Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Eastern Africa is experiencing a mild growth rate, influenced by factors such as the increasing demand for fresh and processed fish, as well as the growing health consciousness among consumers. The convenience of online services is also contributing to the market's growth, with the region's diverse sub-markets catering to different consumer preferences.
Customer preferences: Consumers in Eastern Africa are increasingly seeking sustainable and locally sourced fish and seafood options, driven by a growing awareness of environmental and health concerns. This trend is also influenced by cultural preferences for fresh, whole foods and the desire to support local fishermen and economies. As a result, there has been a surge in demand for ethically and sustainably sourced fish and seafood, as well as a rise in popularity of traditional fishing methods and smaller, community-based fisheries. This shift towards sustainable and locally sourced options aligns with the growing demand for transparency and ethical consumption in The Food market.
Trends in the market: In Eastern Africa, the Fish & Seafood Market within The Food market is experiencing a rise in demand for sustainable and locally sourced products. Consumers are becoming more conscious of the environmental impact of their food choices and are seeking out eco-friendly options. This trend is significant as it presents an opportunity for industry stakeholders to tap into a growing market for sustainable seafood. It also has implications for supply chain management and sourcing strategies, as companies may need to shift towards more environmentally responsible practices to meet consumer demand. Additionally, this trend could lead to increased competition in the market, as more players enter with sustainable offerings.
Local special circumstances: In Eastern Africa, the Fish & Seafood market is heavily influenced by the region's coastal location and cultural traditions. The demand for fresh seafood is high in countries like Kenya, Tanzania, and Mozambique, leading to a thriving fishing industry. However, strict regulations on fishing practices and exports have also affected market dynamics. Additionally, cultural preferences for specific types of seafood, such as tilapia and prawns, have created niche markets within the overall Fish & Seafood market. These factors contribute to the unique dynamics of the region's Fish & Seafood market, setting it apart from other markets within The Food market industry.
Underlying macroeconomic factors: The Fish & Seafood Market within The Food market in Eastern Africa is significantly impacted by macroeconomic factors such as trade policies, global seafood demand, and regional economic performance. Countries with stable economic growth and supportive trade policies are likely to experience higher market growth due to increased exports and domestic consumption. Furthermore, rising health consciousness and disposable income in the region are also driving the demand for high-quality and sustainably sourced fish and seafood products, creating opportunities for market 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.
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