Market Forecast By Product Types (Fish, Crustaceans, Mollusks, Others), By Retail Market (Ambient, Frozen, Chilled), By Sales Channel (Retail, Foodservice, Institutional) and competitive landscape
|Product Code: ETC002767||Publication Date: Mar 2023||Product Type: Report|
|Publisher: 6Wresearch||No. of Pages: 70||No. of Figures: 35||No. of Tables: 5|
Nigeria Fish and Seafood Market is one of the largest markets, driven by several growth factors. Nigeria is a country with a significant coastline and the country's fish and seafood industry is an essential sector. The growing demand for fish and seafood products in Nigeria owing to population growth and changing consumer preferences has further created opportunities for local fish farmers and seafood traders. However, the fish and seafood market growth is hindered by overfishing, illegal fishing, and inadequate infrastructure. These challenges have led to a decline in fish stocks and increased prices of fish and seafood products in Nigeria.
Apart from this, Nigeria's growing middle class has led to an increase in demand for high-quality and nutritious food products. The government has implemented policies to support the growth of the Nigeria fish and seafood industry, such as increasing funding for research and development and providing subsidies and tax incentives to farmers and producers. Moreover, the huge investments in aquaculture have helped to boost production and meet the growing demand for fish and seafood.
Nigeria Fish and Seafood Market is expected to register rapid growth over the coming years. With an increase in average income so does seafood consumption. Also, thanks to changes in world trade, seafood such as lobster and crab, which are considered premium food in Nigeria, is now widely available on the market and more affordable. Moreover, fish is considered a better source of protein than meat such as pork or beef in the country and is therefore increasingly opted for by health-conscious consumers.
According to 6Wresearch, Nigeria Fish and Seafood Market size is anticipated to register growth during 2020-2026F. The market is expected to register a decline in growth during 2020, owing to the global pandemic caused due to COVID-19. However, the market is projected to record positive growth during 2021-2026 going forward as reasonable prices and widespread availability of fish through various distribution channels increase the demand for seafood in Nigeria.
In Retail Market, the chilled segment is dominating the market with the highest share in 2019. Increased demand for quality food, growing health consciousness among people, and changing demographics are the main factors fuelling the growth of this segment.
The Nigeria Fish and Seafood market report thoroughly covers the market by product type, retail market, sales channels, and regions. The Nigeria Fish and Seafood market outlook report provides an unbiased and detailed analysis of the ongoing Nigeria Fish and Seafood market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Nigeria Fish and Seafood Market report provides a detailed analysis of the following market segments:
1. What are the factors responsible for the growing demand for fish and seafood in Nigeria?
The demand for fish and seafood in Nigeria is high due to its increasing popularity among the growing middle-class population.
2. What are the major factors hindering the growth of Nigeria fish and seafood market?
Inadequate infrastructure, poor transportation networks, and insufficient investment in technology and innovation are the factors hindering market growth.
3. How does the government is supporting the development of the fish and seafood market in Nigeria?
The government has implemented several initiatives to support the development of the fish and seafood market. For instance, the establishment of aquaculture and fisheries training centres and the promotion of exports of fish and seafood products.
4. What are the major trends in the Nigeria Fish and Seafood Market?
Growing demand for fish and seafood in Nigeria due to the increasing population, rising income levels, and a growing preference for healthy diets. Additionally, Nigeria has been working towards increasing its domestic production of fish and seafood products.
|1. Executive Summary|
|2.1 Report Description|
|2.2 Key Highlights|
|2.3 Market Scope & Segmentation|
|2.4 Research Methodology|
|3. Nigeria Seafood Market Overview|
|3.1 Nigeria Seafood Market Revenues, 2016-2026F|
|3.2 Nigeria Seafood Market Revenue Share, By Product Types, 2019 & 2026F|
|3.3 Nigeria Seafood Market Revenue Share, By Retail Market, 2019 & 2026F|
|3.4 Nigeria Seafood Market Revenue Share, By Sales Channel, 2019 & 2026F|
|3.5 Nigeria Seafood Market Revenue Share, By Regions, 2019 & 2026F|
|3.6 Nigeria Seafood Market - Industry Life Cycle|
|3.7 Nigeria Seafood Market - Porter’s Five Forces|
|4. Nigeria Seafood Market Dynamics|
|4.1 Impact Analysis|
|4.2 Market Drivers|
|4.3 Market Restraints|
|5. Nigeria Seafood Market Trends|
|6. Nigeria Seafoods Market - Distribution Channel Analysis|
|7. Nigeria Seafoods Market - Price Trend Analysis|
|8. Nigeria Seafood Market Overview, by Product Types|
|8.1 Nigeria Crustaceans Seafoods Market Revenues, 2016-2026F|
|8.2 Nigeria Mollusks Seafoods Market Revenues, 2016-2026F|
|8.3 Nigeria Fish Seafoods Market Revenues, 2016-2026F|
|8.4 Nigeria Others Seafoods Market Revenues, 2016-2026F|
|9. Nigeria Seafood Market Overview, by Retail Market|
|9.1 Nigeria Seafood Market Revenues, By Ambient, 2016-2026F|
|9.2 Nigeria Seafood Market Revenues, By Chilled, 2016-2026F|
|9.3 Nigeria Seafood Market Revenues, By Frozen, 2016-2026F|
|10. Nigeria Seafood Market Overview, by Sales Channel|
|10.1 Nigeria Seafood Market Revenues, By Retail, 2016-2026F|
|10.2 Nigeria Seafood Market Revenues, By Institution, 2016-2026F|
|10.3 Nigeria Seafood Market Revenues, By Foodservice, 2016-2026F|
|11. Nigeria Seafoods Market Overview, By Regions|
|12. Nigeria Seafoods Market - Government Initiatives / Regulations|
|13. Nigeria Seafoods Market - Key Performance Indicators|
|14. Nigeria Seafoods Market Opportunity Assessment|
|14.1 Nigeria Seafoods Market Opportunity Assessment, By Product Types (2026F)|
|14.2 Nigeria Seafoods Market Opportunity Assessment, By Retail Market (2026F)|
|14.3 Nigeria Seafood Market Opportunity Assessment, By Sales Channel (2026F)|
|15. Nigeria Seafoods Market Competitive Landscape|
|15.1 Nigeria Seafoods Market, By Players’ Revenue Share (2019)|
|15.2 Nigeria Seafoods Market, By Players’ Competitive Benchmarking, By Operating Parameters|
|16. Company Profiles|
|17. Key Strategic Pointers|