South Africa: Frozen Fish Meat Market 2024

Frozen Fish Meat Market Size in South Africa

In 2021, the South African frozen fish meat market increased by 52% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, recorded a abrupt decline. Frozen fish meat consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Frozen Fish Meat Production in South Africa

In value terms, frozen fish meat production fell to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt decline. The growth pace was the most rapid in 2015 when the production volume increased by 78%. Frozen fish meat production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Frozen Fish Meat Exports

Exports from South Africa

In 2021, after two years of growth, there was significant decline in overseas shipments of frozen fish meat, when their volume decreased by -6.3% to X tons. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 114%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, frozen fish meat exports contracted to $X in 2021. Overall, exports showed a deep setback. The pace of growth appeared the most rapid in 2020 when exports increased by 53% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Spain (X tons), Portugal (X tons) and Swaziland (X tons) were the main destinations of frozen fish meat exports from South Africa, with a combined 74% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Swaziland (with a CAGR of +39.0%), while the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X), Spain ($X) and Australia ($X) constituted the largest markets for frozen fish meat exported from South Africa worldwide, together accounting for 72% of total exports. Swaziland, Botswana, Germany, Democratic Republic of the Congo and Namibia lagged somewhat behind, together comprising a further 23%.

In terms of the main countries of destination, Swaziland, with a CAGR of +31.2%, recorded 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 average frozen fish meat export price stood at $X per ton in 2021, which is down by -3.4% against the previous year. In general, the export price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the average export price increased by 40% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+28.9%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Meat Imports

Imports into South Africa

In 2021, supplies from abroad of frozen fish meat increased by 25% to X tons, rising for the third year in a row after two years of decline. In general, imports, however, saw a deep slump. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, frozen fish meat imports soared to $X in 2021. Overall, imports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 48%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Namibia (X tons) constituted the largest frozen fish meat supplier to South Africa, with a 61% share of total imports. Moreover, frozen fish meat imports from Namibia exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fourfold. China (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Namibia stood at -12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+168.2% per year) and China (-4.7% per year).

In value terms, Namibia ($X) constituted the largest supplier of frozen fish meat to South Africa, comprising 77% of total imports. The second position in the ranking was held by Norway ($X), with a 7.2% share of total imports. It was followed by China, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value from Namibia amounted to -14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-10.2% per year) and China (-13.7% per year).

Import Prices by Country

In 2021, the average frozen fish meat import price amounted to $X per ton, dropping by -2.3% against the previous year. Over the period under review, the import price saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 an increase of 20%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+20.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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