Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Mauritius is experiencing minimal growth, influenced by factors such as changing consumer preferences and limited technological advancements. Despite this, the market remains a key player in The Food market, driven by the convenience and health benefits of fresh seafood.
Customer preferences: Consumers in Mauritius are showing a growing preference for sustainably sourced seafood, leading to an increase in demand for locally caught and organic fish. There is also a notable shift towards healthier eating habits, with more consumers seeking out fresh, low-fat fish options. This trend is influenced by the cultural value placed on fresh and natural food options, as well as an increasing awareness of the health benefits of incorporating seafood into the diet. Additionally, the rising number of health-conscious millennials in the country is contributing to the growth of the fresh fish market.
Trends in the market: In Mauritius, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a shift towards sustainable and eco-friendly practices. Consumers are increasingly demanding locally sourced and sustainably caught fish, leading to the rise of small-scale fishermen and community-supported fisheries. This trend also highlights the growing concern for ocean conservation and the impact of overfishing. For industry stakeholders, this trend presents opportunities for differentiation and premium pricing, but also requires investment in sustainable practices and supply chain transparency.
Local special circumstances: In Mauritius, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the island nation's geographical location surrounded by the Indian Ocean. This results in a wide variety of fresh and exotic seafood options, attracting both locals and tourists. Additionally, Mauritius has a strong cultural tradition of seafood consumption, with many dishes and festivals centered around fish. The government has also implemented strict regulations to ensure sustainable fishing practices, which has positively impacted the market dynamics by promoting environmental consciousness and preserving local fish populations.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Mauritius is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. As a small island nation heavily reliant on tourism, Mauritius' economy is greatly impacted by global economic conditions. Any downturn in the global economy can result in a decrease in tourist arrivals and subsequently, a decline in demand for fresh fish and seafood. Additionally, the country's economic health, as measured by indicators such as GDP and inflation, can affect consumer spending patterns and overall market performance. Fiscal policies, such as taxes and subsidies, can also influence the cost and availability of fresh fish in the market. Fluctuations in these factors can significantly impact the growth and profitability of the 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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