Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in The Food market Worldwide is experiencing minimal growth due to factors such as fluctuating seafood prices, increasing competition, and consumers' shift towards plant-based diets. Despite these challenges, the market is still driven by the convenience and health benefits of consuming fresh seafood.
Customer preferences: Consumers are becoming more health-conscious and are seeking out sustainable and ethically-sourced seafood options. This has led to a rise in demand for responsibly-farmed and wild-caught fresh fish. Additionally, the growing trend of clean eating and organic diets has also contributed to the popularity of fresh, unprocessed fish. With increasing concerns about the environmental impact of traditional fishing methods, consumers are also showing a preference for locally-sourced fish, further driving the growth of the fresh fish market.
Trends in the market: In the worldwide Fresh Fish Market of the Fish & Seafood Market within The Food market, there is a growing trend towards sustainable fishing practices and traceability in the supply chain. This is driven by increasing consumer demand for ethically sourced and environmentally friendly seafood. In addition, there is a rise in the use of technology in the seafood industry, such as blockchain and RFID tracking, to ensure transparency and quality control. These trends are expected to continue, as consumers become more conscious of their food choices and regulations around seafood become stricter. This has significant implications for industry stakeholders, who must adapt to meet these demands and implement sustainable practices to remain competitive in the market.
Local special circumstances: In Japan, the Fresh Fish Market is heavily influenced by the country's rich fishing tradition and strict regulations on sustainable fishing practices. The demand for high-quality, locally-sourced seafood is also driven by Japanese cuisine's emphasis on freshness and seasonality. Additionally, the government's efforts to promote domestic consumption of fish have resulted in a unique distribution system, with auction markets and direct sales from fishermen to consumers. These factors contribute to the dynamic and competitive nature of the Fresh Fish Market in Japan.
Underlying macroeconomic factors: The growth of the Fresh Fish Market within the Fish & Seafood Market of The Food market is heavily influenced by macroeconomic factors such as consumer preferences, trade policies, and environmental regulations. Countries with a strong demand for fresh seafood and favorable trade agreements experience higher market growth, while regions with strict environmental regulations and limited fishery resources may face challenges in meeting consumer demand. Additionally, economic factors such as GDP growth, disposable income, and consumer spending play a significant role in driving market performance, as consumers are more likely to purchase higher-priced seafood products when the economy is strong. Furthermore, changing dietary patterns and increasing health consciousness among consumers are also impacting the demand for fresh fish, with a growing preference for healthy and sustainable food options.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
