Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Rwanda has seen minimal growth due to various factors such as limited consumer awareness, lack of access to digital technologies, and limited availability of online services. Despite this, the market continues to evolve with new product offerings and increasing demand for fresh and sustainable seafood options.
Customer preferences: With the growing trend towards healthy and sustainable eating, consumers in Rwanda are increasingly seeking fresh, locally sourced fish. This has led to a surge in demand for fish markets that offer a wide variety of fresh fish options. Additionally, as consumers become more health-conscious, there has been a shift towards seeking information on the origin and quality of the fish they consume. This trend is also influenced by the cultural preference for fresh and locally caught fish, as well as the growing demand for sustainable seafood options.
Trends in the market: In Rwanda, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainable and ethically sourced seafood. Consumers are becoming more conscious of the environmental impact of their food choices and are seeking out products that are responsibly harvested. This trend is expected to continue, with industry stakeholders increasingly focusing on sustainable practices and certifications to meet consumer demand. Additionally, there is a rising interest in locally sourced fish as a way to support the local economy and reduce carbon footprint. This trend presents opportunities for small-scale fishers and could potentially lead to the growth of a thriving domestic market for fresh fish in Rwanda.
Local special circumstances: In Rwanda, the Fresh Fish Market of the Fish & Seafood Market within The Food market has been heavily influenced by geographical factors. Being a landlocked country, Rwanda has limited access to seafood resources, leading to a high demand for imported fish. This has resulted in the emergence of a vibrant market for fresh fish, with a focus on quality and sustainability. Additionally, the culture of fish consumption in Rwanda has also played a significant role in shaping the market, with fish being a staple food in many traditional dishes. This has led to a unique blend of local and imported fish products in the market, catering to the diverse palates of the Rwandan population.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Rwanda is affected by various macroeconomic factors, including the country's economic stability, global demand for seafood, and government policies. Rwanda's strong economic growth and stable political climate have created a favorable business environment for the seafood industry. Additionally, increasing global demand for seafood, particularly in developed countries, has led to a rise in exports and improved market performance. The government's focus on promoting sustainable fishing practices and investing in modern fishing infrastructure has also positively impacted the market. However, challenges such as climate change and fluctuating global prices can affect the profitability of the Fresh Fish Market in Rwanda.
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)
