Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in CIS is experiencing steady growth due to factors such as rising demand for fresh seafood, increasing health consciousness among consumers, and the convenience of online ordering. The market's average growth rate is influenced by factors such as sustainable fishing practices and the availability of high-quality, locally-sourced fish.
Customer preferences: As consumers become more health-conscious, there is a growing demand for sustainable and ethically-sourced fresh fish in the Fish & Seafood Market. This trend is driven by a rising awareness of the environmental impact of traditional fishing practices and a desire for healthier and more ethical food choices. Additionally, there is a growing preference for locally-sourced fish, as consumers become more conscious of their carbon footprint and support local businesses. This shift towards sustainability and ethical consumption is expected to continue in the coming years.
Trends in the market: In the CIS region, the Fresh Fish Market within the Fish & Seafood Market is experiencing a surge in demand for sustainable and traceable seafood products. This trend is driven by consumers' increasing awareness of the environmental impact of their food choices. This has led to the adoption of certifications and labels, such as MSC and ASC, by industry players to showcase their commitment to sustainability. This trend is expected to continue, with potential implications for stakeholders including increased competition for certified products and the need for greater transparency in supply chains.
Local special circumstances: In the CIS region, the Fresh Fish Market within the Fish & Seafood Market of The Food market is heavily influenced by the region's vast coastline and rich fishing industry. The market is also shaped by cultural preferences, with a strong demand for fresh, locally-sourced seafood. Additionally, regulatory policies such as import restrictions and quality control measures play a significant role in shaping the dynamics of the market. These factors have led to a competitive and diverse market, with a wide range of seafood options available to consumers. In contrast, the Fresh Fish Market in other regions may be dominated by imported seafood, and cultural preferences may vary, leading to a different market landscape.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market is impacted by various macroeconomic factors. One of the main drivers of market growth is the increasing demand for healthy and sustainable food options, driven by global health trends and changing consumer preferences. Additionally, favorable economic conditions, such as low inflation rates and rising disposable incomes, are expected to boost consumer spending on premium fish and seafood products. However, challenges such as fluctuating seafood prices and regulations on fishing and seafood trade can hinder market growth. Overall, the Fresh Fish Market is highly influenced by global economic trends and national economic health, along with regulatory policies and consumer behavior.
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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