Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Bahrain has seen moderate growth in recent years, influenced by factors such as the increasing demand for fresh seafood, growing health consciousness among consumers, and the convenience of purchasing fish online. However, the market's growth rate remains minimal due to various challenges, such as unstable supply and fluctuating prices.
Customer preferences: Consumers in Bahrain are showing a growing preference for sustainably sourced and locally caught fresh fish. This trend is driven by the increasing awareness of the impact of overfishing on the environment and the desire to support local fishermen and businesses. Additionally, there is a growing demand for convenient and healthy food options, leading to an increase in the availability of ready-to-eat seafood products in supermarkets and online delivery services. This shift towards sustainable and convenient seafood options is also influenced by the busy lifestyles of urban consumers and the desire for quick and easy meal solutions.
Trends in the market: In Bahrain, the Fresh Fish Market of the Fish & Seafood Market within The Food market is seeing a rise in sustainable seafood options. This trend is driven by consumer demand for ethically sourced and environmentally friendly seafood. Additionally, there is a growing trend towards online ordering and delivery of seafood products, providing convenience for customers. The significance of these trends is that they are promoting a more responsible and accessible seafood market. For industry stakeholders, this presents opportunities to differentiate themselves and cater to changing consumer preferences. However, it also poses challenges in terms of supply chain management and maintaining quality standards in the online marketplace. Overall, these trends suggest a shift towards a more sustainable and technology-driven seafood market in Bahrain.
Local special circumstances: In Bahrain, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's geographical location as an island nation and its strong fishing industry. Additionally, cultural factors, such as the traditional love for seafood in Bahraini cuisine, play a significant role in driving the demand for fresh fish. Furthermore, the government's strict regulations and standards for the fishing industry ensure the supply of high-quality and sustainable seafood, making it a unique market compared to other countries. These factors contribute to the dynamic and thriving nature of the Fresh Fish Market in Bahrain.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Bahrain is influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. Bahrain's strong economic growth and stable political climate have contributed to the growth of the Fresh Fish Market. The government's efforts to diversify the economy and promote tourism have also led to an increase in demand for fresh seafood. Additionally, Bahrain's strategic location in the Gulf region and its access to international markets have made it a hub for seafood trade, further boosting the market. However, fluctuations in global oil prices and regional political instability can impact the market's performance. Moreover, the ongoing COVID-19 pandemic has also affected the market, with disruptions in supply chains and a decline in consumer spending. Nevertheless, the growing demand for healthy and sustainable food options, coupled with the increasing popularity of seafood in Bahrain's cuisine, is expected to drive the growth of the Fresh Fish Market in the future.
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)
