Fresh Seafood - Brunei Darussalam

Brunei Darussalam

Highlights

Revenue in the Fresh Seafood market amounts to US$21.08m in 2024. The market is expected to grow annually by 1.71% (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$46.25 are generated in 2024.
In the Fresh Seafood market, volume is expected to amount to 621.10k kg by 2029. The Fresh Seafood market is expected to show a volume growth of 0.3% in 2025.0.
The average volume per person in the Fresh Seafood market is expected to amount to 1.3kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Seafood Market in Brunei Darussalam has seen minimal growth due to various factors, including limited consumer awareness, lack of digital technologies, and traditional purchasing patterns. These factors have hindered the market's growth rate, making it challenging for online seafood services to gain popularity.

Customer preferences: Consumers in Brunei Darussalam are showing a growing preference for sustainably sourced and locally caught seafood, as they become more conscious of their environmental impact. This trend is also influenced by the country's cultural and religious beliefs, which place emphasis on ethical and responsible consumption. As a result, the demand for certified organic and fair trade seafood is on the rise, and retailers are responding by expanding their offerings of these products. This shift towards sustainable seafood is expected to continue as consumers become more educated and aware of the importance of responsible fishing practices.

Trends in the market: In Brunei Darussalam, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is seeing an increasing demand for sustainably sourced seafood. Consumers are becoming more conscious of the environmental impact of seafood consumption and are actively seeking out responsibly harvested options. This trend is expected to continue, with potential implications for industry stakeholders such as the need to invest in sustainable fishing practices and certifications to meet consumer demands. Additionally, there is a growing trend of online seafood marketplaces, providing consumers with convenient access to a wide variety of fresh seafood options. This trend is likely to continue, with potential implications for traditional brick and mortar seafood markets.

Local special circumstances: In Brunei Darussalam, the Fresh Seafood Market within the Fish & Seafood Market is heavily influenced by the country's rich maritime culture and its location along the South China Sea. The market is known for its abundance of fresh, locally caught seafood, including prawns, crabs, and various types of fish. Additionally, the country's strict regulatory laws ensure that the seafood available in the market is of the highest quality. This unique combination of cultural and regulatory factors has created a thriving market for fresh seafood, attracting both locals and tourists alike.

Underlying macroeconomic factors: The growth of the Fresh Seafood Market in Brunei Darussalam is heavily influenced by macroeconomic factors such as the country's economic stability and its strong investment in the fishing industry. Brunei Darussalam's stable economy, supported by its oil and gas reserves, has created a favorable environment for business growth and consumer spending. This has resulted in a high demand for fresh seafood products in the country's domestic market. Additionally, government initiatives to promote and support the fishing industry have led to increased production and improved quality of fresh seafood, further driving market growth. However, external factors such as global economic trends and fluctuations in international seafood prices can also impact the performance of the market in Brunei Darussalam.

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.