Welcome to the third edition of the SUBU Connect Market Insight Series.
SUBU Connectconducts market insight studies to provide market participants with timely updates and practical analysis across a range of food categories. From pricing trends and current challenges to emerging opportunities for suppliers and buyers, each edition provides an insightful view of current market conditions and future outlooks.
This edition of the market insight series is focused on the Irish Fish & Seafood markets.
1. MARKET SNAPSHOT
2. MARKET OVERVIEW
In 2024, Ireland’s seafood exports grew by 9%, reaching an estimated €595 million. This growth was supported by strong performances across multiple categories, driven by increased export volumes, rising global demand, and expanding markets. The European Union remains the largest destination, with key countries including France, Spain, Italy, Germany, and the Netherlands, while other important markets include China and Japan. The sector’s reputation for sustainably sourced, high-quality seafood, along with ongoing investment in value-added products, strengthened Ireland’s competitive position internationally.
On the import side,In 2024, Ireland’s seafood imports were valued at approximately €276 million, reflecting a 24% increase from €223 million in 2023. Main suppliers include other EU countries as well as Norway. Imports ensure a stable supply, particularly when domestic production is seasonal or limited. Ireland’s strong integration within the EU single market and its focus on quality, traceability, and sustainability help maintain a balanced trade position, supporting the overall resilience and growth of the Irish seafood sector.
Figure 1. Exports share by value in 2024
Estimated Value
3. MARKET SIZE
In 2024, Ireland’s seafood economy was valued at approximately €1.24 billion, reflecting steady and sustained growth across its main sub-sectors. The seafood processing sector was the largest contributor, generating an estimated €957 million in turnover, driven by innovation, product diversification, and strong export demand. The fishing industry followed with a value of around €461 million, supported by active offshore and coastal operations, while aquaculture contributed approximately €211 million, benefitting from improved production volumes and stable market prices. Collectively, these sectors showcase the resilience of Ireland’s seafood economy, which achieved a compound annual growth rate (CAGR) of about 3.5% between 2020 and 2024.
The Irish fish and seafood industry employs over 16,400 people directly and indirectly. This includes about 1,993 registered fishing vessels and around 100 seafood processors, making it a significant economic contributor, especially in coastal communities. The Irish seafood sector includes 40 verified Origin Green members, reflecting the industry’s focus on quality and sustainable practices.
4.TRENDS BY KEY PRODUCTS
In addition to salmon, mackerel, herring, shellfish, and whitefish, Ireland produces a variety of other seafood including trout, cod, plaice, prawns, and squid, Seasonal catches from local fisheries offer high-quality products for both domestic and international markets.
Figure 2. Irish Seafood Export Values by Product Category and Destination, 2024
5. RECOMMENDATIONS
The Irish seafood sector is growing, but several areas could be strengthened:
- Quota Management:Reduce reliance on EU (European Union) quotas and foreign landings through flexible strategies and cooperative arrangements. Improved quota planning will help stabilize supply and will ensure consistent market delivery.
- Market Diversification: Expand exports to North America, Asia, and premium niche markets to reduce dependence on traditional EU buyers. Diversifying markets can also protect the sector from economic fluctuations and regional demand shocks.
- Value Addition: Invest in ready-to-eat, ready-to-cook, and other value-added products to increase competitiveness. Developing innovative products will appeal to modern consumers, eager to receive convenience and premium quality.
- Logistics: Improving storage and transport efficiency will reduce waste and enhance product quality.
- Technology and Consumer Engagement:Leverage e-commerce, digital marketing, and education campaigns to reach new consumers and highlight quality and health benefits. Enhanced digital presence can boost domestic and international sales.
References:
Bord Bia (2025) available at: https://www.bordbia.ie
BIM, 2024 – Irish Seafood Facts & Figures 2024 ,available at: https://bim.ie/a-seafood-way-of-life/facts-and-figures/
Department of Agriculture, Food and the Marine (DAFM)-Marine
Central Statistics Office (CSO). External Trade Statistics (CN03 – Fish and Crustaceans) and Sea Fisheries Production 2024. Dublin: CSO, 2024. Available at: https://www.cso.ie/
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