Processed Fish & Seafood - Togo | Statista Market Forecast

Revenue in the Processed Fish & Seafood market amounts to US$49.06m in 2024. The market is expected to grow annually by 7.47% (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$5.30 are generated in 2024.
In the Processed Fish & Seafood market, volume is expected to amount to 9.10m kg by 2029. The Processed Fish & Seafood market is expected to show a volume growth of 7.2% in 2025.0.
The average volume per person in the Processed Fish & Seafood market is expected to amount to 0.8kg 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 Togo is experiencing subdued growth, influenced by factors such as limited consumer awareness, lack of access to technology, and reliance on traditional methods of fishing and processing. However, the convenience and health benefits of processed fish and seafood products may drive future growth in this market.

Customer preferences: Consumers in Togo are increasingly turning towards processed fish and seafood options due to their convenience and longer shelf life. This trend is driven by the busy lifestyles of urban consumers, who are looking for quick and easy meal solutions. Additionally, the rising awareness about the health benefits of seafood, such as its high protein and omega-3 content, is also fueling the demand for processed fish and seafood products. This shift towards convenience and healthier food options is likely to continue, as more consumers prioritize convenience and health in their purchasing decisions.

Trends in the market: In Togo, the Processed Fish & Seafood market is experiencing a rise in demand for sustainable and ethically-sourced products, with consumers becoming more conscious of the environmental impact of their food choices. This trend is expected to continue, as industry stakeholders are investing in sustainable fishing practices and certifications. Additionally, there is a growing consumer preference for ready-to-eat and convenience seafood products, driving innovation and product development in the market. These trends signal a shift towards more sustainable and convenient options, with potential implications for industry players to adapt their strategies to meet evolving consumer demands.

Local special circumstances: In Togo, the Processed Fish & Seafood Market within The Food market is heavily influenced by the country's coastal location and rich fishing tradition. This has led to a strong demand for fresh and processed seafood products, both domestically and for export. Additionally, Togo's regulatory environment, which includes strict fishing and aquaculture laws, has played a crucial role in shaping the market. These unique local factors have contributed to the growth of the Processed Fish & Seafood Market in Togo, making it a key player in the global seafood industry.

Underlying macroeconomic factors: The Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors, such as global economic trends, national economic health, and fiscal policies. In Togo, the market is bolstered by favorable economic conditions, including a stable political climate and a growing middle class with increasing purchasing power. Additionally, government initiatives promoting the sustainable development of the fisheries sector and investments in infrastructure have contributed to the growth of the processed fish & seafood market in the country. Furthermore, Togo's strategic location for exporting to neighboring countries also plays a significant role in 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.