Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood market in Kenya has been experiencing subdued growth, impacted by various factors such as limited access to technology, lack of health awareness among consumers, and challenges with online services. Despite this, the market continues to grow steadily within the Fish & Seafood and overall Food industry, driven by local demand and increasing availability of fresh seafood products.
Customer preferences: As health and wellness continue to gain importance among consumers in Kenya, there has been a noticeable increase in demand for sustainably sourced and ethically raised seafood products. This trend is driven by a growing awareness of the environmental impact of fishing practices and a desire for healthier and more ethical food choices. Additionally, with the rise of e-commerce and online food delivery services, consumers are increasingly turning to online platforms to purchase fresh seafood, reflecting a shift towards more convenient and efficient shopping methods.
Trends in the market: In Kenya, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably sourced seafood. This trend is being driven by an increasing awareness of the environmental impact of overfishing and a growing preference for ethically and sustainably produced food products. As a result, there has been a rise in certifications and labels promoting sustainable seafood, such as the Marine Stewardship Council (MSC) certification. This trend is expected to continue, with consumers becoming more conscious of their seafood choices and demanding transparency from industry stakeholders. This presents an opportunity for seafood suppliers to differentiate themselves by promoting sustainable practices, while also posing a challenge for those who do not meet these standards.
Local special circumstances: In Kenya, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's coastal location and rich fishing culture. The market is characterized by a diverse range of local seafood offerings, such as tilapia, lobster, and prawns, which are popular among both locals and tourists. Additionally, regulations on sustainable fishing practices and strict quality control standards have played a crucial role in shaping the market. This has resulted in a steady supply of high-quality seafood, making Kenya's Fresh Seafood Market a sought-after destination for seafood lovers.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market in Kenya is influenced by several macroeconomic factors. The country's economic health, global economic trends, fiscal policies, and other financial indicators such as inflation and consumer spending play a significant role in shaping the market's performance. Kenya's GDP growth and stable inflation rate have created a conducive environment for market growth. However, the uncertain political climate and weak regulatory framework have hindered the market's potential. Additionally, the rising demand for seafood in the country, driven by a growing population and increasing disposable income, has positively impacted 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.
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