The global seafood industry navigates dynamic waters, shaped by evolving consumer preferences and geopolitical shifts. As we set sail into 2024, Duntower Corporation remains dedicated to providing insightful projections and ensuring smooth sailing for our partners through our comprehensive suite of services.

Steady Growth on the Horizon: Reports suggest continued expansion in seafood trade volume, with estimates ranging from 2-4% growth. This reflects rising demand, particularly in emerging markets where protein-rich seafood plays a vital role in diets. However, price fluctuations are expected, potentially impacted by:

• Supply Chain Disruptions: Ongoing pandemic and geopolitical challenges present hurdles to smooth logistical operations, potentially affecting supply and costs.
• Aquaculture Expansion: While contributing to increased supply, responsible farming practices are crucial for long-term success.
• Consumer Trends: Evolving preferences for convenience and specific species influence market dynamics.

Shrimp: Global Favorite:

• Demand Surge: Shrimp remains a global superstar, with demand projected to keep growing in 2024. Innovation in farming techniques promises better supply and efficiency.
• Convenience Reigns: Easy-to-prepare frozen and value-added shrimp products continue to gain popularity, driven by busy lifestyles and health awareness.
• Culinary Versatility: Shrimp lends itself to diverse culinary applications, from appetizers to main courses, satisfying various preferences.

Croaker: Regional Star:

• High Demand: Croaker, particularly white and yellow croaker, enjoys high popularity in Asia and parts of Latin America. Its mild flavor and affordability make it a popular choice.
• Wild vs. Farmed: While wild-caught croaker faces challenges, responsible aquaculture practices offer promise for future supply.
• Versatility on the Plate: Croaker’s mild flavor and firm texture allow for diverse cooking methods, appealing to various culinary styles.

Mackerel: Savory Catch:

• Health Powerhouse: Mackerel boasts rich omega-3 fatty acids, attracting health-conscious consumers. Its affordability and global appeal make it a valuable protein source.
• Global Appeal: Mackerel enjoys popularity in diverse regions, from Europe and Asia to South America.
• Preservation Prowess: Canned and smoked mackerel offer convenient options for quick and tasty protein sources.

Duntower Corporation: Your Trusted Partner:

Duntower Corporation offers a comprehensive range of services to empower our partners and navigate the dynamic seafood landscape in 2024:

• Trading Services: Our world-class team leverages extensive market knowledge to source the best seafood products at competitive prices, manage cargo load coordination, and track shipments every step of the way.
• Financial Solutions: We provide tailored financial support, expertise, and access to necessary resources to optimize cash flow, mitigate risks, and ensure smooth transactions.
• Quality Control & Guarantee: Our highly qualified team implements rigorous quality control measures throughout the supply chain, from source to destination, guaranteeing product integrity and exceeding industry standards.
• Logistics & Documentation: We navigate the complexities of international trade with expertise, ensuring efficient and compliant freight forwarding, customs clearance, and necessary documentation for every shipment.

By working together, we can chart a course towards a successful and prosperous future in the seafood industry. Stay tuned for further insights from Duntower Corporation as we explore specific regional trends and delve deeper into the dynamics shaping the seafood landscape in 2024.

Disclaimer: This article is for informational purposes only and does not constitute financial advice.

The Ivory Coast food market is growing rapidly, driven by population growth, urbanization, and rising incomes. The meat, poultry, and seafood sector is playing a major role in this growth.

Statistical data

According to a report by Mordor Intelligence, the meat market in Côte d’Ivoire is valued at $1.5 billion USD and is expected to reach $2.2 billion USD by 2027. The poultry market is valued at $500 million USD and is expected to reach $700 million USD by 2027. The seafood market is valued at $250 million USD and is expected to reach $350 million USD by 2027.

The report also notes that the meat sector is the largest segment of the Ivory Coast food market, followed by the poultry sector and the seafood sector.

Opportunities for meat sector companies

The meat sector in Côte d’Ivoire is growing at a rapid pace, driven by population growth and changing consumer eating habits. Consumers in Côte d’Ivoire are increasingly interested in consuming high-quality meat, which creates opportunities for companies that can meet this demand.

