Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Lebanon is facing subdued growth due to various factors such as limited access to fishing resources and increasing competition from imported fish. Despite these challenges, the market is still witnessing growth driven by the rising demand for fresh, locally sourced seafood and the convenience of online purchasing options.
Customer preferences: With the rise of health-conscious consumers in Lebanon, there has been a noticeable increase in demand for sustainably sourced seafood in the Fresh Fish Market of the Fish & Seafood Market within The Food market. This trend is driven by a growing awareness of the impact of overfishing on the environment and a desire to support local fishermen. Additionally, there has been a shift towards more convenient and time-saving options such as pre-packaged and ready-to-cook seafood, catering to the busy lifestyles of urban dwellers.
Trends in the market: In Lebanon, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainable and locally-sourced seafood. This trend is driven by consumers' increasing awareness of the environmental impact of large-scale fishing operations and their desire for fresher and healthier options. As a result, many small-scale fishermen and local fish markets are seeing a boost in business. This trend is expected to continue, with potential implications for industry stakeholders such as government agencies and seafood suppliers who may need to adapt to meet this demand for sustainable and locally-sourced seafood.
Local special circumstances: In Lebanon, the Fresh Fish Market of the Fish & Seafood Market within The Food market is greatly influenced by the country's rich Mediterranean coastline, which provides a constant supply of fresh seafood. The strong fishing culture and traditions in Lebanon also contribute to the popularity of the market, with many consumers preferring locally caught fish. Additionally, strict regulations on fishing and seafood importation ensure high-quality and safe products, making the market a trusted source for consumers. These unique factors shape the market dynamics, making it a vibrant and competitive industry.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Lebanon is influenced by macroeconomic factors such as trade policies, consumer spending, and foreign investment. Lebanon's economy heavily relies on imports, with fish and seafood being a major commodity imported from neighboring countries. Therefore, any changes in trade policies or fluctuations in the currency exchange rate can significantly impact the availability and pricing of fresh fish in the market. Moreover, consumer spending patterns and overall economic health can also affect the demand for fresh fish, as it is considered a luxury item. Additionally, foreign investment in the country's fishing industry can drive growth and innovation in the market, leading to increased production and availability of a variety of fresh fish.
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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Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
