Report Overview

A surging consumer demand for seafood products, thriving tourism and hospitality sector, and the government’s increasing support for the food sector are expected to drive South Africa Seafood Market during the forecast period between 2025 and 2031.

South Africa Seafood Market – Industry Trends & Forecast Report, 2031

South Africa Seafood Market size was estimated at USD 3.13 billion in 2024. During the forecast period between 2025 and 2031, South Africa Seafood Market size is projected to grow at a CAGR of 7.8% reaching a value of USD 5.29 billion by 2031. Prominent drivers of the market include increasing consumer preference for seafood as a primary protein source, diversification of seafood offerings across income groups, and rising exports of premium-quality fish products. A global shift in dietary habits, with seafood consumption steadily rising, has significantly contributed to this growth. While global beef consumption per capita has declined, seafood intake has more than doubled since the 1960s and is expected to increase by nearly 80% by 2050. In South Africa, the COVID-19 pandemic led to a renewed interest in cooking, spurring demand for both high-end seafood such as salmon, sole, and scallops among affluent consumers, and more affordable varieties like horse mackerel and snoek among lower-income groups. Key players like Atlantis Seafood Products (ASP) have expanded operations and adopted labor-intensive processing methods to enhance product quality, create jobs, and support the local economy. Despite disruptions during the pandemic, ASP has emerged as a leading exporter of premium hake, which is in high demand globally due to its superior quality. The country's hake trawl sector, certified by the Marine Stewardship Council, generates over ZAR4.5 billion annually, underscoring the importance of sustainability in maintaining international standards. While environmental concerns and the over-exploitation of marine resources persist, South Africa’s seafood industry continues to strike a balance between economic development, employment generation, and ocean conservation. From the pioneering research voyages of the Pieter Faure in the 1890s to today’s modern trawling fleet, South Africa’s fishing sector has evolved into a vital contributor to national food security and global seafood trade.

Seafood – Overview

Seafood refers to edible aquatic animals and plants harvested from oceans, rivers, and lakes. It includes a wide variety of species such as fish (salmon, tuna, cod), shellfish (shrimp, crab, lobster), and mollusks (clams, mussels, squid). Seaweed and other marine plants are also considered seafood in some cultures. Rich in essential nutrients like omega-3 fatty acids, protein, vitamins, and minerals, seafood is a staple in many global cuisines. It is consumed fresh, frozen, smoked, or canned. Sustainable fishing and aquaculture practices are essential to preserving marine ecosystems while meeting global seafood demand for health, culinary, and economic benefits.

South Africa Seafood Market

Growth Drivers

Growing Consumer Demand

South Africa Seafood Market is witnessing robust growth, largely driven by rising consumer demand. Post-pandemic shifts in dietary preferences have spurred increased seafood consumption, with both premium and affordable product lines gaining traction. Higher-income groups are gravitating toward upscale offerings such as salmon, kingklip, and ready-made gourmet seafood meals, while demand for cost-effective options like snoek and horse mackerel continues to rise among lower-income households. This broadening consumer base has encouraged processors like Atlantis Seafood Products to expand production capacity and invest in quality enhancements. As awareness around health, sustainability, and culinary diversity grows, consumer behavior is playing a pivotal role in shaping the future of the seafood industry in South Africa.

Challenges

High Operational Costs

The growth of South Africa’s seafood market is being challenged by rising operational costs across the value chain. Factors such as increased fuel prices, labor expenses, and the need for sustainable fishing practices contribute to mounting production costs. Companies have had to adopt more labor-intensive methods to maintain quality, further increasing overheads. Additionally, disruptions in global supply chains and fluctuating export demands have intensified financial pressure on processors and exporters. These high operational costs are limiting profit margins and slowing investment, thereby restraining the overall growth potential of the country’s seafood market.

Impact of Escalating Geopolitical Tensions on South Africa Seafood Market

Escalating geopolitical tensions could significantly impact the growth of South Africa Seafood Market. Trade disruptions, fluctuating currency exchange rates, and rising fuel costs resulting from global conflicts directly affect seafood production and export operations. Supply chain instability can delay shipments, increase logistics costs, and reduce access to international markets, especially for key exports like hake. Additionally, sanctions or shifting trade alliances may limit South Africa’s ability to import essential fishing equipment or access certain markets. These uncertainties create operational and financial challenges for stakeholders, ultimately slowing market growth and threatening the sector’s long-term stability and global competitiveness.

South Africa Seafood Market

Segmental Coverage

South Africa Seafood Market – By Type

Based on type, South Africa Seafood Market is divided into Fish, Crustaceans, Mollusks, and other seafood products segments. The fish segment holds the highest share in South Africa Seafood Market by type. Fish plays a central role in South Africa's seafood market, with hake being the most commercially significant species. It is a versatile favorite featured in a range of dishes, from fried hake to spiced hake curry. Snoek, native to the Western Cape, is a key part of South Africa’s braai culture, often enjoyed smoked or grilled. Other commonly consumed species include yellowtail, kingklip, and pilchards, frequently prepared in traditional meals such as fish stews, snoek and jam sandwiches, and grilled fish paired with maize-based pap or rice—highlighting the strong culinary heritage tied to local seafood.

South Africa Seafood Market – By Source

On the basis of source, South Africa Seafood Market is bifurcated into Wild-Caught and Aquaculture segments.

South Africa Seafood Market – By Distribution Channel

South Africa Seafood Market by distribution channel is segmented into Supermarkets & Hypermarkets, Specialty Stores, Convenience Stores, Online Retail, and Foodservice Outlets.

Competitive Landscape

Major players operating in South Africa Seafood Market include Oceana Group Limited, Sea Harvest Group Ltd, AVI Ltd (I&J), Premier Fishing and Brands Ltd, Rhodes Food Group, and Woodstock Canning Company. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Type

• Fish

• Crustaceans

• Mollusks

• Other Seafood Products

By Source

• Wild-Caught

• Aquaculture

By Distribution Channel

• Supermarkets & Hypermarkets

• Specialty Stores

• Convenience Stores

• Online Retail

• Foodservice Outlets