Processed Fish & Seafood - Namibia

Revenue in the Processed Fish & Seafood market amounts to US$39.70m in 2024. The market is expected to grow annually by 7.09% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$32bn in 2024).
In relation to total population figures, per person revenues of US$15.00 are generated in 2024.
In the Processed Fish & Seafood market, volume is expected to amount to 4.37m kg by 2029. The Processed Fish & Seafood market is expected to show a volume growth of 4.7% in 2025.0.
The average volume per person in the Processed Fish & Seafood market is expected to amount to 1.5kg in 2024.

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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Canned, dried and smoked fish
Processed seafood
Surimi-based products
Fish sticks, Fish nuggets

Fresh and frozen fish
Fresh and frozen seafood
Ready-to-eat meals
Caviar and prepared and preserved shark fins
Out-of-home consumption

The Processed Fish & Seafood Market in Namibia is experiencing subdued growth, influenced by factors such as changing consumer preferences, increasing competition, and uncertain economic conditions. Despite this, the market is expected to see moderate growth due to rising health consciousness and convenience offered by canned, dried & smoked fish, and fish fingers & portions.

Customer preferences: In Namibia, the demand for healthy and sustainable food options has led to a rise in consumer preference for sustainably sourced processed fish and seafood products. Additionally, there is a growing trend towards convenient and ready-to-eat seafood products, as busy lifestyles and increasing urbanization drive demand for quick and easy meal solutions. This shift is also influenced by the rising awareness of the health benefits of consuming fish and seafood as part of a balanced diet.

Trends in the market: In Namibia, there is a noticeable shift towards sustainable fishing practices, with companies using eco-friendly methods and consumers demanding ethically sourced products. This trend is expected to continue as environmental concerns grow and consumers become more conscious of their purchasing decisions. Additionally, there is a growing demand for value-added seafood products in the region, creating opportunities for companies to expand their product offerings and cater to changing consumer preferences. These trends could have significant implications for industry stakeholders, such as increased competition and the need to adapt to changing market demands. Furthermore, the adoption of technology in the processing and packaging of fish and seafood products is expected to continue, improving efficiency and sustainability in the industry.

Local special circumstances: In Namibia, the Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market is influenced by the country's coastal location and rich fishing industry. The local culture also plays a significant role, with seafood being a staple in Namibian cuisine. Additionally, regulations on fishing and processing practices have a major impact on market dynamics. These factors contribute to the unique market landscape in Namibia, setting it apart from other markets and shaping consumer preferences for processed fish and seafood products.

Underlying macroeconomic factors: The Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market in Namibia is influenced by macroeconomic factors such as consumer spending patterns, trade policies, and government support for the fishing industry. The country's stable economic growth and favorable fiscal policies have boosted consumer purchasing power, leading to increased demand for processed fish and seafood products. Moreover, the government's efforts to promote sustainable fishing practices and support local fishing communities have further contributed to the market's growth. Additionally, the rising global demand for seafood, particularly in emerging economies, has created export opportunities for Namibian fish and seafood producers, driving 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.