The freshwater fish market in Africa, expressed in volume, has demonstrated moderate growth over the past decade, reaching 4.65 million metric tons in 2023. The market showed fluctuations from 2014, starting at 4.12 million metric tons and reaching various peaks and troughs. Notably, from 2021 to 2023, annual growth averaged 0.64%, a slight acceleration compared to earlier years. The last five years exhibited an average annual growth rate (CAGR) of 0.65%. A significant dip occurred in 2020 due to a 4.34% decrease, likely influenced by global pandemic disruptions.
Looking ahead, the forecast suggests a consistent upward trend, with the market volume projected to reach 4.79 million metric tons by 2028. This is indicative of a CAGR of 0.53% over the next five years, translating to an overall growth rate of 2.66% from 2023 to 2028.
Trends to watch for include:
- Evolving consumer preferences toward sustainable and locally sourced fish
- Technological advancements in aquaculture boosting production efficiency
- Government policies favoring fish farming
- Impact of climate change on fish habitats and availability
