Africa: Frozen Fish Market 2024

Frozen Fish Market Size in Africa

In 2022, the African frozen fish market decreased by X% to $X, falling for the second consecutive year after four years of growth. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Frozen Fish Production in Africa

In value terms, frozen fish production contracted modestly to $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Frozen Fish Exports

Exports in Africa

In 2022, overseas shipments of frozen fish were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Total exports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2018 indices. The growth pace was the most rapid in 2014 when exports increased by X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, frozen fish exports stood at $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Mauritania (X tons), Morocco (X tons), Senegal (X tons), Namibia (X tons) and Seychelles (X tons) represented the main exporter of frozen fish in Africa, constituting X% of total export. It was distantly followed by South Africa (X tons), creating a X% share of total exports. Guinea-Bissau (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Seychelles (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Namibia ($X), Morocco ($X) and Mauritania ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Seychelles, Senegal, South Africa and Guinea-Bissau lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Guinea-Bissau, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Namibia ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Namibia (X%), while the other leaders experienced more modest paces of growth.

Frozen Fish Imports

Imports in Africa

In 2022, supplies from abroad of frozen fish was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2018 indices. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, frozen fish imports expanded slightly to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Cote d'Ivoire (X tons), distantly followed by Nigeria (X tons), Ghana (X tons), Egypt (X tons), Cameroon (X tons), South Africa (X tons), Democratic Republic of the Congo (X tons) and Burkina Faso (X tons) were the largest importers of frozen fish, together making up X% of total imports. Mauritius (X tons), Benin (X tons), Zambia (X tons), Mali (X tons) and Seychelles (X tons) took a minor share of total imports.

Imports into Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2022. At the same time, Zambia (X%), Benin (X%), Mali (X%), Burkina Faso (X%), South Africa (X%), Democratic Republic of the Congo (X%), Ghana (X%) and Seychelles (X%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. Egypt and Cameroon experienced a relatively flat trend pattern. By contrast, Mauritius (X%) and Nigeria (X%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (X p.p.), Burkina Faso (X p.p.), South Africa (X p.p.), Benin (X p.p.), Zambia (X p.p.), Democratic Republic of the Congo (X p.p.) and Mali (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cameroon (X p.p.), Egypt (X p.p.), Mauritius (X p.p.) and Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Egypt ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. South Africa, Ghana, Mauritius, Cameroon, Zambia, Seychelles, Benin, Democratic Republic of the Congo, Mali and Burkina Faso lagged somewhat behind, together comprising a further X%.

Mali, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the import price continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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