South Africa: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in South Africa

After two years of growth, the South African frozen fish and seafood market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then contracted modestly in the following year.

Production of Frozen Fish and Seafood in South Africa

In value terms, frozen fish and seafood production shrank to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Exports of Frozen Fish and Seafood

Exports from South Africa

In 2023, the amount of frozen fish and seafood exported from South Africa contracted notably to X tons, shrinking by X% on 2022. Overall, exports saw a pronounced contraction. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, frozen fish and seafood exports contracted to $X in 2023. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2023, 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, Namibia, Australia, the Netherlands, the UK, France, Poland, Mauritius, Zambia and South Korea lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Poland (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 comprising X% of total exports. Mozambique, Australia, the Netherlands, the UK, France, Poland, Namibia, Mauritius, South Korea and Zambia lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Poland, with a CAGR of X%, recorded the highest growth rate of 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 and seafood export price stood at $X per ton in 2023, growing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2022 an increase of X%. Over the period under review, the average export prices attained the maximum in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Zambia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mauritius (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 2023, after two years of growth, there was significant decline in purchases abroad of frozen fish and seafood, when their volume decreased by X% to X tons. In general, imports, however, posted prominent growth. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, frozen fish and seafood imports fell sharply to $X in 2023. Overall, total imports indicated a perceptible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at $X in 2022, and then shrank rapidly in the following year.

Imports by Country

Morocco (X tons), Namibia (X tons) and China (X tons) were the main suppliers of frozen fish and seafood imports to South Africa, together accounting for X% of total imports. New Zealand, Russia, Argentina, Canada, India, Oman, Spain, the Netherlands, the United States and Mauritania lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Oman (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish and seafood suppliers to South Africa were Namibia ($X), Morocco ($X) and New Zealand ($X), together comprising X% of total imports. China, Argentina, India, Russia, Canada, Spain, the United States, Oman, the Netherlands and Mauritania lagged somewhat behind, together comprising a further X%.

Oman, with a CAGR of X%, saw the highest growth rate of 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 2023, the average frozen fish and seafood import price amounted to $X per ton, rising by X% against the previous year. Overall, the import price, however, recorded a noticeable downturn. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mauritania (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform