Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market within The Food market in Europe has been experiencing minimal growth due to various factors such as changing consumer preferences, increasing competition from alternative protein sources, and strict regulations on fishing practices. Despite these challenges, the market continues to see a steady demand for fresh and sustainable seafood options.
Customer preferences: Consumers in Europe are becoming more conscious of the environmental impact of their food choices, leading to a growing demand for sustainably sourced fresh fish. This trend is also influenced by the increasing popularity of plant-based diets, as consumers seek to reduce their meat consumption. Additionally, there is a growing interest in local and seasonal fresh fish, as consumers prioritize supporting local fishermen and reducing the carbon footprint of their food. This shift towards sustainable and locally sourced fresh fish reflects a growing awareness of the importance of sustainable and ethical food options.
Trends in the market: In Europe, the Fresh Fish Market within the Fish & Seafood Market of The Food market is seeing a surge in demand for sustainable and traceable seafood products. Consumers are becoming more conscious of the environmental impact of their food choices and are seeking out ethically and sustainably sourced seafood. This trend is expected to continue as consumers prioritize sustainability and transparency in their purchasing decisions. Industry stakeholders must adapt to these changing consumer preferences and invest in sustainable sourcing practices to remain competitive in the market.
Local special circumstances: In Europe, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the continent's diverse coastal regions and rich fishing traditions. The availability of a wide variety of fresh seafood, from the Atlantic to the Mediterranean, has shaped the local cuisine and consumer preferences. Additionally, strict regulations and sustainability efforts have been put in place to protect the region's marine resources and promote responsible fishing practices. These factors have led to a strong demand for locally sourced, high-quality seafood in the European market, with consumers willing to pay a premium for traceable and sustainable products. Moreover, the European Union's Common Fisheries Policy has had a significant impact on the market, setting catch quotas and promoting sustainable fishing practices among member states. This has resulted in a highly competitive and dynamic market, with a focus on quality and sustainability, making Europe a leader in the global seafood industry.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market is significantly impacted by macroeconomic factors such as consumer demand, supply chain logistics, and international trade policies. In Europe, the market is largely driven by the increasing demand for healthier and sustainable food options, as well as the growing popularity of seafood in culinary cultures. Additionally, the market is influenced by the overall economic health of the region, as well as government policies and investments in the fishing industry. The European Union's Common Fisheries Policy, for instance, plays a critical role in regulating and managing the fishing activities in the region, which in turn affects the supply and pricing of fresh fish. Furthermore, the ongoing trade negotiations with other countries also have a significant impact on the market, as any changes in tariffs or trade agreements can greatly affect the availability and cost of fresh fish in the European 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.
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