Tridge summary
Amid chronic supply and demand imbalances, Nigeria's frozen fish market is growing into a key industry supporting food security. The import demand, centered around mackerel, shows a steady flow despite price fluctuations and policy risks, and the expansion of the cold chain and the restructuring of distribution networks are rapidly changing the market structure. In this environment, market opportunities for Korean companies are also expanding. Structure of the frozen fish market and import trends According to the Food and Agriculture Organization of the United Nations (FAO) and WorldFish, an international non-profit research organization, Nigeria consumes about 3.6 million tons of fish annually, but domestic production is only about 1.2 million tons, leaving a gap of approximately 2.4 million tons.
Original content
Amid chronic supply and demand imbalances, Nigeria's frozen fish market is growing as a key industry supporting food security. Import demand, centered around mackerel, shows a steady flow despite price fluctuations and policy risks, with the expansion of the cold chain and the restructuring of distribution networks rapidly changing the market structure. In this environment, market opportunities for Korean companies are also expanding. Frozen fish market structure and import trends According to the Food and Agriculture Organization of the United Nations (FAO) and the international non-profit research organization WorldFish, Nigeria consumes about 3.6 million tons of fish annually, but domestic production is only about 1.2 million tons, resulting in a shortage of more than 2.4 million tons. This structural supply and demand imbalance has made Nigeria the largest importer of frozen fish in Africa. Nigeria's frozen fish import value decreased from $675.17 million in 2022 to $530.28 ...
Source: Fisheco
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