Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Tanzania is seeing minimal growth due to various factors such as limited access to technology, low health awareness, and challenges in distribution. These hindrances are impacting the market's growth rate, making it difficult for online services to gain traction.
Customer preferences: The rising popularity of sustainable and locally sourced seafood has led to a shift towards small-scale fisheries in Tanzania. This trend is driven by consumer demand for ethically and environmentally responsible products, as well as a desire for fresher and more diverse fish options. Additionally, the growing health and wellness movement has increased the demand for nutrient-dense seafood, leading to a rise in sales of wild-caught fish and seafood products. This shift towards conscious consumption is also influenced by the cultural preference for fresh, whole fish in Tanzanian cuisine.
Trends in the market: In Tanzania, there is a growing trend in the Fresh Fish Market of the Fish & Seafood Market within The Food market towards sustainable fishing practices and certifications. This trend is driven by increasing consumer demand for ethically sourced seafood and is being supported by government initiatives to promote sustainable fishing. As a result, more industry stakeholders are seeking certifications such as Marine Stewardship Council (MSC) to demonstrate their commitment to sustainable practices. This trajectory is significant for both the industry and the environment, as it ensures the long-term viability of the fish and seafood market in Tanzania while also protecting marine ecosystems. However, the certification process can be costly and time-consuming for small-scale fishermen, potentially leading to consolidation in the market. This trend also presents opportunities for companies that offer sustainable fishing solutions and consulting services, as well as for retailers and restaurants that can market their certified seafood products to conscious consumers.
Local special circumstances: In Tanzania, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's geographical location and rich coastal waters. The market is driven by the traditional fishing practices of local communities, providing a unique supply of fresh and diverse seafood products. Additionally, the country's cultural preference for seafood as a staple food has created a strong demand for fish in the market. However, regulations and inadequate infrastructure for transportation and storage pose challenges for the market's growth, leading to a reliance on local buyers and limited export opportunities.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Tanzania is impacted by various macroeconomic factors. The country's economic growth, inflation rates, fiscal policies, and trade regulations all play a role in shaping the market. Additionally, global economic trends, such as changes in consumer preferences and international trade agreements, have a significant influence on the market. The country's GDP growth rate, foreign investment levels, and government initiatives to promote the seafood industry also impact market performance. Furthermore, factors such as population growth, urbanization, and changing dietary habits also contribute to the demand for fresh fish in Tanzania.
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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