Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market within the Fish & Seafood Market in Russia is experiencing considerable growth, driven by factors such as increasing demand for fresh seafood, growing health consciousness among consumers, and the convenience of online ordering. These factors have contributed to the market's rapid growth rate.
Customer preferences: As consumers become more health-conscious, there is a growing trend towards sustainably sourced, wild-caught fish in the Fresh Fish Market of the Fish & Seafood Market within The Food market. This has been driven by a growing awareness of the impact of industrial fishing practices on the environment. In addition, there is a growing demand for locally sourced fish, as consumers prioritize supporting small-scale, artisanal fishers over large corporations. This shift towards sustainable and local fish is also influenced by a desire for transparency and traceability in food sourcing.
Trends in the market: In Russia, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a shift towards sustainable and environmentally friendly practices. This includes the use of aquaculture and sustainable fishing methods to meet the growing demand for seafood. Additionally, there is a rising trend of online ordering and delivery services for fresh fish, as consumers seek convenience and safety in their seafood purchases. These trends are significant as they promote the long-term sustainability of the industry and cater to changing consumer preferences. Industry stakeholders should continue to invest in these practices to remain competitive in the market and meet the growing demand for fresh and sustainable seafood.
Local special circumstances: In Russia, the Fresh Fish Market within the Fish & Seafood Market of The Food market is heavily influenced by the country's vast coastline and abundance of freshwater lakes and rivers. The local culture also places a strong emphasis on fresh and high-quality seafood, resulting in a high demand for locally sourced fish. Additionally, government regulations and import restrictions on seafood products play a significant role in shaping the market, as Russia aims to boost its domestic fish production and reduce reliance on imports. These factors create a unique market environment that differs from other regions and impacts the overall dynamics of the Fresh Fish Market.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Russia is heavily impacted by macroeconomic factors. The country's economic health, fiscal policies, and global economic trends greatly influence market performance. For instance, a strong national economy and favorable fiscal policies can lead to increased consumer spending and higher demand for fresh fish. On the other hand, economic downturns and unstable fiscal policies can result in decreased consumer spending and lower demand. Additionally, factors such as trade agreements, currency fluctuations, and changes in government regulations can also significantly impact the market. Overall, a stable and growing economy, supportive fiscal policies, and favorable regulatory environment are crucial for the growth of the Fresh Fish Market in Russia.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
