Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Austria is experiencing minimal growth, influenced by factors such as consumer preference for fresh and locally sourced products, increasing health consciousness, and the convenience of online shopping. Despite the slow growth rate, advancements in technology and sustainable fishing practices are expected to drive market growth in the future.
Customer preferences: As consumers in Austria become more health-conscious, there is a growing demand for sustainably sourced and ethically produced fish and seafood products. This trend is driven by a rising awareness of the environmental impact of traditional fishing practices and a desire for healthier and cleaner food options. Additionally, there is an increasing popularity of plant-based seafood alternatives among individuals looking for more sustainable and ethical food choices. These shifts in consumer preferences are also influenced by the growing number of flexitarians and vegetarians in the country, as well as the overall trend towards a more environmentally-friendly and conscious lifestyle.
Trends in the market: In Austria, the Fish & Seafood Market within The Food market is experiencing a growing demand for sustainably sourced and organic products. This trend is driven by the increasing awareness of the environmental impact of fishing and the health benefits of consuming organic seafood. Furthermore, there is a rising trend of online seafood marketplaces, providing convenience and access to a wider range of products. This trajectory is significant for industry stakeholders as it presents opportunities for market expansion and diversification. However, it also poses challenges in terms of supply chain management and ensuring the credibility of sustainable and organic certifications.
Local special circumstances: In Austria, the Fish & Seafood Market is heavily influenced by the country's mountainous geography and landlocked location. As a result, the market is heavily reliant on imports, with a strong focus on sustainable and eco-friendly practices. The country's cultural appreciation for high-quality and locally sourced food also plays a significant role in shaping the market, with a strong emphasis on traditional fishing methods and organic products. Additionally, strict regulations and certifications for seafood products ensure consumer trust and contribute to the market's stability and growth.
Underlying macroeconomic factors: The Fish & Seafood Market in Austria is heavily influenced by macroeconomic factors such as consumer demand, trade policies, and environmental regulations. The country's strong economy and high disposable income levels contribute to a robust market for premium and sustainable seafood products. Additionally, Austria's strategic location and membership in the European Union make it a key player in the global fish and seafood trade. However, the market's growth is also affected by factors such as changing consumer preferences and increasing awareness about sustainable fishing practices. As a result, market players are investing in innovative technologies and partnerships to meet the evolving demands of the market and achieve sustainable growth.
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)
