Fish & Seafood - Angola

Angola

Highlights

Revenue in the Fish & Seafood market amounts to US$1.75bn in 2024. The market is expected to grow annually by 11.22% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$97bn in 2024).
In relation to total population figures, per person revenues of US$46.26 are generated in 2024.
In the Fish & Seafood market, volume is expected to amount to 279.30m kg by 2029. The Fish & Seafood market is expected to show a volume growth of 7.1% in 2025.0.
The average volume per person in the Fish & Seafood market is expected to amount to 6.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fish & Seafood market in Angola is experiencing mild growth, influenced by increasing adoption of digital technologies, growing health consciousness among consumers, and the convenience of online services. The sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood are all contributing to this trend. Factors such as technological advancements and changing consumer preferences are impacting the market's growth rate.

Customer preferences: As Angola's economy continues to grow, there has been a significant increase in consumer demand for high-quality and sustainable seafood. This trend is driven by a growing awareness of the health benefits of seafood and a desire for environmentally friendly food choices. Additionally, with a rising middle class and increasing disposable income, consumers are also willing to pay a premium for premium seafood products. As a result, the market is seeing a rise in the availability of locally sourced and ethically caught seafood, as well as a growing interest in exotic and international seafood options.

Trends in the market: In Angola, the Fish & Seafood Market is experiencing a surge in demand for sustainable and traceable seafood products. This trend is being driven by consumer demand for ethical and environmentally-friendly options. Industry stakeholders are responding by implementing more transparent supply chains and investing in sustainable fishing practices. This trajectory is significant as it addresses concerns about overfishing and supports the local economy. However, there may be potential implications for smaller fishing companies who may struggle to meet the standards and costs associated with sustainable practices. As a result, industry stakeholders must find a balance between meeting consumer demands and supporting smaller businesses.

Local special circumstances: In Angola, the Fish & Seafood Market is heavily influenced by the country's vast coastline and rich marine resources. The local culture places a high value on seafood, making it a staple in everyday cuisine. However, strict government regulations on fishing and seafood exports have resulted in a limited supply, driving up prices and creating a competitive market. Additionally, cultural preferences for fresh seafood over frozen imports have shaped the market, with local fishermen and small-scale producers dominating the industry. These unique factors contribute to the dynamics of the Fish & Seafood Market in Angola, setting it apart from other markets in the Food industry.

Underlying macroeconomic factors: The Fish & Seafood Market in Angola is significantly impacted by macroeconomic factors such as global demand for seafood, national economic policies, and investment in fishing infrastructure. Countries with strong fishing industries and favorable trade agreements are experiencing higher market growth than those with limited access to international markets. Additionally, the growing popularity of sustainable and traceable seafood products is driving the demand for high-quality, responsibly sourced fish and seafood in Angola and globally. As the global population continues to grow, the demand for fish and seafood is expected to increase, making it a key market to watch in the food industry.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.