Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Malta has seen a slow growth rate due to factors such as declining fish stocks, strict fishing regulations, and the rising preference for imported seafood. However, the market is still thriving due to the high demand for fresh and sustainable fish among health-conscious consumers.
Customer preferences: As consumers become more health-conscious, there has been a growing demand for sustainably sourced and locally caught fresh fish in the Fish & Seafood Market of The Food market in Malta. This trend is driven by a desire for healthier and more environmentally friendly food options. Additionally, there has been an increase in demand for online ordering and delivery services, as consumers look for convenient ways to purchase their seafood. This shift towards digital solutions is influenced by lifestyle changes and the need for convenience in today's fast-paced world.
Trends in the market: In Malta, the Fresh Fish Market of the Fish & Seafood Market within The Food market is seeing a rise in demand for sustainably sourced seafood due to increasing consumer awareness about ocean conservation. This trend is expected to continue as more restaurants and retailers prioritize sustainable seafood options. Additionally, there is a growing trend towards online seafood sales, allowing for easier access to a wider range of fresh fish. These trends highlight the importance of sustainable practices and the need for industry stakeholders to adapt to changing consumer preferences.
Local special circumstances: In Malta, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the island's geographical location in the Mediterranean Sea. This proximity to the sea allows for a wide variety of fresh and locally caught fish to be readily available in the market. Furthermore, the strong fishing culture and traditions in Malta have led to strict regulations and sustainable practices, ensuring the highest quality seafood for consumers. Additionally, the island's tourism industry contributes to the demand for fresh fish, as tourists are drawn to the unique and authentic seafood dishes available in the market.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Malta is impacted by macroeconomic factors such as consumer spending, tourism, and trade policies. As a small island nation heavily dependent on imports and exports, Malta's market performance is heavily influenced by global economic trends and trade agreements. The country's strong economic growth and stable political climate have attracted foreign investments, leading to increased consumer spending and demand for high-quality seafood products. Additionally, the thriving tourism industry in Malta has resulted in a higher demand for fresh fish in restaurants and hotels, contributing to the growth of the market. However, fluctuations in exchange rates and trade policies can significantly impact the market, highlighting the importance of stable macroeconomic conditions for the success of the Fresh Fish Market in Malta.
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)
