Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Australia & Oceania is seeing a slow growth rate, impacted by factors such as changing consumer preferences and the rise of alternative protein sources. However, the convenience and health benefits offered by fresh seafood continue to drive demand in the region.
Customer preferences: As consumers become more health-conscious, there is a growing demand for sustainably sourced and ethically produced seafood in the Fresh Fish Market of the Fish & Seafood Market. This is reflected in an increase in sales of certified organic and fair-trade seafood products. Additionally, there is a growing trend towards plant-based seafood alternatives, driven by concerns about overfishing and the environmental impact of traditional fishing methods.
Trends in the market: In Australia & Oceania, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a shift towards sustainable and environmentally-friendly practices. Consumers are becoming increasingly conscious of the impact of their seafood consumption on the ocean's health, leading to a demand for sustainably sourced seafood. This trend is expected to continue, with the potential for stricter regulations and certifications being put in place. Industry stakeholders will need to adapt and prioritize sustainability in order to stay competitive in the market.
Local special circumstances: In Australia & Oceania, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the region's vast coastlines and abundance of marine life. The market is also shaped by cultural traditions, with seafood being a staple in many indigenous diets and a popular choice for holiday gatherings. Additionally, strict regulations on sustainable fishing practices have resulted in a strong emphasis on eco-friendly and locally sourced seafood, catering to the growing demand for ethical and environmentally friendly options.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Australia & Oceania is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. With the region being a major exporter of seafood, fluctuations in the global economy can have a significant impact on the demand and prices of fresh fish. Additionally, the economic health of individual countries within the region, as well as their fiscal policies, can affect consumer spending and overall market performance. Other relevant financial indicators, such as exchange rates and tariffs, also play a role in shaping the market dynamics for fresh fish in Australia & Oceania.
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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