Key regions: Russia, South Korea, Canada, United States, Philippines
The Fish & Seafood Market in Morocco has seen minimal growth due to factors such as limited demand, high competition, and challenges in supply chain logistics. Despite this, the market is still driven by the convenience of online services and increasing health consciousness among consumers.
Customer preferences: The Fresh Fish Market in Morocco is experiencing a rise in demand for sustainably sourced seafood, as consumers become more environmentally conscious. This is reflected in the increased popularity of locally caught fish and a preference for smaller, independent fishermen over large commercial operations. Additionally, there is a growing interest in traditional Moroccan recipes and cooking methods, as consumers seek to connect with their cultural heritage through food. This trend is also seen in the popularity of open-air fish markets, which offer a more authentic and immersive shopping experience.
Trends in the market: In Morocco, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a shift towards sustainable and ethical sourcing practices. Consumers are increasingly demanding transparency in the supply chain and are willing to pay a premium for products that are responsibly caught or farmed. This trend is expected to continue, with the government implementing stricter regulations to ensure the sustainability of the fishing industry. This presents an opportunity for industry stakeholders to differentiate themselves through sustainable sourcing and to cater to the growing demand for ethical and environmentally-friendly products.
Local special circumstances: In Morocco, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's coastal location and rich fishing industry. The demand for fresh seafood is high, as it is a staple in Moroccan cuisine. However, cultural and religious factors also play a role in the market, as the country has a large Muslim population and many adhere to halal dietary restrictions. The government has implemented regulations to ensure the quality and safety of seafood products, further shaping the market dynamics. Additionally, the growing tourism industry in Morocco has also contributed to the market, with restaurants and hotels seeking a steady supply of fresh seafood for visitors.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Morocco is heavily impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. Morocco has a strong and stable economy, with a focus on agriculture and fisheries. The country's strategic location also allows for easy access to international markets, making it a major player in the global seafood trade. Additionally, the government has implemented policies to support and promote the growth of the seafood industry, such as investing in infrastructure and providing tax incentives. However, challenges such as limited access to credit and high production costs hinder the market's growth potential. Furthermore, the increasing demand for seafood products, both domestically and internationally, due to population growth and changing dietary preferences, is expected to drive the market forward.
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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