Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Fiji is experiencing minimal growth due to factors such as limited access to technology in certain regions, lower health awareness among consumers, and the dominance of traditional markets. However, the increasing availability of online platforms and the growing demand for sustainable and locally sourced seafood are expected to drive future growth.
Customer preferences: The growing awareness of sustainable seafood practices has led to a rise in demand for locally sourced and ethically caught fish and seafood in Fiji. This trend is driven by the cultural value placed on preserving marine ecosystems and the increasing concern for the environmental impact of industrial fishing. Additionally, the rise in health-conscious consumers has led to a preference for wild-caught, low-mercury fish and seafood options over farmed alternatives.
Trends in the market: In Fiji, the Fish & Seafood Market is experiencing a shift towards sustainable fishing practices, with a growing demand for certified, eco-friendly seafood products. This trend is driven by consumer awareness and government regulations promoting sustainable fishing methods. Additionally, there is a rise in online seafood marketplaces, allowing for direct-to-consumer sales and promoting transparency in the supply chain. These trends have significant implications for industry stakeholders, as they must adapt to meet consumer demands for sustainable and traceable seafood products. This also presents opportunities for businesses to differentiate themselves in the market and potentially increase profits through eco-friendly practices.
Local special circumstances: In Fiji, the Fish & Seafood Market is heavily influenced by the country's abundant marine resources and traditional fishing practices. With a strong emphasis on sustainability and community-based management, the market is characterized by locally caught and ethically sourced seafood. Additionally, Fiji's unique blend of Indo-Fijian and Melanesian cultures has led to a diverse range of seafood dishes, providing a niche market for high-quality products. The government's strict regulations on fishing practices and importation further shape the market, promoting a focus on locally produced seafood.
Underlying macroeconomic factors: The Fish & Seafood Market within The Food market in Fiji is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. The market growth is affected by the country's economic stability, trade policies, and investment in the fishing industry. In addition, the demand for fish and seafood is also influenced by consumer preferences and purchasing power. Fiji's favorable geographic location and abundant marine resources make it a major exporter of fish and seafood, contributing to the country's economic growth. However, challenges such as illegal fishing and climate change can impact the market in the long term.
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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