Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Turkmenistan is experiencing minimal growth, impacted by factors such as limited access to technology, low health awareness, and the preference for traditional fish markets. Despite this, online services are slowly gaining popularity due to the convenience they offer.
Customer preferences: As the demand for fresh and healthy food options continues to rise, consumers in Turkmenistan are increasingly turning towards locally sourced and sustainably caught seafood. This trend is driven by a growing awareness of the benefits of a balanced and nutritious diet, as well as a desire to support local fisherman and promote environmental sustainability. Additionally, with the rise of social media and online food communities, consumers are also seeking out unique and exotic seafood options, incorporating them into their daily meals and showcasing them on their social platforms.
Trends in the market: In Turkmenistan, there is a rising demand for fresh fish in the Fish & Seafood Market within The Food market. This trend is driven by the country's growing economy and increasing consumer preference for healthier food options. As a result, there has been a surge in investments towards modernizing fish farms and improving the supply chain. This trend is expected to continue, with industry stakeholders focusing on sustainable practices and adopting technology to meet the growing demand. In addition, there is a potential for export growth, as the country looks to expand its presence in the global seafood market.
Local special circumstances: In Turkmenistan, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by its geographical location, surrounded by the Caspian Sea and the Aral Sea. This results in a diverse range of fish and seafood available, including sturgeon, carp, and catfish. Additionally, the country's strong fishing industry and traditional fishing methods contribute to the unique offerings in the market. Furthermore, Turkmenistan's strict regulations on fishing and sustainable practices have led to a reputation for high-quality and sustainably sourced seafood, making it a sought-after destination for seafood enthusiasts.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Turkmenistan is greatly impacted by macroeconomic factors such as the country's overall economic stability, government policies, and international trade. Turkmenistan's economy heavily relies on its natural gas exports, which has a significant impact on the country's overall economic health. Fluctuations in global gas prices and demand greatly affect the country's economic performance and, consequently, the purchasing power of consumers in the Fresh Fish Market. Additionally, government policies and regulations, such as import and export restrictions, can also impact the availability and prices of fresh fish in the market. Furthermore, the country's investment in infrastructure, particularly in the transportation and storage of seafood products, can greatly influence the efficiency and supply of fresh fish in the market. These macroeconomic factors play a crucial role in shaping the performance and growth of the Fresh Fish Market in Turkmenistan.
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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