South Africa: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in South Africa

The South African frozen fish and seafood market skyrocketed to $X in 2022, surging by X% against the previous year. The market 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 throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Frozen Fish And Seafood in South Africa

In value terms, frozen fish and seafood production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Frozen fish and seafood production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Frozen Fish And Seafood

Exports from South Africa

Frozen fish and seafood exports from South Africa shrank significantly to X tons in 2022, dropping by X% against the previous year. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then reduced rapidly in the following year.

In value terms, frozen fish and seafood exports declined to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Spain (X tons), Mozambique (X tons) and Italy (X tons) were the main destinations of frozen fish and seafood exports from South Africa, with a combined X% share of total exports. Portugal, Zambia, Namibia, Australia, the UK, Democratic Republic of the Congo, the Netherlands, the United States and France lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for frozen fish and seafood exported from South Africa were Spain ($X), Italy ($X) and Portugal ($X), together accounting for X% of total exports. The United States, Mozambique, Australia, the UK, the Netherlands, France, Zambia, Namibia and Democratic Republic of the Congo lagged somewhat behind, together accounting for a further X%.

Zambia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average frozen fish and seafood export price amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish And Seafood

Imports into South Africa

In 2022, overseas purchases of frozen fish and seafood increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, frozen fish and seafood imports rose markedly to $X in 2022. Over the period under review, total imports indicated a strong increase 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Morocco (X tons) constituted the largest frozen fish and seafood supplier to South Africa, accounting for a X% share of total imports. Moreover, frozen fish and seafood imports from Morocco exceeded the figures recorded by the second-largest supplier, Namibia (X tons), twofold. The third position in this ranking was held by Russia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Morocco stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Namibia (X% per year) and Russia (X% per year).

In value terms, the largest frozen fish and seafood suppliers to South Africa were Morocco ($X), Namibia ($X) and Russia ($X), with a combined X% share of total imports.

Morocco, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average frozen fish and seafood import price amounted to $X per ton, shrinking by X% against the previous year. In general, the import price saw a noticeable decline. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Morocco ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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