Eighty20 Highlights South Africa’s Marine Economy Growth With Robust Fish Export Performance

According to Eighty20, a consumer and data science company that highlights shifting consumer trends in retail and brand preferences across income levels, the sector, buoyed by South Africa’s nearly 3,000km of coastline and a R19.9bn marine economy, recorded an 8.6% increase in seafood exports in 2024, reaching R9bn.

Exports were led by fresh fish (40% of SA exports) and molluscs like cuttlefish and abalone (30%), with key markets including Spain (25.5%), Italy (18.2%), and the US (9%). The US dominates fresh whole fish imports, consuming 60% of South Africa’s fresh exports.

On the local front, seafood imports totalled R5.4bn, with Namibia, Norway and China leading as suppliers.

Norwegian exports to South Africa are predominantly fresh salmon — 82% of fish exports, a reflection of the growing sushi market, both in grocers and restaurants.

“Sushi sits right at the intersection of South African consumer trends: it’s fast, fresh and aspirational,” says Andrew Fulton, director at Eighty20.

“Our recent fish-focused Fact-a-Day content reminds us how global and local forces work together—from Norwegian salmon on Cape Town shelves to sardines powering transformation in the local fishing industry.”

Retailers have adapted radpidly, with sushi offerings now prevalent in most of our local grocers, offering prepackaged sushi-to-go.

Sushi also holds 6% of the national restaurant category share, according to Global Data, illustrating its popularity among urban consumers seeking healthier, innovative meals.

The broader fishing industry shows modest growth

While South Africa's appetite for ready-to-eat sushi continues to grow, the broader fishing industry has delivered mixed performance with modest growth overall.

Export markets have remained relatively stable, particularly for premium products like abalone and lobster, but profitability pressures have intensified across major players.

The sector's largest companies have shown divergent trajectories.

Sea Harvest Group posted revenue of R7.2bn for FY 2024, an increase of 16%, alongside operating profit growth of 26%.

In contrast, Oceana Group shows revenue growth of 2.9% year-on-year in their March 2025 interim results, while operating profit declined 33.5%.

Meanwhile, I&J recorded a revenue decline of 1.1% in its most recent 2024 financial statements.

Tinned fish remains a national staple, with Eighty20’s analysis of MAPS data shows that two-thirds of South Africans buy tinned fish monthly across all incomes, owing to demand for affordable shelf-stable protein due to cost-of-living challenges amongst all South Africans.

While tinned fish consumption matches LSM and SEM distribution, brand loyalty is fairly clear, with John West and Mayfair represented more in higher-income groups, while Koo and Lucky Star are more consumed in the mass market, even though Oceana, owner of the Lucky Star brand recently pointed out growth at retailers such as Woolworths.

The sector also delivers unexpected stories — Lesotho, a landlocked country, exported over R12m in fish to the US in 2023 and has previously shipped sushi-grade fish to Japan.

“As global demand continues and local preferences evolve, South Africa’s seafood economy is proving both adaptable and essential, connecting traditional staples to modern convenience and international trade,” concludes Fulton.