A New Chapter for Australian Seafood: What Consumers Can Expect by December 2025
As December 2025 approaches, Australian seafood consumers are poised for an exciting transformation at the Sydney Fish Market (SFM). With a major redevelopment scheduled to open its doors between October and December, this $750 million investment promises to significantly enhance the shopping and dining experience for seafood lovers.
The new SFM aims to double annual visitation to over six million people, reflecting a growing enthusiasm for seafood. Picture a vibrant four-story market featuring a variety of fishmongers, specialty retailers, and a diverse range of dining options that cater to different tastes and preferences. This expansion will make it easier than ever for consumers to enjoy the freshest seafood the market has to offer.
Enhanced Accessibility
To accommodate the expected increase in visitors, the NSW Government is investing $30 million in a new commuter ferry wharf at the market and a $40 million upgrade to the Wentworth Park light rail stop. These enhancements will ensure that the market is easily accessible to both locals and tourists, making seafood shopping an effortless experience.
A Commitment to Sustainability
Sustainability is a core principle of the new market’s design. Features such as wetlands to filter stormwater will promote environmental responsibility and align with the values of consumers who prioritize sustainable choices in their purchasing decisions. By supporting the new market, consumers will also play a part in protecting local ecosystems.
Educational Engagement
The market will go beyond commerce by offering educational initiatives, including an expanded cooking school and more accessible auction areas. These features aim to provide consumers with insights into the seafood supply chain, enriching their experience and fostering a deeper appreciation for seafood sourcing and preparation.
National Trends Impacting Seafood Consumers
As we anticipate the grand reopening of the SFM, various national trends are shaping the Australian seafood scene: -
Mandatory Country-of-Origin Labelling (CoOL): Starting July 1, 2025, all food service venues will be required to label seafood accurately, indicating whether it is Australian (A), Imported (I), or Mixed (M). This initiative enhances transparency and empowers consumers to make informed choices.
Australian Fish Name Standard (AFNS): Transitioning from voluntary to mandatory status ensures that consumers receive accurate information about the seafood they purchase, thus upholding food safety standards and preventing misleading practices. The main objectives of Food Standards Australia New Zealand (FSANZ) are to ensure food is safe and suitable for human consumption, prevent misleading conduct in food sales, and provide adequate information to enable informed consumer choices so the SCA await news when FSANZ will get this finalised along with withdrawing mercury warnings.
Market Growth: Australia’s seafood market, valued at AUD 5.69 billion in 2024, is projected to grow at a compound annual growth rate (CAGR) of 3.90%, potentially reaching AUD 8.34 billion by 2034. This growth reflects rising consumer interest in seafood and the industry’s ability to meet demand.
Regional Highlights
Several states are also making significant changes that will impact seafood consumers:
Queensland (QLD): The state government has repealed investment warnings on commercial fisheries, fostering a supportive environment for the $354 million industry. This reform aims to stabilize production and increase the availability of locally sourced seafood for consumers.
South Australia (SA): The Seafood Export Growth Program has been successful in helping exporters diversify into new markets, but this initiative will conclude in June 2025. Starting in July, consumers can expect a broader range of innovative and sustainable seafood products, supported by strong industry investment in quality and transparency.
Victoria (VIC): New fishing regulations are establishing "no go" zones for certain species, affecting areas for gummy sharks, rock lobster, and octopus. Additionally, the Victorian Fisheries Authority is undergoing workforce reductions, transitioning toward a model that emphasizes educational outreach. How this will impact supplies and prices is under notice!
Western Australia (WA): The state continues to promote its seafood industry through sustainable fishing practices. Initiatives aimed at boosting local production and enhancing exports are in place, with a focus on high-quality species like rock lobsters and premium fish. The state is also investing in marketing strategies to increase the visibility of its seafood both domestically and internationally.
Tasmania: Tasmania's seafood sector is bolstered by its reputation for premium products, particularly in aquaculture. The industry is focusing on innovation and sustainable practices to enhance production and meet growing consumer demand.
Initiatives to expand local markets and improve supply chain transparency are underway, ensuring that Tasmanian seafood remains highly regarded both locally and abroad. However, the Tasmanian election on 19 July may see a change in plans so Tasmania is a ‘watch and see’.
Conclusion: It must be said that Australia relies heavily on imported seafood, with imports accounting for roughly 60-75% of the seafood consumed, according to various sources. This means that a significant portion of the fresh, frozen, and canned seafood available in Australia is sourced from other countries, primarily from Asia. Australia should be doing much better, especially as the water Australia controls is 3 times its land size!
Hopefully the grand opening of the new Sydney Fish Market and the evolving landscape of the Australian seafood industry signal an exciting future for seafood lovers and more political will to produce more Australian product.
With a commitment to accessibility, sustainability, and education, consumers can look forward to a diverse range of offerings that prioritize responsible sourcing and environmental stewardship. As we prepare for December 2025, it’s clear that a new era in Australian seafood is on the horizon, benefiting consumers from all regions.