Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Argentina is experiencing subdued growth, influenced by factors such as increasing consumer health awareness and the convenience of online services. However, the market is hindered by challenges in the sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood, affecting its overall growth rate.
Customer preferences: As Argentina's economy continues to improve, there has been a notable increase in consumer spending on premium and sustainable fish and seafood products. This trend is driven by a growing awareness of the health benefits of incorporating seafood into the diet, as well as a desire for ethically and environmentally conscious consumption. Additionally, with the rise of online shopping and home delivery services, consumers are increasingly turning to e-commerce platforms to purchase fish and seafood, further driving the market's growth.
Trends in the market: In Argentina, the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably sourced products. This trend is driven by consumers' increasing awareness of the environmental impact of fishing practices and their desire for healthier, ethically-sourced options. As a result, industry stakeholders are investing in sustainable fishing methods and certifications, while also promoting transparency and traceability in their supply chains. This trend is expected to continue, with potential implications for increased competition and pricing pressures for those unable to meet consumer demands for sustainable products.
Local special circumstances: In Argentina, the Fish & Seafood Market is heavily influenced by its coastal location and strong fishing industry. The country's rich marine resources, coupled with its strong fishing traditions, have led to a diverse and thriving seafood market. Additionally, Argentina's strict regulations on fishing practices and sustainability have contributed to the high quality and reputation of its seafood. This unique combination of geographical and regulatory factors has led to a market dynamic that sets Argentina apart from other markets in the Food industry.
Underlying macroeconomic factors: The Fish & Seafood Market in Argentina is heavily impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The country's economic stability and policies greatly influence the market's growth and performance. Favorable economic conditions, such as high consumer spending and a stable currency, can lead to increased demand for fish and seafood products. On the other hand, economic downturns and inflation can lead to a decrease in consumption and demand. Additionally, government policies and regulations regarding seafood production, import, and export also play a significant role in shaping the market's landscape. Overall, a stable and growing economy can contribute to the expansion of the Fish & Seafood Market in Argentina.
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.
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