According to the Market Statsville Group (MSG), the Global Barramundi Market size is expected to grow at a CAGR of 5.1% from 2023 to 2033.

Barramundi is a popular and highly-prized fish species native to the coastal regions of the Indo-West Pacific, particularly Australia and Southeast Asia. This fish is mainly preferred by chefs owing to its white flesh and mild flavor and has wide application in various cuisines. Barramundi is a carnivorous species known for its opportunistic feeding habits, preying on a diverse range of aquatic organisms such as crustaceans and smaller fish, and can bloom in both freshwater and saltwater environments.

The rising awareness of sustainable and responsible seafood consumption has driven the demand for barramundi. As barramundis can be raised in closed-loop, recirculating aquaculture systems, ensure minimal water pollution, reduced disease transmission, and efficient resource utilization, thereby creating a positive environmental impact on the market. The growing focus on health and nutrition and growing consumer preference for a healthy diet are driving demand for the barramundi market. It is a low-fat fish with a high protein content and is a good source of essential omega-3 fatty acids, thereby benefitting cardiovascular and overall health. The growing online food shows and rising desire to cook or try different cuisine and taste has upsurged the market’s growth. For instance, barramundi’s is used in sushi preparation, and grilled and baked barramundi fish is used in various Australian and South Asian cuisines. Thus, the increasing demand for barramundi in the market can be attributed to its sustainability, health benefits, and culinary versatility.

Barramundi Market Segmental Analysis, 2023-2033

Based on type, the market is divided into fresh fish and frozen fish. The fresh fish are majorly preferred over frozen fish, marking its dominance in the barramundi market globally in 2023. Consumers have a growing preference for fresh seafood due to its superior taste, quality, and nutritional value, driving segmental growth. Fresh barramundi, often available in local markets and seafood counters, ensuring the highest quality and taste, is fostering the demand for locally sourced barramundi. Further, the increasing awareness of health and its lower carbon footprint compared to frozen is augmenting the market’s growth. However, the frozen fish segment is expected to create a lucrative growth opportunity over the forecast period. The growing demand for convenient and ready-to-cook food across the globe drives the demand for frozen barramundi. Further, frozen barramundi is available in areas where access to fresh fish is limited, expanding its reach to a huge customer base and thereby augmenting the market’s growth.

Based on the regions, the global barramundi market has been segmented across North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Asia Pacific accounted for the largest market share in 2023. The growing tourism and hospitality sector in the region creates a lucrative growth opportunity for the market. The growing tourism resulted in driving demand for new and international cuisine with different tastes and unique food recipes, significantly upsurging the demand for barramundi fish in the region. Further, the region’s demand for the aquaculture industry and rising preference for freshwater barramundi fish have augmented the market’s growth. Also, the growing frozen food industry, as well as busy lifestyles, enhance the demand for ready-to-cook food, resulting in fostering the market’s growth.

Barramundi Market Key Players, 2023

The Barramundi market is moderately competitive, with key participants employing sustainable aquaculture practises, product diversification, and market expansion. Future expansion is anticipated to be propelled by rising consumer demand for sustainable and healthy seafood. To capture a larger market share, businesses are investing in R&D for innovative production methods and marketing campaigns. Therefore, the Barramundi market is poised for expansion due to strategic planning and new product development. The Major key players in the global barramundi market are:

• Australis Aquaculture
• Barramundi Group
• Tassal
• MainStream Aquaculture
• Kühlbarra
• Clean Seas Seafood
• Apollo Aquaculture Group
• Clean Harvest
• Australia's top barramundi farmers
• Liang Shing
• Humpty Doo Barramundi

Recent Developments:

• In August 2023, Tassal acquired MPA Fish Farms and MPA Marketing of the Western Australian barramundi farm. The acquisition has expanded its barramundi offering, as MPA currently produces around 1,600 tonnes of barramundi annually in Australia.
• In June 2023, Australis Holdings, Inc. (Australis) and Asian Development Bank (ADB) invested around USD 15 million to support the development of a second regional production hub for barramundi and seaweed aquaculture in Vietnam.
• In May 2022, MainStream Aquaculture, and Opal, an Australian paper and packaging group, established the world’s largest indoor bio-secure aquaculture facility for growing and processing sustainable Australian barramundi, in Australia.
• In January 2020, Barramundi Asia, a Singapore-based aquaculture producer acquired Allegro Aqua, to expand its production of a high-quality strain of Asian seabass (barramuni).

Report Scope of the Global Barramundi Market

This market research study categorizes the barramundi market-based on type, and application area at the regional and global levels.

By Type Outlook (Sales, USD Million, 2019-2033)

• Fresh Fish
• Frozen Fish

By Application Outlook (Sales, USD Million, 2019-2033)

• Food Service Sector
• Retail Sector

By Region Outlook (Sales, USD Million, 2019-2033)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA