SADC: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in SADC

The SADC frozen fish fillet market dropped markedly to $X in 2022, declining by -72.4% against the previous year. In general, consumption faced a abrupt decrease. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Frozen Fish Fillet Production in SADC

In value terms, frozen fish fillet production fell to $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +12.3% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of 33%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Frozen Fish Fillet Exports

Exports in SADC

In 2022, overseas shipments of frozen fish fillet increased by 45% to X tons, rising for the second consecutive year after three years of decline. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.1% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish fillet exports skyrocketed to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +55.3% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Namibia represented the key exporter of frozen fish fillet in SADC, with the volume of exports amounting to X tons, which was approx. 74% of total exports in 2022. It was distantly followed by South Africa (X tons) and Tanzania (X tons), together creating a 25% share of total exports.

Namibia was also the fastest-growing in terms of the frozen fish fillet exports, with a CAGR of +9.3% from 2012 to 2022. At the same time, South Africa (+4.4%) displayed positive paces of growth. By contrast, Tanzania (-7.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Namibia increased by +21 percentage points.

In value terms, Namibia ($X) remains the largest frozen fish fillet supplier in SADC, comprising 72% of total exports. The second position in the ranking was taken by South Africa ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Namibia stood at +10.5%. The remaining exporting countries recorded the following average annual rates of exports growth: South Africa (+3.8% per year) and Tanzania (-7.2% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, with a decrease of -4.8% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 15%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while Namibia ($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 (+1.2%), while the other leaders experienced mixed trends in the export price figures.

Frozen Fish Fillet Imports

Imports in SADC

In 2022, the amount of frozen fish fillet imported in SADC declined to X tons, shrinking by -6.7% compared with 2021 figures. Overall, imports, however, showed strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 28%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, frozen fish fillet imports amounted to $X in 2022. Over the period under review, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 38%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Africa prevails in imports structure, amounting to X tons, which was approx. 73% of total imports in 2022. Mauritius (X tons) took an 8.3% share (based on physical terms) of total imports, which put it in second place, followed by Democratic Republic of the Congo (6.6%). The following importers - Angola (X tons), Zimbabwe (X tons) and Swaziland (X tons) - together made up 7.4% of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen fish fillet imports into South Africa stood at +12.1%. At the same time, Democratic Republic of the Congo (+36.1%) and Mauritius (+8.9%) displayed positive paces of growth. Moreover, Democratic Republic of the Congo emerged as the fastest-growing importer imported in SADC, with a CAGR of +36.1% from 2012-2022. By contrast, Zimbabwe (-3.8%), Swaziland (-7.8%) and Angola (-12.5%) illustrated a downward trend over the same period. While the share of South Africa (+29 p.p.), Democratic Republic of the Congo (+6 p.p.) and Mauritius (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Zimbabwe (-2.9 p.p.), Swaziland (-4.8 p.p.) and Angola (-25.4 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) constitutes the largest market for imported frozen fish fillet in SADC, comprising 70% of total imports. The second position in the ranking was taken by Mauritius ($X), with an 11% share of total imports. It was followed by Angola, with a 4.9% share.

In South Africa, frozen fish fillet imports expanded at an average annual rate of +12.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mauritius (+9.2% per year) and Angola (-11.6% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2022, increasing by 7.8% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 12% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Zimbabwe ($X per ton), while Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Swaziland (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform