Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Slovakia is seeing minimal growth, impacted by factors such as increasing competition, changing consumer preferences, and limited supply. Despite this, the market is expected to continue its moderate growth due to the convenience and health benefits of fresh seafood.
Customer preferences: In Slovakia, the Fresh Fish Market of the Fish & Seafood Market within The Food market has seen a rise in demand for sustainably sourced fish and seafood products. This trend is driven by consumers' growing awareness of environmental issues and their desire for ethical and responsible food choices. Additionally, the increasing popularity of seafood-based diets and the rise of health-conscious consumers have also contributed to the growth of the market. As a result, there is a growing demand for certified organic and locally sourced fish and seafood products.
Trends in the market: In Slovakia, the Fresh Fish Market of the Fish & Seafood Market within The Food market is seeing a trend towards sustainable and locally sourced seafood. This is driven by consumer demand for environmentally friendly products and a desire for freshness and quality. This trend is expected to continue, with an increase in certifications and labeling for sustainable seafood. Additionally, there is a growing interest in online ordering and delivery of fresh seafood, providing convenience for consumers. These trends have implications for industry stakeholders, who may need to adapt their sourcing and distribution methods to meet changing consumer preferences.
Local special circumstances: In Slovakia, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's rich history of fishing and seafood consumption. The landlocked country relies on imports for most of its seafood, leading to a highly competitive market. Additionally, cultural traditions and preferences play a significant role in shaping consumer behavior, with certain seafood varieties being more popular than others. Strict regulations on food safety and sustainability also impact the market, leading to a focus on locally sourced and ethically caught seafood options.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Slovakia is strongly affected by macroeconomic factors such as economic stability, consumer purchasing power, and government policies. The country's stable economic growth and increasing disposable income have led to a rise in demand for high-quality and sustainably sourced fresh fish products. Furthermore, the government's efforts to promote sustainable fishing practices and support local fishermen have positively impacted the market. However, challenges such as fluctuating seafood prices, changing consumer preferences, and the impact of Brexit on trade agreements may affect the market's growth. As a result, market players are closely monitoring macroeconomic trends to make informed decisions and adapt to changing market conditions.
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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Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
