Definition:
The Fish & Seafood market covers products made from edible fish and crustaceans, mollusks, and other seafood. These products have been farmed or harvested from freshwater or the ocean and are bought and consumed for nutrient-based purposes.
Structure:
The market consists of 3 different submarkets:
Additional Information:
The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.
For more information on the displayed data, click the info button on the right side of each box.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The Fish & Seafood Market in Americas is experiencing moderate growth, influenced by factors such as the increasing demand for fresh and processed fish and seafood, growing health consciousness, and the convenience of online shopping. However, the market's growth rate is hindered by challenges such as declining fish stocks and stricter regulations for sustainable fishing practices. Despite these challenges, the market is expected to continue growing steadily in the coming years.
Customer preferences: "As consumers become more health-conscious, there has been a growing demand for sustainably-sourced and ethically-produced fish and seafood products in the Americas. This trend is driven by a heightened awareness of the environmental impact of commercial fishing practices and a desire for transparency in the supply chain. Additionally, the increasing popularity of plant-based diets and alternative protein sources has led to a rise in the availability and consumption of plant-based seafood products. This shift towards ethical and sustainable choices reflects a larger cultural shift towards mindful and conscious consumption in The Food market.
Trends in the market: In the Americas, the Fish & Seafood Market is experiencing a shift towards sustainable and eco-friendly practices. This trend is driven by consumer demand for ethically sourced seafood and the need to protect marine ecosystems. As a result, companies are implementing traceability systems and certifications to ensure transparency and responsible sourcing. This trend is expected to continue, with potential implications for stakeholders such as fishermen, retailers, and consumers. By embracing sustainability, companies can improve their reputation and appeal to environmentally conscious consumers, while also contributing to the preservation of our oceans.
Local special circumstances: In the Americas, the Fish & Seafood Market is heavily influenced by the region's vast coastlines and rich fishing traditions. The market is also affected by cultural preferences, with certain types of fish and seafood being more popular in different countries. Regulatory factors, such as fishing quotas and sustainability measures, also play a significant role in shaping the market. For example, in the United States, there is a growing demand for sustainable and ethically sourced seafood, leading to the rise of certification programs and labeling initiatives. In Canada, the indigenous fishing community has a strong presence in the market, with their traditional harvesting techniques and unique seafood offerings. Overall, these local factors contribute to the dynamic and diverse nature of the Fish & Seafood Market in the Americas.
Underlying macroeconomic factors: The Fish & Seafood Market in the Americas is greatly influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. For example, countries with stable economic growth and favorable trade policies tend to have a higher demand for fish and seafood products. In addition, countries with strong fishing industries and investments in seafood harvesting and processing technologies are experiencing faster market growth compared to regions with limited resources and infrastructure. Furthermore, the increasing demand for healthy and sustainable food options, coupled with the rising awareness of the health benefits of fish and seafood consumption, is driving the growth of the market in the Americas. Additionally, the growing population and changing dietary habits in the region are also contributing to the demand for fish and seafood products.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights