Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Central Africa has seen minimal growth in recent years, influenced by factors such as limited access to technology, lower health awareness, and logistical challenges in delivering online services. Despite this, the market remains an important part of the region's Food Market, providing a vital source of sustenance for local communities.
Customer preferences: As consumers become more health-conscious, there is a growing preference for sustainably sourced and locally caught fresh fish in Central Africa. This trend is driven by a cultural appreciation for traditional fishing practices and a desire for healthier and more environmentally friendly food options. Furthermore, the rise in disposable income and changing demographics have led to an increased demand for premium fish varieties, such as salmon and tuna, in the region. This has also resulted in a shift towards online seafood delivery services, providing convenience and access to a wider range of fish products.
Trends in the market: In Central Africa, the Fresh Fish Market within the Fish & Seafood Market of The Food market is experiencing a surge in demand for sustainably sourced and traceable seafood products. This trend is driven by increasing consumer awareness of the environmental and health impacts of overfishing and the need for responsible sourcing practices. As a result, industry stakeholders are investing in technologies and partnerships to ensure transparency in the supply chain and meet consumer expectations. Additionally, there is a growing preference for locally caught and processed fish, highlighting the potential for domestic markets and sustainable economic growth. These trends are set to continue, making it imperative for industry players to adapt and innovate to remain competitive in this evolving market.
Local special circumstances: In Central Africa, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the region's rich biodiversity and abundance of freshwater resources. The market is also shaped by cultural traditions, where fish is a staple in local cuisine and plays a significant role in social gatherings and celebrations. Additionally, government regulations and policies play a crucial role in the market dynamics, with efforts to promote sustainable fishing practices and regulate trade to protect local fish populations. These unique factors contribute to the market's resilience and potential for growth in the region.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors in Central Africa. The region's economic growth, national health policies, and fiscal policies significantly impact the market's performance. Countries with stable economic growth and favorable policies for the seafood industry are experiencing higher demand for fresh fish products. Additionally, factors such as population growth, urbanization, and increasing disposable income are also driving the demand for fresh fish in the region. Moreover, the growing awareness of the health benefits of consuming fresh fish is further fueling market growth.
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)
