Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish market in the EAEU region is steadily growing due to factors such as increasing demand for seafood, rising health consciousness among consumers, and the convenience of purchasing fish online. This growth is mainly driven by the average growth rate of the overall Food market in the region, which is impacted by factors such as economic stability, changing consumer preferences, and government regulations.
Customer preferences: As consumers in the EAEU continue to prioritize convenience and health-consciousness, the Fresh Fish Market of the Fish & Seafood Market within The Food market has seen a rise in demand for sustainably sourced and locally caught seafood. This shift is driven by cultural preferences for fresh and high-quality products, as well as a growing awareness of the environmental impact of global seafood production. Additionally, as more consumers opt for healthier and cleaner eating habits, the market has also witnessed a surge in demand for organic and wild-caught seafood options.
Trends in the market: In the EAEU, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a shift towards sustainable and traceable seafood. This trend is driven by increasing consumer demand for responsibly sourced products and the implementation of stricter regulations on fisheries. As a result, there is a growing adoption of certification programs and technologies that enable real-time tracking of seafood from catch to consumption. This trajectory is significant for industry stakeholders as it can improve supply chain transparency and enhance consumer trust. However, it may also pose challenges for smaller players who may struggle to meet the requirements for certification. Additionally, there may be a need for education and awareness campaigns to increase consumer understanding and willingness to pay for sustainable seafood.
Local special circumstances: In the EAEU, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the region's abundant natural resources and traditional fishing practices. This results in a wide variety of fresh, local seafood options for consumers. Additionally, the EAEU's strict regulations on fishing and food safety standards contribute to the high quality and safety of the seafood market. Unlike other markets, the EAEU also has a strong cultural tradition of consuming fresh seafood, leading to a high demand for these products.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market is greatly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. The market's growth is largely dependent on the overall economic stability and consumer purchasing power in the given country. Favorable economic conditions, such as low unemployment rates and rising disposable incomes, tend to drive demand for premium fish and seafood products. Additionally, government policies and regulations related to trade, taxes, and subsidies can greatly influence the market's performance. The market is also affected by global economic trends, such as changes in international trade agreements and fluctuations in currency exchange rates. Furthermore, investments in infrastructure and technological advancements in the fishing and seafood industries can greatly impact the market's growth and competitiveness. Overall, a stable and supportive macroeconomic environment is crucial for the success and growth of the Fresh Fish Market within The Food market.
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)
