Fresh Seafood - Rwanda

Rwanda

Highlights

Revenue in the Fresh Seafood market amounts to US$63.13m in 2024. The market is expected to grow annually by 12.09% (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$4.38 are generated in 2024.
In the Fresh Seafood market, volume is expected to amount to 2.94m kg by 2029. The Fresh Seafood market is expected to show a volume growth of 9.5% in 2025.0.
The average volume per person in the Fresh Seafood market is expected to amount to 0.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Seafood Market in Rwanda is experiencing a mild growth rate, driven by increasing demand for fresh seafood due to rising health consciousness and convenience of online services. Factors such as favorable climate and growing aquaculture practices are also impacting this growth rate.

Customer preferences: Consumers in the Fresh Seafood Market of the Fish & Seafood Market within The Food market are increasingly prioritizing sustainability and ethical sourcing when making purchasing decisions. This trend is driven by growing concerns about the environmental impact of fishing practices, as well as the treatment of workers in the seafood industry. As a result, there is a rising demand for certified sustainable seafood and transparent supply chains. Additionally, there is a growing preference for locally sourced seafood, reflecting a desire to support local economies and reduce carbon emissions from transportation.

Trends in the market: In Rwanda, there is a growing trend towards sustainable and eco-friendly practices in the Fresh Seafood Market of the Fish & Seafood Market within The Food market. This includes the use of sustainable fishing methods, such as aquaculture, and the adoption of packaging and transportation methods that minimize carbon footprint. This trend is significant as it aligns with consumer demands for ethically-sourced and environmentally-friendly products. Industry stakeholders must adapt to these changing preferences in order to remain competitive and meet consumer expectations. Additionally, this trend has potential implications for the seafood market as a whole, as unsustainable fishing practices can lead to overexploitation of resources and harm to marine ecosystems. Therefore, it is crucial for industry stakeholders to continue promoting and investing in sustainable practices to ensure the long-term viability of the Fresh Seafood Market.

Local special circumstances: In Rwanda, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's geography. Being a landlocked country, Rwanda relies heavily on imports for its seafood supply, which has a significant impact on market dynamics. Additionally, the country's cultural preference for fresh, locally sourced food has led to the growth of small-scale, sustainable fishing practices, creating a niche market for high-quality seafood. Finally, regulatory efforts to promote food safety and traceability have also shaped the market, with consumers increasingly demanding transparency and accountability from seafood suppliers.

Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is greatly impacted by macroeconomic factors in Rwanda. The country's economic growth and stability, as well as global economic trends, play a significant role in the performance of the market. In addition, fiscal policies and other financial indicators, such as inflation and exchange rates, can greatly influence the demand and supply of fresh seafood in the market. Moreover, the government's investment in the seafood industry and the overall healthcare infrastructure of the country can also have a significant impact on the market's growth. With a growing population and increasing demand for healthy food options, the Fresh Seafood Market in Rwanda is expected to experience a positive growth trajectory in the coming years.

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.