Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Finland has seen a slow growth rate, impacted by factors such as limited consumer demand, increased competition, and fluctuating fish prices. Despite this, the market shows potential for growth with advancements in technology and consumer health awareness.
Customer preferences: With the rise of health consciousness and sustainable living, there has been a growing demand for locally sourced and traceable seafood in the Fresh Fish Market of the Fish & Seafood Market within The Food market. This trend is driven by consumers' desire for transparency and ethical consumption practices. Additionally, with the increasing awareness of the health benefits of seafood, there has been a shift towards incorporating more seafood in diets, leading to an increase in demand for fresh, high-quality seafood.
Trends in the market: In Finland, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a rise in demand for sustainably sourced seafood, as consumers become more environmentally conscious. This trend is expected to continue as consumers prioritize ethical and sustainable practices in their food choices. Industry stakeholders are also seeing an increase in e-commerce sales, as consumers look for convenient and contactless options to purchase fresh fish. This has led to the emergence of online marketplaces and delivery services in the country, providing opportunities for new players to enter the market. Additionally, there is a growing trend of using blockchain technology to track the origin and quality of seafood, ensuring transparency and traceability for consumers. These trends highlight the importance of sustainability and technology in the Fresh Fish Market of Finland, and industry stakeholders must adapt to meet the changing demands of consumers.
Local special circumstances: In Finland, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's geographic location. Being surrounded by the Baltic Sea and numerous lakes, Finland has a strong fishing industry, providing access to a wide variety of fresh fish. Additionally, the country's strong cultural tradition of consuming fish has further fueled the growth of the market. In terms of regulations, Finland has strict standards for seafood quality and safety, ensuring that consumers have access to high-quality and sustainable products. These factors contribute to the unique dynamics of the Fresh Fish Market in Finland, setting it apart from other markets globally.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Finland is greatly influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. Finland's strong economic performance and stable political environment have contributed to the steady growth of The Food market, including the fresh fish market. The country's abundant natural resources and advanced fishing industry have also played a significant role in the demand for fresh fish. Moreover, Finland's commitment to sustainable fishing practices and strict regulations on seafood imports have bolstered consumer confidence and increased the demand for locally sourced fish. Additionally, the increasing health consciousness among consumers and the rising popularity of the Mediterranean diet have further fueled the demand for fresh fish in Finland.
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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