Fresh Fish - Seychelles

Seychelles

Highlights

Revenue in the Fresh Fish market amounts to US$10.18m in 2024. The market is expected to grow annually by 4.51% (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$94.00 are generated in 2024.
In the Fresh Fish market, volume is expected to amount to 897.80k kg by 2029. The Fresh Fish market is expected to show a volume growth of 3.9% in 2025.0.
The average volume per person in the Fresh Fish market is expected to amount to 7.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Fish Market in Seychelles has been experiencing minimal growth, influenced by various factors including the slow adoption of digital technologies, limited health awareness among consumers, and the traditional preference for purchasing seafood in person.

Customer preferences: As consumers become more health-conscious, there is a growing demand for sustainably sourced and organic fresh seafood in the Fish & Seafood Market within The Food market. This trend is further driven by the rising popularity of plant-based diets and the increasing awareness of the negative impact of unsustainable fishing practices on the environment. Additionally, the younger generation, with their focus on global sustainability, is also showing a preference for seafood that is responsibly and ethically sourced.

Trends in the market: In Seychelles, the Fresh Fish Market of the Fish & Seafood Market within The Food market industry is seeing a rise in sustainable fishing practices, with more companies implementing eco-friendly methods to catch and process seafood. This trend is significant as it addresses concerns about overfishing and environmental impact. Additionally, there is a growing demand for locally caught and sourced seafood, leading to an increase in small-scale fishing operations. These trends have implications for industry stakeholders, such as the need for investments in sustainable technology and the potential for increased competition among local fishermen.

Local special circumstances: In Seychelles, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by its unique geographical location and cultural traditions. Being surrounded by the Indian Ocean, the market offers a wide variety of fresh seafood options, making it a popular destination for tourists. Additionally, the country's strict regulations on sustainable fishing practices have contributed to the market's reputation for high quality and environmentally friendly products. This has also led to an increase in demand for locally sourced fish, further driving the market's growth.

Underlying macroeconomic factors: The growth of the Fresh Fish Market in Seychelles is also influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The country's strong tourism industry and stable economic growth have led to a high demand for fresh fish products. Additionally, the government's investments in infrastructure development, particularly in the fishing industry, have further contributed to the market's growth. However, challenges such as limited seafood resources and high production costs may hinder the market's growth. Nevertheless, the increasing global demand for sustainable and high-quality seafood products presents opportunities for the Fresh Fish Market in Seychelles to expand its market share.

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.