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Fish & Seafood - Rwanda

Rwanda
  • Revenue in the Fish & Seafood market amounts to US$258.90m in 2024. The market is expected to grow annually by 9.08% (CAGR 2024-2029).
  • In global comparison, most revenue is generated China (US$97bn in 2024).
  • In relation to total population figures, per person revenues of US$17.96 are generated in 2024.
  • In the Fish & Seafood market, volume is expected to amount to 24.21m kg by 2029. The Fish & Seafood market is expected to show a volume growth of 6.4% in 2025.0.
  • The average volume per person in the Fish & Seafood market is expected to amount to 1.4kg in 2024.

Definition:

The Fish & Seafood market covers products made from edible fish and crustaceans, mollusks, and other seafood. These products have been farmed or harvested from freshwater or the ocean and are bought and consumed for nutrient-based purposes.

Structure:

The market consists of 3 different submarkets:

  • The Fresh Fish market covers all types of edible fish that are fresh, chilled, or frozen, and have been farmed or harvested from freshwater or the ocean.
  • The Fresh Seafood market covers all types of crustaceans and mollusks that are fresh, chilled, or frozen and have been farmed or harvested.
  • The Processed Fish & Seafood market covers all types of fish and seafood that have been dried, salted, brined, canned, or smoked.

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.

For more information on the displayed data, click the info button on the right side of each box.

In-Scope

  • Fresh and frozen fish((whole or part of, such as cuts, fillets)
  • Fresh and frozen seafood
  • Processed fish and seafood

Out-Of-Scope

  • Fish-based ready-to-eat meals
  • Seaweed and other aquatic plants
  • Caviar and prepared and preserved shark fins
  • Out-of-home consumption
Fish & Seafood: market data & analysis - Cover

Market Insights report

Fish & Seafood: market data & analysis

Study Details

    Revenue

    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

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Fish & Seafood Market in Rwanda has been seeing slow growth due to factors such as limited consumer awareness, lack of access to digital technologies, and a preference for traditional, in-person purchasing. However, with increasing health consciousness and the convenience of online services, we can expect to see a gradual rise in this market.

    Customer preferences:
    The Fish & Seafood Market within The Food market has seen a rise in demand for sustainably-sourced and ethically-produced products, with consumers placing greater importance on environmental and social responsibility. This trend is driven by the growing awareness of the negative impacts of overfishing and unsustainable fishing practices. Additionally, the rise of health-conscious and environmentally-aware millennials is also influencing consumer preferences, with a preference for products that are healthy and environmentally-friendly. As a result, companies are increasingly investing in sustainable and ethical sourcing practices to cater to this shift in consumer preferences.

    Trends in the market:
    In Rwanda, the Fish & Seafood Market within The Food market is experiencing a trend towards sustainable and ethical sourcing. This is driven by consumer demand for transparency and responsible practices, as well as government initiatives to promote sustainable fishing and aquaculture. As a result, key players in the industry are investing in eco-friendly production methods and certifications, such as Fair Trade and Marine Stewardship Council. This trend is likely to continue, with potential implications for stakeholders including increased costs and the need to adapt to changing consumer preferences.

    Local special circumstances:
    In Rwanda, the Fish & Seafood Market within The Food market is heavily influenced by the country's geographical location and landlocked status. This has led to a focus on freshwater fish production and a reliance on imports for seafood. Additionally, cultural preferences for certain types of fish and seafood, such as tilapia and Nile perch, have shaped the market. Government regulations, such as strict quality control measures and quotas for fishing, also play a significant role in market dynamics. These factors create a unique market landscape for fish and seafood in Rwanda, setting it apart from other markets in the region.

    Underlying macroeconomic factors:
    The Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors such as global trade policies, consumer demand, and supply chain disruptions. The market is also impacted by national economic health, including GDP growth, inflation rates, and foreign investment. Fiscal policies, such as taxes and subsidies, can also significantly affect market performance. In addition, other financial indicators like exchange rates and commodity prices can impact the supply and demand of fish and seafood products. Overall, the market is highly sensitive to fluctuations in the economy and requires careful monitoring of these macroeconomic factors to make informed business decisions.

    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.

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    Fish & Seafood: market data & analysis - BackgroundFish & Seafood: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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