Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Brazil is experiencing modest growth, impacted by factors such as changing consumer preferences, increasing health concerns, and convenience of online services. The sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood all play a role in shaping the overall market, with varying levels of growth due to factors such as sustainability concerns and regional demand trends. Despite subdued growth, the market continues to expand as the country's economy stabilizes and consumers' spending power increases.
Customer preferences: With an increasing focus on health and wellness, consumers in Brazil are gravitating towards sustainably sourced and organic fish and seafood products. This trend is driven by a growing awareness of the environmental impact of industrial fishing practices and the health benefits of consuming seafood with minimal chemical additives. Additionally, the rise of plant-based and flexitarian diets has led to a demand for plant-based seafood alternatives. This shift towards more conscious and ethical consumption is expected to continue in the coming years.
Trends in the market: In Brazil, the Fish & Seafood Market is experiencing a shift towards sustainable and traceable sourcing practices. Consumers are increasingly demanding transparency and ethical sourcing in their seafood purchases. This trend is driven by concerns over overfishing and environmental impact. In addition, there is a growing preference for fresh and locally sourced seafood, leading to an increase in small-scale fisheries. Industry stakeholders must adapt to these trends by implementing sustainable practices and investing in transparency measures to meet consumer demands and ensure long-term viability of the market.
Local special circumstances: In Brazil, the Fish & Seafood market is heavily influenced by the country's extensive coastline, which provides an abundant source of fresh seafood. Additionally, the cultural preference for seafood as a staple in Brazilian cuisine drives demand in this market. The country's strict regulations for seafood imports also play a significant role, as it promotes the consumption of locally sourced products. Furthermore, Brazil's growing tourism industry has boosted the demand for high-quality seafood, leading to the development of new and innovative products in the market. These unique factors contribute to the dynamic growth of the Fish & Seafood market in Brazil.
Underlying macroeconomic factors: The Fish & Seafood Market in Brazil is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. Brazil's economy is the largest in Latin America and has shown steady growth in recent years, which has positively impacted consumer spending and overall market performance. Additionally, the country's favorable regulatory environment and investments in the seafood industry have contributed to its strong position in the global market. The increasing demand for healthy and sustainable seafood products, coupled with Brazil's abundant natural resources and growing middle class, are expected to drive further growth in the Fish & Seafood Market in the country.
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)
