Located on Alexandra Parade, in the town's North Harbour, it is owned by Peterhead Port Authority.

[2] Peterhead Harbour's fishing industry consists of three categories of species: demersal, pelagic and shellfish.

[2] The fish market moved to new premises, from Merchants Quay in the nearby South Harbour,[3] in 2018, with Prince Charles performing the ribbon cutting.

[5] A boycott by processors in January 2023 forced the fish market to suspend its auctions for the first time in its history.

[2] The BBC television series The Trawlermen shot scenes at the original fish market.