Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Bangladesh is seeing subdued growth, impacted by various factors such as limited consumer health awareness and lack of access to digital technologies. Despite this, the convenience of online services is driving some growth in the Fish & Seafood Market within The Food market, with a slow but steady increase in demand.
Customer preferences: With the rise of health consciousness and concerns over food safety, consumers in Bangladesh are increasingly opting for locally sourced and sustainably caught fresh fish. This trend is driven by cultural traditions and preferences for fresh, unprocessed foods. Additionally, the growing middle class and urbanization have led to an increase in demand for convenience and ready-to-cook seafood options, such as pre-packaged fillets and marinated fish. This shift towards convenience and quality has also spurred the growth of online fish delivery services, catering to busy lifestyles and offering a wider range of seafood choices.
Trends in the market: In Bangladesh, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably sourced seafood. This trend is driven by increasing consumer awareness and government initiatives promoting sustainable fishing practices. As a result, industry stakeholders are investing in sustainable fishing methods and certifications to meet consumer demands. This trend is expected to continue, with potential implications for industry players who fail to adapt to sustainable practices. Additionally, the market is witnessing a rise in e-commerce platforms offering fresh fish delivery, providing convenience and safety to consumers during the ongoing pandemic.
Local special circumstances: In Bangladesh, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's geographical location and cultural traditions. As a major riverine and coastal nation, Bangladesh has a rich variety of fish species that are highly sought after in the local market. Additionally, the cultural preference for fresh fish over frozen or processed options has created a strong demand for local fishermen and small-scale fish farmers. The government's strict regulations on fish imports have also limited competition, leading to a thriving domestic market for fresh fish.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Bangladesh is heavily influenced by macroeconomic factors. The country's economic growth, stability, and infrastructure development have a significant impact on the market's performance. Other key factors include global economic trends, trade policies, and consumer demand. The increasing demand for seafood and fish products in the country has also been driven by the growing population and rising income levels. As a result, the government has implemented policies to boost the fish and seafood industry, such as providing subsidies for fish farming and investing in modern fishing techniques. Moreover, the country's favorable location and access to international markets have led to the growth of its seafood export industry, further driving the market's performance.
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)
