Fresh Fish - Angola

Angola

Highlights

Revenue in the Fresh Fish market amounts to US$828.10m in 2024. The market is expected to grow annually by 7.81% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$57bn in 2024).
In relation to total population figures, per person revenues of US$21.91 are generated in 2024.
In the Fresh Fish market, volume is expected to amount to 126.90m kg by 2029. The Fresh Fish market is expected to show a volume growth of 1.8% in 2025.0.
The average volume per person in the Fresh Fish market is expected to amount to 3.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

In Angola, the Fresh Fish Market within The Food market is experiencing subdued growth due to various factors such as economic challenges, limited infrastructure, and high import costs. Despite these challenges, the market is still growing as consumers seek healthier food options and appreciate the convenience of buying fresh fish online.

Customer preferences: With the increasing awareness of sustainability and ethical consumption, consumers in Angola are showing a growing preference for locally sourced and responsibly caught fish and seafood. This trend is also influenced by the cultural value placed on fresh and high-quality ingredients in traditional Angolan cuisine. Additionally, the rise of health-consciousness in the country has led to a surge in demand for nutritious and protein-rich options, driving the popularity of fresh fish in the market.

Trends in the market: In Angola, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a growing trend towards sustainable and traceable seafood. With increasing consumer awareness and demand for ethically sourced seafood, industry stakeholders are adopting transparent supply chain practices and certification programs. This trend is significant as it not only promotes environmental sustainability, but also ensures food safety and quality for consumers. Additionally, it presents opportunities for market differentiation and access to premium markets. However, it also poses challenges for small-scale fishermen who may not have the resources to comply with these requirements. As a result, there is a need for collaboration and support from government and industry players to ensure a fair and inclusive market for all stakeholders.

Local special circumstances: In Angola, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's geographical location, with its long coastline facilitating a thriving fishing industry. Additionally, cultural preferences for fresh seafood and government regulations promoting sustainable fishing practices also play a significant role in market dynamics. As a result, the market offers a variety of locally caught fish and seafood, catering to the unique tastes and values of Angolan consumers.

Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Angola is significantly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The country's economic growth, inflation rates, and foreign exchange rates directly affect the purchasing power of consumers and their willingness to spend on fresh fish products. Additionally, government policies and regulations related to trade, import/export, and fishing licenses also play a crucial role in shaping the market. Moreover, the fluctuation of oil prices, which is Angola's main source of revenue, can greatly influence the country's overall economic performance and, in turn, the fresh fish market. On the other hand, rising health concerns, increasing demand for healthy and sustainable food options, and changing consumer preferences towards locally sourced and organic products are some of the factors that can positively impact the growth of the Fresh Fish Market in Angola.

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.