Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Norway is facing negligible growth due to various factors, such as declining fish stocks, strict regulations, and changing consumer preferences. Despite these challenges, the market is still driven by the convenience of online seafood services and the growing health awareness among consumers.
Customer preferences: The growing demand for sustainable and ethically sourced seafood is driving the consumer preference for locally caught and traceable fresh fish in Norway. This trend is further fueled by the increasing focus on health and wellness, with consumers seeking out high-quality, nutrient-rich seafood options. Additionally, the rise of online grocery shopping and meal delivery services has made it easier for consumers to access a wide variety of fresh fish products, catering to their busy and on-the-go lifestyles.
Trends in the market: In Norway, the Fresh Fish Market within the Fish & Seafood Market is experiencing a surge in demand for sustainably-sourced seafood. This trend is driven by increasing consumer awareness and demand for ethically-produced products. As a result, there is a growing presence of certifications for sustainable fishing practices, such as the Marine Stewardship Council (MSC). This trend is expected to continue and has significant implications for industry stakeholders, as they must adapt to meet consumer demands and maintain market competitiveness. Additionally, there is a rise in e-commerce platforms for fresh seafood, enabling consumers to easily access and purchase products directly from fishermen. This trend is expected to continue, providing convenience and accessibility for consumers, while also creating opportunities for small-scale producers to enter the market.
Local special circumstances: In Norway, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's long coastline and deep-sea fishing tradition. The cold, clean waters provide a natural habitat for a variety of high-quality fish species, making Norway a leading supplier of fresh seafood. Additionally, the country's strict regulations on sustainable fishing practices ensure the continued availability of these resources. This has led to a high demand for Norwegian seafood in both domestic and international markets, with a focus on premium, sustainably-sourced products.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Norway is also influenced by macroeconomic factors. The country's strong economy, stable political environment, and high disposable income levels contribute to the demand for high-quality fresh fish. Additionally, Norway's strict regulations and sustainable fishing practices ensure the availability of fresh and safe seafood products, which further drives market growth. Furthermore, the growing focus on healthy and sustainable food choices among consumers, along with the increasing popularity of Norwegian seafood in the global market, are expected to fuel the growth of the Fresh Fish Market in Norway.
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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