Statistical data

Per capita meat consumption in Côte d’Ivoire is expected to increase from 31 kg in 2022 to 35 kg in 2027.
Demand for chicken meat is growing faster than demand for beef and pork.
Consumption of processed meat, such as sausages, is increasing in Côte d’Ivoire.
Opportunities for poultry sector companies
The poultry sector in Côte d’Ivoire is also growing rapidly, driven by population growth and urbanization. Consumers in Côte d’Ivoire are increasingly interested in consuming chicken meat, which creates opportunities to meet this demand.

Statistical data

Chicken meat production in Côte d’Ivoire is expected to increase from 1.2 million tons in 2022 to 1.5 million tons by 2027. Demand for chicken meat in urban areas is growing faster than demand in rural areas. Demand for chicken meat for processing is increasing in Côte d’Ivoire. Opportunities for seafood sector companies

The seafood sector in Côte d’Ivoire is growing at a slower pace than the meat and poultry sectors, but still offers opportunities for companies that can capitalize on the growing demand for seafood.

Statistical data

Seafood production in Côte d’Ivoire is expected to increase from 200,000 tons in 2022 to 250,000 tons by 2027. Demand for seafood is growing in both urban and rural areas of Côte d’Ivoire. Demand for processed seafood, such as frozen shrimp, is increasing in Côte d’Ivoire.

Conclusion

In conclusion, the Ivory Coast food market is growing rapidly and presents significant opportunities for companies in the meat, poultry, and seafood sectors. Companies that can capitalize on these opportunities are well-positioned for success in this growing market.

Sources

Mordor Intelligence: “Ivory Coast Meat, Poultry, and Seafood Market – Global and Regional Analysis, Trends, Opportunities, and Forecast, 2022-2027”

Food and Agriculture Organization of the United Nations (FAO): “Meat, poultry, and seafood production in Côte d’Ivoire”

World Bank: “Meat, poultry, and seafood demand in Côte d’Ivoire”

Mark your calendars for Tuesday, October 3, and Wednesday, October 4, 2023, from 10:00 a.m. to 6:00 p.m., and Thursday, October 5, 2023, from 10:00 a.m. to 4:00 p.m.

Conxemar is a truly international event that brings together professionals from various sectors, including wholesalers, importers, exporters, processors, manufacturers, distributors, refrigeration experts, machinery providers, and auxiliary industries such as cold storage, packaging, plastics, and more. With over 700 exhibitors in 2022 and spanning across a massive 37,000 square meters of exhibition space, Conxemar is the place to be for anyone in the seafood industry.

This event offers a unique opportunity to network, gain insights, and discover the latest advancements in the seafood sector. Duntower Corporation will be present to showcase our products and services, and our team will be available to connect with industry experts, partners, and professionals.

To arrange a meeting with one of our representatives during Conxemar 2023, please don’t hesitate to reach out.

We look forward to your presence at this exceptional event, where innovation, collaboration, and networking converge in the world of frozen seafood. Join us at Conxemar!

Duntower Corporation is delighted to announce our participation in Anuga 2023, scheduled from 7th to 11th October 2023 at the Koelnmesse, Fair Grounds, Cologne.

Anuga offers a remarkable platform for networking and provides valuable insights into the latest industry developments. The event program includes a diverse range of conferences, workshops, experience areas, and speaker sessions, addressing key industry concerns and showcasing innovations.

This year’s Anuga promises to be an exceptional opportunity to explore new business prospects and gain solutions to the evolving global challenges faced by the food and beverage industry.

We invite you to meet us in person during Anuga 2023 and discover more about our products and services. Our team will be available to connect with industry leaders, government associations, and renowned global brands.

To schedule a meeting with one of our representatives at Anuga 2023, please click here.

We look forward to the opportunity to meet you at this exciting event and engage in discussions about the future of the food and beverage industry. Innovations, inspiration, and networking – it’s all happening at Anuga!

The Ghanaian food market

 is growing rapidly, driven by population growth, urbanization, and rising incomes. The meat, poultry, and seafood sector is playing a significant role in this growth.

According to a report by Mordor Intelligence, the meat market in Ghana is valued at US$1.5 billion and is expected to reach US$2.2 billion by 2027. The poultry market is valued at US$500 million and is expected to reach US$700 million by 2027. The seafood market is valued at US$250 million and is expected to reach US$350 million by 2027.

-Population Growth: Ghana’s population is growing rapidly, driving food consumption. The population of Ghana is estimated to reach 30 million by 2025, and experts believe it will continue to grow in the coming years.

