Definition:
The Processed Fish & Seafood market covers all types of fish and seafood that have either been smoked, dried, canned, salted or given chemical preservatives.
Additional Information:
The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.
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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The Processed Fish & Seafood Market in Central Africa is seeing moderate growth, influenced by factors such as increasing consumer demand for convenient, ready-to-eat fish products, and rising health consciousness. The sub-markets of Canned, Dried & Smoked Fish, and Fish Fingers & Portions are driving this growth, with their popularity and accessibility contributing to the overall market growth. However, challenges such as limited infrastructure and supply chain inefficiencies are impacting the market's growth rate.
Customer preferences: Consumers in Central Africa are increasingly opting for processed fish and seafood products due to their convenience and longer shelf life. This trend is driven by the growing urbanization and hectic lifestyles in the region. Moreover, there is a growing preference for healthier food options, leading to an increase in demand for processed fish and seafood products, which are perceived as a healthier alternative to red meat and poultry. This shift in consumer preferences is also influenced by the rising awareness of sustainable and ethical food consumption.
Trends in the market: In Central Africa, the Processed Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainable and traceable seafood products. This trend is driven by increasing consumer awareness and concerns about the environmental impact of fishing practices. As a result, industry stakeholders are investing in technologies and certifications to ensure transparency and accountability in the supply chain. This trend is expected to continue as consumers become more conscious of their food choices and governments implement stricter regulations. This presents opportunities for companies to differentiate themselves and build trust with consumers.
Local special circumstances: In Central Africa, the Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market is influenced by various factors. Due to the region's large coastline and abundant marine resources, fishing is a significant source of livelihood for many. However, lack of infrastructure and technology hinder the efficient processing and distribution of seafood products. Additionally, cultural preferences for certain types of fish and seafood, as well as regulatory challenges, can impact market demand and supply. These unique factors contribute to the market dynamics of the Processed Fish & Seafood Market in Central Africa.
Underlying macroeconomic factors: The Processed Fish & Seafood Market within The Food market is greatly impacted by macroeconomic factors in Central Africa. The region's economic health, national policies, and global economic trends all play a significant role in shaping the performance of the market. With a growing population and increasing disposable income, there is a rising demand for processed fish and seafood products, driving market growth. However, challenges such as inadequate infrastructure, limited investment, and regulatory barriers can impede market growth. Additionally, the high prevalence of malnutrition and food insecurity in the region creates a need for affordable and nutritious food options, which can also impact the demand for processed fish and seafood products.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights