Growing Market Opportunities in Marine Fisheries
π Global Outlook
The global seafood market is expected to register an annual growth of 2.9% from 2021 to 2027.
The global market was estimated at USD $113.2 Billion in 2020 and is projected to reach USD $138.7 Billion by 2027.
As a result of COVID-19, capture fishery production in some countries was halted or reduced, encouraging long-term transformations in the sector.
Source: Research and Markets, 2021
π Regional Outlook
Fishery contributes over 10% to GDP and provides an estimated 80% of animal protein consumed in Sierra Leone.
Leveraging the regional market to achieve economies of scale allows investors to access over 40 million consumers.
Source: UNFAO, 2020
The fisheries sector supports livelihoods and food security across Sierra Leoneβs coastal communities.