Fresh Fish - Bosnia and Herzegovina

Bosnia and Herzegovina

Highlights

Revenue in the Fresh Fish market amounts to US$124.50m in 2024. The market is expected to grow annually by 4.61% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$57bn in 2024).
In relation to total population figures, per person revenues of US$38.98 are generated in 2024.
In the Fresh Fish market, volume is expected to amount to 6.12m kg by 2029. The Fresh Fish market is expected to show a volume growth of 2.6% in 2025.0.
The average volume per person in the Fresh Fish market is expected to amount to 1.7kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Fish Market in Bosnia and Herzegovina is experiencing minimal growth, impacted by factors such as limited consumer demand and competition from traditional markets. Despite this, the market continues to see steady growth due to the convenience and increasing health awareness among consumers. Online services and digital technologies are also driving growth in the Fish & Seafood Market within The Food market of Bosnia and Herzegovina.

Customer preferences: Over the past few years, there has been a noticeable increase in the demand for sustainably-sourced and ethically-produced seafood in Bosnia and Herzegovina. This trend is driven by a growing awareness among consumers about the negative impact of overfishing and unsustainable fishing practices on the environment. As a result, there has been a rise in the popularity of locally-caught and responsibly-sourced fresh fish in the Fresh Fish Market. Additionally, there has been a shift towards healthier and more diverse seafood options, reflecting the changing preferences of the younger generation who are more health-conscious and open to trying different cuisines.

Trends in the market: In Bosnia and Herzegovina, the Fresh Fish Market within the Fish & Seafood Market of The Food market is experiencing a rise in demand for sustainably sourced seafood products. This trend is driven by increasing consumer awareness of the importance of sustainable fishing practices and the environmental impact of overfishing. As a result, there is a growing number of seafood retailers and restaurants offering certified sustainable seafood options. This trend is expected to continue, with potential implications for industry stakeholders such as increased competition and the need for stricter sourcing regulations. Additionally, there is a growing trend towards e-commerce in the seafood market, with online platforms offering direct-to-consumer sales and delivery services. This trajectory is expected to continue, providing new opportunities for market expansion and enhancing accessibility for consumers.

Local special circumstances: In Bosnia and Herzegovina, the Fresh Fish Market of the Fish & Seafood Market within The Food market is shaped by the unique geographical landscape of the country. Located in the Balkan region, the market benefits from the country's access to the Adriatic Sea, providing a diverse range of fresh seafood options. Additionally, the market is influenced by the cultural tradition of consuming fresh fish, making it a staple in the local cuisine. The regulatory framework also plays a role, with strict guidelines in place for the import and export of seafood, ensuring the quality and sustainability of the market.

Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Bosnia and Herzegovina is greatly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. The country's economic stability and growth, as well as its trade policies and regulations, play a significant role in the performance of the market. Additionally, consumer spending power and disposable income also influence the demand for fresh fish and seafood products. The market is also affected by global market trends such as increasing health and environmental awareness, as well as the growing demand for sustainable and ethically-sourced food products. Government initiatives and investments in the fisheries sector also have a direct impact on the market, as they can improve production and supply of fresh fish and seafood products for both domestic and international markets.

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.