Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Central Africa is experiencing subdued growth due to various factors such as limited infrastructure, high import costs, and lack of consumer awareness. Despite this, the market is expected to grow in the coming years due to increasing health consciousness, government initiatives, and the availability of online purchasing options.
Customer preferences: There is a growing trend in Central Africa of consumers preferring sustainably sourced fish and seafood products, driven by increasing awareness of environmental issues and a desire for ethically-sourced food. This trend is also influenced by cultural values and traditions, as many communities in the region have strong ties to fishing and seafood as a staple part of their diet. As a result, companies in the Fish & Seafood Market within The Food market are increasingly offering transparency and traceability in their supply chain, as well as promoting sustainable fishing practices to meet the changing demands of consumers.
Trends in the market: In Central Africa, the Fish & Seafood Market is seeing a rise in demand for sustainably sourced seafood products. This trend is driven by increasing consumer awareness of the environmental impact of traditional fishing methods and a growing interest in ethical and responsible consumption. As a result, industry stakeholders are investing in sustainable fishing practices and promoting certifications such as Fair Trade and Marine Stewardship Council. Additionally, there is a growing market for alternative seafood products, such as plant-based seafood substitutes, which could have implications for traditional seafood producers in the region.
Local special circumstances: In Central Africa, the Fish & Seafood market is heavily influenced by the region's abundant natural resources and vibrant fishing culture. The market is also impacted by government regulations aimed at preserving the region's marine life and promoting sustainable fishing practices. Additionally, the diverse cultural influences in Central Africa have led to a variety of unique seafood dishes and preparation methods, further shaping the market dynamics. These factors make the Fish & Seafood market in Central Africa distinct from other food markets, creating opportunities for local businesses to cater to the specific needs and preferences of the region's consumers.
Underlying macroeconomic factors: The Fish & Seafood Market within The Food market in Central Africa is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. The growth of this market is greatly impacted by the overall economic stability of the region, as well as government policies and investments. Countries with strong economic growth and stable fiscal policies are likely to see a higher demand for fish and seafood products, while those with economic challenges may experience slower market growth. Additionally, the increasing demand for healthier food options and the growing population in Central Africa are also driving the demand for fish and seafood products.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
