Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Cambodia has seen minimal growth in recent years due to various factors such as limited access to digital technologies, low health awareness among consumers, and a lack of convenience in online services. Despite this, the market continues to provide a vital source of fresh seafood for the region.
Customer preferences: Consumers in the Fresh Fish Market of the Fish & Seafood Market within The Food market are increasingly seeking sustainable and environmentally friendly seafood options. This trend is influenced by a growing awareness of the negative impact of overfishing on marine life and the importance of preserving the ocean ecosystem. Additionally, there is a growing demand for locally sourced seafood, driven by a desire to support local businesses and reduce the carbon footprint of transportation. This shift towards sustainable and local seafood options is reflective of a broader global trend towards conscious consumption and ethical consumerism.
Trends in the market: In Cambodia, the Fresh Fish Market within the Fish & Seafood Market is experiencing an increase in demand for sustainably sourced seafood. Consumers are becoming more conscious of the environmental impact of their food choices and are seeking out responsibly sourced products. This trend is expected to continue as the government implements stricter regulations on fishing practices. This will have a significant impact on industry stakeholders, as they will need to adapt to meet consumer demands and potentially invest in sustainable fishing methods. Additionally, there is a growing trend towards e-commerce in the seafood market, with more consumers purchasing fresh fish online. This could have implications for traditional fish markets, as they may need to modernize and compete with online platforms to remain relevant.
Local special circumstances: In Cambodia, the Fresh Fish Market within the Fish & Seafood Market is heavily influenced by the country's geographical location and cultural practices. With a coastline spanning over 400 kilometers, fishing is a major economic activity in Cambodia. However, the market is also influenced by traditional practices of fishing and consumption, such as the use of small-scale fishing methods and the preference for fresh fish over frozen products. Additionally, there are strict regulations in place to ensure sustainable fishing practices, further shaping the dynamics of the market.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Cambodia is impacted by various macroeconomic factors. These include the country's economic growth, government policies, and global economic trends. Cambodia has been experiencing strong economic growth, which has led to an increase in disposable income and consumer spending. This has positively affected the demand for fresh fish and seafood in the market. Furthermore, the government's efforts to improve infrastructure and promote the fishing industry have also contributed to the growth of the market. On a global scale, the rising demand for healthy and sustainable food options has also influenced the growth of the Fresh Fish Market in Cambodia. As consumers become more health-conscious, the demand for fresh fish and seafood is expected to continue growing.
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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