Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in China is facing subdued growth due to various factors, including increasing competition from imported seafood, consumer concerns about food safety, and the impact of environmental regulations on fishing. Despite this, the market is still experiencing moderate growth, driven by rising demand for high-quality and sustainable seafood products.
Customer preferences: As the demand for healthy and sustainable food options continues to rise in China, consumers are increasingly turning to fresh fish as a source of protein. This trend is being driven by a growing awareness of the health benefits of seafood, as well as a desire for more diverse and nutritious dining options. Additionally, the rise of e-commerce and online grocery shopping has made it easier for consumers to access high-quality fresh fish from a variety of suppliers, further fueling the growth of the market.
Trends in the market: In China, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a surge in e-commerce sales, with more consumers turning to online platforms for their seafood purchases. This trend is driven by the convenience of online shopping, as well as the increasing demand for high-quality and sustainable seafood. As a result, major players in the market are investing in technology and logistics to improve their online presence and meet the growing demand. This trend is expected to continue, presenting opportunities for industry stakeholders to expand their customer base and enhance their competitive edge in the market. Additionally, this shift towards online sales could also lead to changes in consumer behavior and preferences, as well as potential disruptions to traditional supply chains.
Local special circumstances: In China, the Fresh Fish Market within the Fish & Seafood Market is heavily influenced by the country's geographical location as a major coastal nation. This allows for a wide variety of fish and seafood options, with each region offering unique local delicacies. Additionally, the Chinese culture places a strong emphasis on fresh and high-quality ingredients in their cuisine, driving the demand for fresh fish in the market. Furthermore, the regulatory environment in China is constantly evolving, with increasing regulations on food safety and traceability, which has a significant impact on the supply chain and market dynamics for fresh fish.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in China is heavily impacted by macroeconomic factors such as economic growth, consumer spending power, and government policies. With China's growing economy and rising middle class, there is a higher demand for fresh fish and seafood products. Additionally, the government's efforts to promote sustainable fishing practices and improve food safety regulations have positively influenced the market. However, challenges such as trade tensions and fluctuations in currency exchange rates can also affect the market's growth. Furthermore, increasing health consciousness and the trend towards healthy eating habits in China have also contributed to the growth of the Fresh Fish Market as consumers seek out nutritious and high-quality seafood options.
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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