Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in the Nordics is experiencing a slow growth rate due to factors such as changing consumer preferences and increasing competition from other food markets. Despite this, the market continues to offer convenience and high-quality seafood options for consumers in the region.
Customer preferences: Consumers in the Nordics are becoming more health-conscious and are increasingly seeking sustainable and fresh fish options in the Fresh Fish Market of the Fish & Seafood Market within The Food market. The demand for locally sourced, organic, and low mercury fish has been on the rise, driven by a growing awareness of the health benefits and environmental impact of their food choices. Moreover, there is a growing trend of consumers preferring to purchase fish directly from fishermen or through community-supported fisheries, reflecting a desire for transparency and supporting local producers.
Trends in the market: In the Nordics, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably sourced seafood. This trend is driven by consumers' increasing concern for environmental sustainability and ethical sourcing. Additionally, there is a growing preference for locally caught fish, which supports small-scale fishermen and reduces transportation emissions. This trend is expected to continue, with industry stakeholders investing in sustainable fishing practices and promoting transparency in supply chains. This shift towards sustainability has the potential to attract eco-conscious consumers and create new market opportunities for stakeholders.
Local special circumstances: In the Nordics, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the region's strong fishing culture and abundance of natural resources. Additionally, strict regulatory standards ensure the highest quality and sustainability of fish products. This, coupled with the region's high consumer demand for fresh, locally sourced food, drives the market's growth. In contrast, other markets may not have the same level of access to fresh seafood or the same level of consumer demand, leading to different market dynamics.
Underlying macroeconomic factors: The Fresh Fish Market in the Nordics is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. Countries with strong economies and stable fiscal policies are experiencing higher market growth compared to those with economic challenges. Additionally, increasing consumer demand for healthy and sustainable food options is driving the growth of the Fish & Seafood Market within The Food market in the region. Moreover, the growing trend of health-consciousness and sustainability is also impacting the market positively, as consumers are willing to pay a premium for high-quality and sustainably sourced fish and seafood products. This trend is expected to continue in the future, further boosting the market growth.
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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