Key regions: Russia, South Korea, Canada, United States, Philippines
The Fish & Seafood Market in Egypt is experiencing minimal growth, influenced by factors such as limited consumer health awareness and lack of adoption of digital technologies. Despite the convenience of online services, the overall growth rate remains low.
Customer preferences: As the Egyptian population becomes more health-conscious, there has been a noticeable increase in demand for fresh, locally-sourced fish in the Fish & Seafood Market. This trend is driven by a growing preference for nutritious, organic options and a desire to support local businesses. Additionally, with the rise of social media and influencer culture, there has been a shift towards visually appealing seafood dishes, driving the demand for high-quality, aesthetically pleasing fish.
Trends in the market: In Egypt, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a rise in consumer demand for sustainably sourced fish, due to growing concerns about overfishing and environmental impact. This trend is expected to continue as consumers become more conscious of their food choices and seek out responsibly sourced options. This could have significant implications for industry stakeholders, as they may need to adapt their sourcing and marketing strategies to meet this demand. Additionally, there is a growing trend of online fish markets and delivery services, providing convenience and accessibility for consumers. This trajectory is likely to continue, leading to increased competition and potential opportunities for market expansion.
Local special circumstances: In Egypt, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's location along the Nile River and the Mediterranean Sea. This allows for a wide variety of local fish species to be caught and sold, creating a diverse market. Additionally, the cultural importance of seafood in Egyptian cuisine drives demand for fresh fish, leading to a thriving market. Furthermore, regulations on fishing and distribution play a significant role in market dynamics, ensuring the sustainability of the industry.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Egypt is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. With a growing population and a steady increase in disposable income, the demand for fresh fish and seafood in Egypt has been on the rise. Additionally, the country's favorable regulatory environment and ongoing investments in the fishing industry have contributed to the growth of the market. However, challenges such as fluctuating fish prices and limited access to funding for small-scale fishermen can hinder market growth. Moreover, Egypt's heavy reliance on imports for meeting its demand for fish and seafood poses a threat to the domestic 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)
