Market Insights Consumer Food Fish & Seafood

Processed Fish & Seafood - Western Africa

Western Africa

Revenue in the Processed Fish & Seafood market amounts to US$7.86bn in 2024. The market is expected to grow annually by 11.82% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (US$32,420m in 2024).
In relation to total population figures, per person revenues of US$18.73 are generated in 2024.
In the Processed Fish & Seafood market, volume is expected to amount to 0.68bn kg by 2029. The Processed Fish & Seafood market is expected to show a volume growth of 4.7% in 2025.
The average volume per person in the Processed Fish & Seafood market is expected to amount to 1.3kg in 2024.

Key regions: Japan, United States, Philippines, Russia, China

Market

Region

Region comparison

Currency

Analyst Opinion

The Processed Fish & Seafood Market in Western Africa is facing subdued growth due to factors such as limited availability of raw materials, high production costs, and low consumer awareness. However, the market is expected to experience growth driven by increasing demand for convenient and value-added fish and seafood products in the Canned, Dried & Smoked Fish and Fish Fingers & Portions sub-markets.

Customer preferences: As consumers in Western Africa become more health-conscious, there is a growing demand for processed fish and seafood products that are perceived as healthier options compared to red meat. This trend is driven by changing lifestyle factors, such as the increase in sedentary jobs and the rise of chronic diseases. In response, manufacturers are focusing on offering a wider variety of processed fish and seafood products that cater to different dietary needs and preferences, including gluten-free and low-sodium options. This shift towards healthier options is also reflected in the rise of online grocery shopping and home delivery services, as consumers prioritize convenience and safety in light of the COVID-19 pandemic.

Trends in the market: In Western Africa, the Processed Fish & Seafood Market is experiencing a surge in demand for healthier, convenient food options. This trend is driven by a growing middle class and increasing health consciousness. To cater to this demand, companies are introducing innovative and sustainable packaging solutions. Additionally, there is a rise in the use of digital platforms for ordering and delivery of processed fish & seafood products, providing greater convenience to consumers. These trends are expected to continue, bringing significant opportunities for industry stakeholders to tap into new markets and expand their customer base.

Local special circumstances: In Western Africa, the Processed Fish & Seafood Market is heavily influenced by the region's rich fishing tradition and coastal geography. The abundance of seafood resources and a large fishing industry have contributed to a diverse and competitive market. Additionally, cultural preferences and dietary habits have shaped the demand for different types of processed fish and seafood. Regulatory factors, such as government policies and trade agreements, also play a significant role in market dynamics. For instance, the African Continental Free Trade Area agreement has opened up new opportunities for the export of processed fish and seafood, driving market growth.

Underlying macroeconomic factors: The Processed Fish & Seafood market is greatly impacted by macroeconomic factors within Western Africa. Global economic trends, such as changes in consumer demand and trade policies, can significantly affect the market performance. Additionally, national economic health, including GDP, inflation rates, and currency exchange rates, can greatly influence the purchasing power and demand for processed fish & seafood products. Fiscal policies, such as taxes and tariffs on imports and exports, can also impact the market by affecting the cost of production and trade. Other relevant financial indicators, such as consumer spending and employment rates, can also play a role in the market's growth or decline. Overall, the market in Western Africa is heavily influenced by the economic landscape, and any shifts in these macroeconomic factors can have a significant impact on the Processed Fish & Seafood market's performance.

Methodology

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.