Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Australia is witnessing minimal growth, influenced by factors like changing consumer preferences, environmental concerns, and increasing competition. Despite these challenges, the market continues to thrive due to the rising demand for sustainably sourced seafood and the convenience of online seafood purchases.
Customer preferences: Consumers in Australia are increasingly prioritizing sustainable and locally sourced seafood options, driven by a growing awareness of the environmental impact of conventional fishing practices. This has led to a rise in demand for certified sustainable seafood and a shift towards smaller, independent fishmongers who offer traceable and ethically caught fish. Additionally, there has been an increase in demand for alternative seafood options, such as plant-based seafood, as consumers become more health-conscious and environmentally conscious.
Trends in the market: In Australia, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a shift towards sustainable practices. Consumers are becoming more conscious of the environmental impact of their food choices and are demanding ethically sourced seafood. This trend is expected to continue, with the government implementing stricter regulations on fishing practices. Additionally, there is a growing demand for traceability and transparency in the seafood supply chain, with consumers wanting to know where their seafood comes from. This presents opportunities for industry stakeholders to differentiate themselves by promoting sustainable and ethical practices.
Local special circumstances: In Australia, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's vast coastline and strong fishing industry. The market is also shaped by the cultural preference for fresh, locally caught seafood, resulting in a strong demand for traditional fishmongers and seafood markets. Additionally, strict regulations on fishing practices and sustainability efforts have further shaped the market, resulting in a strong focus on traceability and sustainable sourcing. These factors differentiate the Australian market from others, driving consumer preferences and market dynamics.
Underlying macroeconomic factors: The Fresh Fish Market in Australia is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. The demand for fresh fish is driven by consumer spending, which is affected by economic stability and disposable income. Additionally, government policies on trade and fisheries management, as well as fluctuations in currency exchange rates, can impact the availability and cost of fresh fish. Furthermore, the growing awareness of the health benefits of seafood consumption and the rise in demand for sustainable and ethically sourced seafood are shaping the market in Australia.
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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