Fresh Fish - Equatorial Guinea

Equatorial Guinea

Highlights

Revenue in the Fresh Fish market amounts to US$96.55m in 2024. The market is expected to grow annually by 12.95% (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$55.02 are generated in 2024.
In the Fresh Fish market, volume is expected to amount to 5.53m kg by 2029. The Fresh Fish market is expected to show a volume growth of 10.5% in 2025.0.
The average volume per person in the Fresh Fish market is expected to amount to 2.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Fish Market in Equatorial Guinea is currently experiencing mild growth, influenced by factors such as increasing demand for fresh seafood, a growing awareness of the health benefits of fish consumption, and the convenience of purchasing online. This growth is expected to continue as the market adapts to the changing preferences of consumers.

Customer preferences: In Equatorial Guinea, there has been a noticeable increase in demand for locally-sourced, fresh fish due to a growing emphasis on sustainable and environmentally-friendly food options. This trend is driven by a rise in awareness of the importance of preserving marine ecosystems and supporting local communities. As a result, consumers are increasingly seeking out fresh fish from local markets and small-scale fishermen, rather than relying on imported seafood. This shift towards locally-sourced fresh fish reflects a broader cultural shift towards more conscious and ethical food choices among consumers.

Trends in the market: In Equatorial Guinea, the Fresh Fish Market within the Fish & Seafood Market is experiencing a shift towards sustainable fishing practices, with government initiatives promoting the use of eco-friendly fishing techniques. This trend is also reflected in the increasing consumer demand for sustainably sourced seafood. Furthermore, there is a rising demand for premium and exotic seafood varieties, with consumers willing to pay a premium for high-quality and unique products. These trends are significant for industry stakeholders as they present opportunities for differentiation and expansion into new markets. However, they also pose challenges in terms of sourcing and supply chain management. Overall, the trajectory of these trends indicates a growing demand for sustainable and premium seafood products, which could have implications for the industry in terms of pricing, marketing, and sourcing strategies.

Local special circumstances: In Equatorial Guinea, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's proximity to the Atlantic Ocean. This location allows for a diverse range of fish and seafood options, including tuna, lobster, and shrimp. Additionally, the local culture places a strong emphasis on fresh and locally sourced ingredients, making the Fresh Fish Market a popular choice for consumers. The government has also implemented strict regulations on fishing practices, ensuring sustainable and ethical sourcing of seafood. These factors contribute to the unique dynamics of the Fresh Fish Market in Equatorial Guinea.

Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Equatorial Guinea is influenced by various macroeconomic factors. These include global economic trends, national economic health, fiscal policies, and other financial indicators. For instance, the demand for fresh fish is influenced by the overall economic growth of the country. Countries with strong economic growth tend to have higher demand for fresh fish as consumers have higher purchasing power. Additionally, government policies such as subsidies and trade agreements also impact the market performance. Moreover, the overall health of the national economy can affect the supply of fresh fish, as it can impact the fishing industry and the availability of resources. These macroeconomic factors play a crucial role in shaping the performance of the Fresh Fish Market in Equatorial Guinea.

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.