Fish & Seafood - Seychelles

Seychelles

Highlights

Revenue in the Fish & Seafood market amounts to US$21.38m in 2024. The market is expected to grow annually by 5.31% (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$197.50 are generated in 2024.
In the Fish & Seafood market, volume is expected to amount to 2.24m kg by 2029. The Fish & Seafood market is expected to show a volume growth of 4.1% in 2025.0.
The average volume per person in the Fish & Seafood market is expected to amount to 17.2kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fish & Seafood market in Seychelles has been experiencing minimal growth due to factors such as limited resources, strict regulations on fishing, and a small domestic market. However, the demand for high-quality and sustainable seafood from tourists and the growing awareness of the health benefits of seafood consumption may drive future growth in the market.

Customer preferences: As consumers become more health-conscious, there is a growing demand for sustainable and ethically-sourced seafood products in Seychelles. This trend is driven by the country's strong cultural ties to the ocean and its traditional reliance on seafood for sustenance. Additionally, with the rise of social media and the influence of celebrity chefs, there is a growing interest in exotic and unique seafood dishes, leading to a diversification of offerings in the Fish & Seafood Market within The Food market market.

Trends in the market: In Seychelles, the Fish & Seafood Market is seeing a rise in demand for sustainable and locally-sourced products, driven by consumer awareness and preferences for environmentally-friendly options. This trend is expected to continue as more consumers prioritize sustainable and ethical sourcing practices. Industry stakeholders should consider investing in sustainable fishing methods and promoting their eco-friendly products to capitalize on this growing trend. Additionally, the rise of e-commerce and online platforms is providing new opportunities for businesses to reach a wider customer base and tap into the growing demand for sustainable fish and seafood products.

Local special circumstances: In Seychelles, the Fish & Seafood market is heavily influenced by the country's geographical location and cultural beliefs. Being an island nation, seafood is a major part of the local cuisine and is also a source of income for many fishermen. Due to the small population and strict regulations on fishing, the market is focused on sustainable practices. Additionally, the cultural belief of consuming fresh and locally sourced food has led to a high demand for locally caught seafood, creating a niche market with unique dynamics.

Underlying macroeconomic factors: The Fish & Seafood Market in Seychelles is greatly impacted by macroeconomic factors such as the country's economic health, global economic trends, and fiscal policies. The growth of the market is heavily influenced by the country's stability and growth in its overall economy, as well as its ability to attract foreign investment and maintain favorable trade agreements. Additionally, global trends such as an increase in demand for sustainable and ethically sourced seafood and the rise of e-commerce are also shaping the market in Seychelles. The government's fiscal policies, such as tax incentives for the fishing industry and support for aquaculture, also play a significant role in driving the growth of the Fish & Seafood Market in the country.

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.