Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in North Macedonia is experiencing minimal growth, impacted by factors such as consumer preferences for locally sourced seafood and limited access to digital technologies. Despite this, the convenience of online services and increasing health consciousness are driving the market forward.
Customer preferences: As consumers become more health-conscious, there is a growing demand for sustainably sourced and locally caught fish in the Fresh Fish Market of the Fish & Seafood Market within The Food market. This trend is driven by a growing awareness of the health benefits of consuming fresh, nutrient-rich seafood. Additionally, there is a shift towards supporting local fishermen and reducing the environmental impact of long-distance transportation. This has also led to an increase in demand for organic and wild-caught fish varieties.
Trends in the market: In North Macedonia, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a shift towards sustainable and eco-friendly practices. This trend is driven by consumer demand for ethically-sourced seafood and government initiatives to reduce overfishing. As a result, more seafood suppliers are investing in sustainable sourcing and certification. This trend is significant as it promotes environmental conservation and can lead to increased profitability for industry stakeholders. However, it may also result in higher prices for consumers. Additionally, the use of technology, such as blockchain, to track the origin of seafood products is gaining momentum, providing transparency and ensuring the integrity of the supply chain.
Local special circumstances: In North Macedonia, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's geography, with its access to the Adriatic Sea and the Ohrid Lake. This has resulted in a strong fishing industry and a wide variety of fresh, locally-sourced seafood options. Additionally, the country's cultural preference for seafood as a staple in their cuisine further drives demand in the market. Furthermore, strict regulations on fishing practices and food safety standards ensure high-quality and sustainable seafood products, making it a popular choice for both locals and tourists.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in North Macedonia is influenced by various macroeconomic factors. The country's economic health, global economic trends, fiscal policies, and other financial indicators play a crucial role in shaping the market's performance. For instance, a stable national economy with sound fiscal policies can lead to increased consumer spending and demand for fresh fish products. On the other hand, a struggling economy with weak consumer purchasing power can hinder market growth. Additionally, global economic trends, such as changes in trade policies or currency fluctuations, can also impact the market's supply and demand dynamics.
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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