Key regions: Russia, South Korea, Canada, United States, Philippines
The Fish & Seafood Market in Eastern Africa is seeing moderate growth due to various factors such as increasing demand for fresh fish, rising health consciousness among consumers, and convenience of online fish markets. However, the subdued growth rate is being impacted by challenges in supply chain and infrastructure development.
Customer preferences: The Fresh Fish Market in Eastern Africa is experiencing a growing demand for sustainably sourced and ethically caught seafood. As consumers become more aware of the environmental impact of their food choices, there has been a shift towards responsible and eco-friendly fishing practices. This trend is also influenced by cultural values and traditions that prioritize the preservation of natural resources and the importance of community-based fishing. Additionally, the rise of health-conscious consumers has led to a preference for fresh, locally caught fish over processed or imported options. This aligns with the growing trend towards a more plant-based diet and a focus on clean, nutritious food.
Trends in the market: In Eastern Africa, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably sourced and locally caught fish. This trend is driven by a growing consumer awareness of environmental and health concerns. Stakeholders in the industry are investing in sustainable fishing practices and promoting traceability in the supply chain. This trend is expected to continue, as consumers prioritize ethical and sustainable options, leading to potential growth opportunities for businesses in the region.
Local special circumstances: In Eastern Africa, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the region's coastal location and rich fishing traditions. This has led to a diverse range of fish species being sold, varying in taste and demand across different countries. Additionally, government regulations and trade agreements play a significant role in market dynamics, as they impact the availability and pricing of imported fish. Furthermore, cultural preferences for certain types of fish and methods of preparation also contribute to the unique characteristics of the market.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market is greatly impacted by macroeconomic factors in Eastern Africa. This includes the overall economic health of the region, as well as global economic trends, fiscal policies, and financial indicators. For example, countries with stable economies and favorable fiscal policies may see higher demand for fresh fish, as consumers have more disposable income to spend on food. Additionally, global economic trends such as increasing health consciousness and a growing middle class may also drive demand for fresh fish in the region. Overall, macroeconomic factors play a significant role in shaping the growth and performance of the Fresh Fish Market in Eastern Africa.
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)