-Urbanization :Urbanization is also driving the consumption of meat, poultry, and seafood. As people move to cities, they change their eating habits and start consuming more meat, poultry, and seafood.

-Rising Incomes: The rising purchasing power of Ghanaian consumers is also driving the consumption of meat, poultry, and seafood. As Ghanaians have more income, they can afford to buy more high-quality foods, including meat, poultry, and seafood.

-Opportunities for Businesses: The opportunities for businesses operating in the Ghanaian food market are significant. The country has a young and growing population, with a high level of income. Additionally, the Ghanaian government is supporting the agricultural sector, which is helping to increase the production of meat, poultry, and seafood.

-Some specific opportunities for businesses operating in the Ghanaian food market include:: Producing high-quality meat, poultry, and seafood. Businesses that can produce high-quality meat, poultry, and seafood will have a competitive advantage in the market.

Developing new products and services that cater to the tastes of Ghanaian consumers. Businesses that can develop new products and services that meet the needs of Ghanaian consumers will be successful in the market.

Expanding distribution to rural areas. The Ghanaian food market is large, but distributing food to rural areas is a challenge. Businesses that can expand their distribution to rural areas will have access to a larger market.

-Sources:

Mordor Intelligence: “Ghana Food Market – Growth, Trends, and Forecasts (2022-2027)”

World Bank: “Ghana – Population, Total”

World Bank: “Ghana – GDP per capita (PPP)”

Bangkok, Thailand – The food market in Thailand is booming, with a value of US$68 billion in 2023. The market is expected to grow at a CAGR of 5.25% from 2023 to 2028.

The growth of Thailand’s food market is being driven by a number of factors, including a growing population, rising incomes, and increasing urbanization. The country’s young population is also driving demand for new and innovative food products.

The food market in Thailand is segmented into a number of categories, including fresh food, processed food, and foodservice. The fresh food segment is the largest, with a market value of US$26 billion in 2023. The processed food segment is the second largest, with a market value of US$20 billion in 2023. The foodservice segment is the third largest, with a market value of US$22 billion in 2023.

The growth of Thailand’s food market is creating opportunities for both domestic and foreign companies. Domestic companies are expanding their product offerings and investing in new technologies to meet the growing demand for food. Foreign companies are also investing in Thailand, attracted by the country’s strategic location, growing economy, and young population.

The growth of Thailand’s food market is a positive sign for the country’s economy. The food industry is a major employer and contributor to the country’s GDP. The continued growth of the food market is expected to boost economic growth and create jobs in Thailand.

In addition to the factors mentioned above, the growth of Thailand’s food market is also being driven by the following trends:

• Increasing demand for convenience foods
• Growing popularity of healthy eating
• Rising awareness of food safety
• Increasing tourism

Food companies must to focus on the following areas to capitalize on the growth of the market:

• Innovation: Food companies need to innovate to meet the changing needs of consumers.
• Quality: Food companies need to focus on quality to differentiate their products from the competition.
• Exports: Food companies need to focus on exports to tap into the growing demand for Thai food products overseas.

The Thai food market is a dynamic and growing market with strong potential for growth. Food companies that can innovate, focus on quality, and export their products will be well-positioned to succeed in this market.

Sources:

• Food – Thailand | Statista Market Forecast: https://www.statista.com/outlook/cmo/food/thailand
• Thailand Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players, and Forecast, 2021-2026 – GlobalData: https://www.globaldata.com/store/report/thailand-foodservice-market-analysis/
• Thailand’s Food Industry – BOI: https://www.boi.go.th/upload/content/Food%20industry_5aa7b40bd758b.pdf
• Food industry looks to the future – Bangkok Post: https://www.bangkokpost.com/business/2585881/food-industry-looks-to-the-future

We are excited to announce that we will be exhibiting at THAIFEX ANUGA ASIA, Asia’s largest food and beverage trade show, from May 23-27, 2023, at the IMPACT Muang Thong Thani in Bangkok, Thailand.

We will be showcasing our latest products and innovations in the food and beverage industry, and we would be delighted to meet with you and discuss how we can help you grow your business.

Please visit us at Hall 3 Stand K20 to learn more. We look forward to seeing you there!

Here are some additional details about the event:

📅 Date: May 23-27, 2023
📍 Location: IMPACT Muang Thong Thani, Bangkok, Thailand
Hall: 3
Stand: K20
We hope to see you there!