant marine resources and a longstanding tradition of fisheries. The market is characterized by a diverse range of fish types, including marine and inland varieties. In recent years, there has been a growing emphasis on sustainable practices to ensure the long-term viability of fisheries. The demand for fish is significantly driven by its status as a primary protein source for Filipinos, constituting a staple in the local diet.

According to 6Wresearch, the Philippines Fish Market size is anticipated to grow by 18.99%, resulting in a market volume of US$497.89m during 2023-2029. The fish market is a vital sector of the country`s economy and food supply. With its extensive coastline and abundant marine resources, the Philippines has a rich fishing tradition. The market`s growth is driven by domestic consumption, export opportunities, and the livelihood of numerous coastal communities engaged in fishing. Factors such as changing dietary preferences, population growth, and rising health consciousness contribute to the steady demand for fish and seafood products. The cultural importance of seafood, including various fish types, ensures a consistent and substantial demand. Additionally, the country's vast archipelagic geography provides abundant marine resources, offering a diverse range of fish species that cater to the preferences of consumers. The fisheries sector is a critical source of livelihood for coastal communities, contributing to rural development and supporting the socio-economic fabric of these areas. There are certain challenges in the market leading to a reduction in the Philippines Fish Market Share. The Philippines fish market faces multifaceted challenges that impact both the fishing industry and consumers. Overfishing and unsustainable fishing practices have led to declining fish stocks, threatening the livelihoods of fishermen and the availability of affordable seafood for consumers. Poor post-harvest handling and storage practices contribute to significant post-catch losses. Furthermore, the lack of modern cold storage and distribution infrastructure limits the market`s ability to meet demand, especially in remote areas.

COVID-19 Impact on the Market

The COVID-19 pandemic has presented both challenges and opportunities for the Philippines fish market. Disruptions in the supply chain, logistical constraints, and a decline in consumer purchasing power during lockdowns impacted the market negatively. However, the pandemic has also prompted a renewed focus on food security, leading to government initiatives to strengthen the resilience of the fisheries sector. Enhanced safety measures, including improved hygiene practices and the adoption of digital technologies for market transactions, have been introduced to mitigate the impact of the pandemic. The fish market likely faced disruptions in supply chains and distribution channels. Lockdowns might have affected both fishing and transportation. The market`s recovery would depend on the restoration of these supply chains.

Key Players of the market

The Philippines fish market has various key players, ranging from large seafood processing corporations to local fisheries deeply enrooted in coastal communities of the country. Some major players in the industry include companies such as Century Pacific Food, Inc., a leading seafood processor known for its extensive range of canned tuna and other fish products, playing a pivotal role in both the domestic and international markets. Another prominent entity is Alliance Select Foods International, Inc., recognized for its global presence in the export of high-quality seafood products. Local cooperatives and fisherfolk organizations also contribute significantly to the market, representing the grassroots level of the industry. These smaller players often engage in sustainable and traditional fishing practices, supplying fresh seafood to local markets and contributing to the socio-economic fabric of coastal regions. The Philippines fish market is thus characterized by a harmonious blend of large-scale processors, export-oriented companies, and community-based fisheries, collectively shaping a dynamic and resilient sector that caters to diverse consumer demands and market segments.

Policies Introduced by the Government in the Philippines Fish Market

The government of the Philippines has implemented various initiatives to address the challenges facing the Fish Market in Philippines. These include the promotion of sustainable fishing practices, the enforcement of stricter regulations against illegal fishing, and investments in aquaculture to reduce the pressure on wild fish stocks. Furthermore, the government has been actively working on capacity-building programs for fisherfolk, aiming to enhance their skills and knowledge for improved resource management and economic resilience. These initiatives align with broader goals outlined in the Philippine Development Plan, focusing on inclusive growth, poverty alleviation, and environmental sustainability. In summary, the Philippines fish market reflects a dynamic interplay of traditional practices, modern industry players, and government efforts to navigate challenges and secure the future sustainability of this crucial sector.

Market by Fish type

On the basis of type, the Philippines Fish Industry is segmented into Inland Fishes, Marine Fishes, Shrimps, and Scampi.  Both inland and marine fish are expected to dominate the market due to their high demand by consumers.

Market by Product type

According to  Shivankar, Research Manager, 6Wresearch, On the basis of product, the market is segmented into Fresh, Frozen, Canned, and Others.  The fresh segment is anticipated to grow as the freshness of fish remains a key preference for many consumers and frozen and canned options offer convenience and longer shelf life, contributing to sustained growth.

Market by Sector

The market is by the organizational structure, with both organized and unorganized sectors playing pivotal roles. Organized sectors, often represented by large seafood processing corporations, follow modern production and distribution practices, ensuring quality and efficiency. Simultaneously, the unorganized sector, including local fisherfolk and smaller fisheries, contributes to the market's vibrancy, especially in more remote or traditional markets, and stimulates Philippines Fish Market Growth.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Philippines Fish Market Outlook
• Market Size of Philippines Fish Market, 2022
• Forecast of Philippines Fish Market, 2029
• Historical Data and Forecast of Philippines Fish Revenues & Volume for the Period 2019 - 2029
• Philippines Fish Market Trend Evolution
• Philippines Fish Market Drivers and Challenges
• Philippines Fish Price Trends
• Philippines Fish Porter's Five Forces
• Philippines Fish Industry Life Cycle
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Fish Type for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Inland Fishes for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Marine Fishes for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Shrimps for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Scampi for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Product Type for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Fresh for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Frozen for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Canned for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Distribution Channel for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Retail for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Institutional for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Sector for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Organised for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Fish Market Revenues & Volume By Unorganised for the Period 2019 - 2029
• Philippines Fish Import Export Trade Statistics
• Market Opportunity Assessment By Fish Type
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Distribution Channel
• Market Opportunity Assessment By Sector
• Philippines Fish Top Companies Market Share
• Philippines Fish Competitive Benchmarking By Technical and Operational Parameters
• Philippines Fish Company Profiles
• Philippines Fish Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments

Market by Fish type

• Inland Fishes
• Marine Fishes
• Shrimps
• Scampi

Market by product type

• Fresh
• Frozen
• Canned
• Others

Market by distribution

• Retail
• Institutional

Market by sector

• Organised
• Unorganised