Fresh Seafood - Angola

Angola

Highlights

Revenue in the Fresh Seafood market amounts to US$370.30m in 2024. The market is expected to grow annually by 14.39% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$12bn in 2024).
In relation to total population figures, per person revenues of US$9.79 are generated in 2024.
In the Fresh Seafood market, volume is expected to amount to 51.14m kg by 2029. The Fresh Seafood market is expected to show a volume growth of 13.2% in 2025.0.
The average volume per person in the Fresh Seafood market is expected to amount to 1.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Seafood Market in Angola is experiencing considerable growth, driven by factors such as the increasing demand for seafood, the growing health consciousness of consumers, and the convenience of online seafood services. This growth is also influenced by the country's abundant seafood resources and the rising popularity of seafood in the Angolan cuisine.

Customer preferences: Consumers in Angola are showing a growing interest in sustainable seafood options, driven by a rising awareness of the environmental impact of traditional fishing practices. In addition, there is a growing demand for locally sourced seafood, as consumers prioritize supporting local fishermen and reducing carbon emissions from transportation. This shift towards sustainable and locally sourced seafood is also influenced by a desire for fresher and healthier food options, as consumers become more health-conscious and seek out food with minimal processing and additives.

Trends in the market: In Angola, there is a rising trend in the Fresh Seafood Market of the Fish & Seafood Market within The Food market, as in the previous paragraph 'In the United States, the Digital Health market is witnessing a rise in telemedicine services, with more healthcare providers offering virtual consultations to reach a larger patient base. In China, there is a growing trend of using health and fitness apps to track daily activities and monitor health metrics. In Europe, digital treatment platforms are gaining traction, allowing patients to access personalized treatment plans and medication management services online.' This trend is significant as it allows for easier and more convenient access to fresh seafood for consumers. It also has potential implications for industry stakeholders, as it may lead to increased competition and the need for businesses to adapt to the digital market in order to remain competitive. Additionally, it may open up new opportunities for businesses to expand their reach and tap into a larger customer base through online platforms.

Local special circumstances: In Angola, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's rich coastal resources and fishing traditions. However, strict government regulations and limited infrastructure for transportation and storage pose challenges for market growth. Additionally, cultural preferences for certain types of seafood and traditional fishing methods also impact market dynamics. These unique factors set Angola's Fresh Seafood Market apart from other markets and shape its competitive landscape.

Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily impacted by macroeconomic factors in Angola. The country's economic health and fiscal policies play a crucial role in determining the market's performance. Additionally, global economic trends, such as trade agreements and fluctuations in currency exchange rates, can greatly influence the import and export of seafood products. Furthermore, factors such as consumer purchasing power and inflation rates also have a significant impact on the demand and pricing of fresh seafood in the market. Finally, government regulations and policies related to food safety, environmental sustainability, and trade can also affect the growth and development of the Fresh Seafood 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.