South Africa Fish and Seafood Market (2020-2026) | Size, Share, Trends, Growth, Forecast, Revenue, Analysis, industry, Outlook & COVID-19 IMPACT

Latest 2023 Development of South Africa Fish and Seafood Market

South Africa Fish and Seafood Market is a growing industry along with several latest development. For instance, the development of aquaculture owing to the implemented measures by the government to promote aquaculture as a means of increasing the production of fish and seafood in the country. The fishing industry of South Africa has experienced a significant expansion of fishing fleets in recent years. This has resulted in an increased number of fish and seafood products available in the market. 

The establishment of cold storage facilities has led to improved storage and preservation of fish and seafood products in South Africa which has enabled the country to export fresh and premium quality seafood to international markets. The government has invested in research and development initiatives to improve the quality and safety of fish and seafood products. This has resulted in the development of new processing techniques and improved product safety. The promotion of sustainable fishing practices such as reducing the number of fishing boats and enforcing fishing quotas. Overall, the static development of the South Africa fish and seafood industry is a positive trend and it is expected to grow in the coming years by increasing demand and efforts to improve fishing practices. 

South Africa Fish and Sea food market Synopsis

South Africa Fish and Sea food market report is a part of the Africa Fish and Sea food market report that thoroughly covers the market by product type, retail market, sales channels, and regions. The South Africa Fish and Seafood market outlook report provides an unbiased and detailed analysis of the ongoing South Africa 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.

South Africa Fish and Seafood Market is expected to register rapid growth over the coming years owing to sustainable fishing which is a crucial economic and environmental topic. Moreover, a growing number of consumers, especially the most affluent, eat fish and seafood regularly. In line with the developing health and wellness trend, these individuals are prioritizing seafood as a healthier source of proteins than red meat and even white meat creates ample opportunities for the seafood market in the country.

According to 6Wresearch, South Africa Fish and Seafood Market size is anticipated to register growth during 2020-2026F. The rising risk of chronic disease coupled with growing awareness regarding health is driving the demand for fish and seafood. Significant increases in mineral, health-quality protein, and fatty acids are driving the South Africa Fish and Seafood market share. However, the change in climatic conditions is expected to affect fish production. The rising shift toward ready-to-eat food due to a busy lifestyle is also hampering the growth of the industry. Increasing expenditure on food products that are rich in nutrients is adding to the South Africa Fish and Seafood Market Share. The depletion of fish stock is hampering the development of the market.

Market Analysis by Sales Channel

By Sales Channel, the retail segment is dominating the market with the highest share due to the increasing preference of people for shopping for food products from stores rather than online portals. In addition, rising fresh seafood available in the supermarket and hypermarkets is expected to supplement the growth of the retail segment in the near future.

COVID-19 Impact on South Africa Seafood Market

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. Moreover, middle-to-upper Income groups, prefer frozen processed fish and seafood rather than fresh products. The main reasons for this are the perceived superior taste and convenience of preparation that frozen processed fish and seafood represent. 

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2017 to 2020.
• Base Year: 2020
• Forecast Data until 2027.
• Key Performance Indicators Impacting the Market.

 

Key Highlights of the Report:

• South Africa Fish and Seafood Market Overview
• South Africa Fish and Sea food Market Outlook
• South Africa Fish and Sea food Market Forecast
• Historical Data of South Africa Fish and Sea food Market Revenues for the Period 2016-2019
• South Africa Fish and Sea food Market Size and South Africa Fish and Sea food Market Forecast of Revenues, Until 2026
• Historical Data of South Africa Fish and Seafood Market Revenues, By Product Type, for the Period 2016-2019
• Market Size & Forecast of South Africa Fish and Seafood Market Revenues, By Product Type, Until 2026
• Historical Data of South Africa Fish and Seafood Market Revenues, By Retail Market, for the Period 2016-2019
• Market Size & Forecast of South Africa Fish and Seafood Market Revenues, By Retail Market, Until 2026
• Historical Data of South Africa Fish and Seafood Market Revenues, By Sales Channels, for the Period 2016-2019
• Market Size & Forecast of South Africa Fish and Seafood Market Revenues, By Sales Channels, Until 2026
• Historical Data of South Africa Fish and Seafood Market Revenues, By Regions, for the Period 2016-2019
• Market Size & Forecast of South Africa Fish and Seafood Market Revenues, By Region, Until 2026
• Market Drivers and Restraints
• South Africa Fish and Seafood Market Trends
• South Africa Fish and Seafood Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• South Africa Fish and Seafood Market Share, By Players
• South Africa Fish and Seafood Market Share, By Regions
• South Africa Fish and Seafood Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The South Africa Fish and Seafood Market report provides a detailed analysis of the following market segments:

By Product Types:

• Fish
• Crustaceans
• Mollusks
• Others

By Retail Market:

• Ambient
• Frozen
• Chilled

By Sales Channel:

• Retail
• Foodservice
• Institutional