Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Kenya is experiencing minimal growth due to factors such as limited access to technology and low health awareness among consumers. The sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood face challenges in distribution and marketing, hindering overall market growth.
Customer preferences: Consumers in Kenya are showing a growing preference for locally sourced and sustainably caught fish and seafood products. This trend is fueled by a desire for fresher and more environmentally friendly options. Additionally, there is a rise in demand for value-added seafood products, such as ready-to-eat meals and frozen seafood, as consumers seek convenience and variety in their diets. Furthermore, there is a growing interest in seafood products with perceived health benefits, such as omega-3 rich fish and shellfish, as consumers become more health-conscious.
Trends in the market: In Kenya, the Fish & Seafood Market is experiencing a shift towards sustainable and environmentally-friendly practices. This trend is driven by increased awareness of the negative impact of overfishing and the importance of preserving marine ecosystems. As a result, there has been a rise in demand for certified sustainable seafood, such as those with the Marine Stewardship Council (MSC) label. This trend is expected to continue as consumers become more conscious of their food choices and demand for sustainable options. For industry stakeholders, this presents an opportunity to invest in sustainable practices and certifications, as well as to capitalize on the growing demand for responsible and ethical seafood. Additionally, this trend could potentially lead to stricter regulations and standards for the fishing industry, making it essential for businesses to adapt and comply in order to remain competitive in the market.
Local special circumstances: In Kenya, the Fish & Seafood market is heavily influenced by the country's proximity to the Indian Ocean, which provides a rich source of fresh seafood. The market is also shaped by cultural preferences, with fish being a staple in many local dishes. Additionally, government regulations aimed at protecting the fishing industry and promoting sustainable practices play a significant role in market dynamics. These factors contribute to Kenya's unique fish and seafood market, making it a key player in the global seafood industry.
Underlying macroeconomic factors: The Fish & Seafood Market in Kenya is greatly impacted by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Kenya's strong economic growth, coupled with its growing middle class, has resulted in increased demand for fish and seafood products. Additionally, government initiatives to promote sustainable fishing practices have positively influenced the market. However, challenges such as inadequate infrastructure and high production costs hinder market growth. Furthermore, fluctuations in global fish prices and currency exchange rates also affect the market's performance.
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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