Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Hungary has seen minimal growth, influenced by various factors such as changing consumer preferences, fluctuating fish prices, and the impact of COVID-19 on the seafood industry. Despite this slow growth, the convenience of online fish markets and increasing health consciousness among consumers continue to drive the market forward.
Customer preferences: Consumers in Hungary are increasingly seeking fresh, locally sourced fish and seafood options, driven by a growing focus on health and sustainability. This trend is particularly pronounced among younger demographics, who prioritize eco-friendly and ethically-sourced food choices. Additionally, there is a growing demand for online purchasing and delivery options, as consumers look for convenient ways to access high-quality, fresh fish and seafood products. This shift towards environmentally conscious and convenient consumption patterns is expected to continue shaping the Fresh Fish Market of the Fish & Seafood Market within The Food market in Hungary.
Trends in the market: In Hungary, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a rise in demand for sustainable and locally sourced seafood. This trend is driven by increasing consumer awareness about the environmental impact of fishing practices and the desire for fresher and healthier options. As a result, there has been a surge in the number of small-scale and artisanal fish suppliers, as well as a growing interest in aquaculture. This trend is expected to continue, with potential implications for industry stakeholders such as fishermen, retailers, and consumers.
Local special circumstances: In Hungary, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's landlocked location and its rich history of fishing and aquaculture. The market is also affected by Hungary's strict regulations on fishing and aquaculture practices, which aim to protect the country's natural resources. These unique factors shape the market's dynamics, leading to a focus on locally sourced and sustainable fish and seafood products. Additionally, Hungary's strong culinary traditions and seafood consumption culture drive demand for high-quality and diverse seafood products.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Hungary is significantly impacted by macroeconomic factors such as the country's economic health and fiscal policies. Hungary's growing economy and stable financial indicators have resulted in increased consumer spending power, leading to higher demand for fresh fish and seafood. Additionally, the country's favorable regulatory environment and government support for the food industry have created a conducive market for the growth of the Fresh Fish Market. Furthermore, the rising health consciousness and preference for healthy and sustainable food options among consumers globally are also contributing to the growth of the Fresh Fish Market in Hungary.
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)
