Fresh Seafood - Seychelles

Seychelles

Highlights

Revenue in the Fresh Seafood market amounts to US$5.00m in 2024. The market is expected to grow annually by 7.15% (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$46.18 are generated in 2024.
In the Fresh Seafood market, volume is expected to amount to 303.80k kg by 2029. The Fresh Seafood market is expected to show a volume growth of 5.6% in 2025.0.
The average volume per person in the Fresh Seafood market is expected to amount to 2.2kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Seafood market in Seychelles is experiencing slow growth, impacted by factors such as limited resources and economic constraints. Despite this, the market is driven by the high demand for fresh, locally sourced seafood and the convenience of online purchasing options.

Customer preferences: Consumers in Seychelles are increasingly prioritizing sustainable and ethically-sourced seafood options, driving demand for traceable and locally-sourced fresh seafood. This trend is fueled by a growing awareness of the environmental impact of overfishing and a desire to support local fishermen and traditional fishing methods. Additionally, the rise in health-conscious lifestyles has led to a higher demand for wild-caught and organic seafood, reflecting a shift towards more mindful and conscientious consumption.

Trends in the market: In Seychelles, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably-sourced and locally-caught seafood. This trend is driven by a growing consumer awareness of the environmental impact of seafood production and a desire for fresher, higher quality products. As a result, stakeholders in the industry are investing in sustainable fishing practices and promoting the traceability of their seafood products. In the long term, this trend is expected to drive growth in the local seafood market and attract eco-conscious tourists to the country.

Local special circumstances: In Seychelles, the Fresh Seafood Market within the Fish & Seafood Market of The Food market is heavily influenced by the country's unique geographical location. As an archipelago in the Indian Ocean, Seychelles has a thriving fishing industry, providing a constant supply of fresh seafood to the local market. Additionally, the country's cultural heritage and strong emphasis on sustainability play a significant role in shaping the market dynamics. The government has implemented strict regulations to ensure sustainable fishing practices, making Seychelles a leader in sustainable seafood production. This focus on sustainability has also led to a growing demand for organic and locally sourced seafood, further driving market growth.

Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is greatly influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Countries with strong economic growth and stable fiscal policies tend to have a higher demand for fresh seafood, leading to greater market growth. Additionally, changes in consumer spending patterns and disposable income levels can greatly impact the demand for seafood products. Furthermore, government policies, such as trade agreements and regulations, can also play a significant role in shaping the market by affecting import and export levels and prices.

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.