Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in the United Kingdom is experiencing minimal growth, influenced by factors such as changing consumer preferences, fluctuating fish stocks, and economic conditions. Despite this, the market continues to benefit from the convenience of online purchasing and the increasing demand for high-quality, sustainably sourced seafood.
Customer preferences: There is a growing demand for locally sourced and sustainably caught fresh fish in the United Kingdom. This trend is driven by consumer preferences for ethically and environmentally responsible food options, as well as a desire for high-quality, fresh ingredients. Additionally, there is a growing interest in traditional fishing methods and artisanal techniques, reflecting a shift towards supporting small-scale, community-based fishing operations. This trend is also influenced by the increasing popularity of seafood as a healthy and nutritious food choice.
Trends in the market: In the United Kingdom, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably sourced seafood. This trend is driven by consumer awareness of the environmental impact of overfishing and the desire for healthier and more ethically sourced food options. Additionally, there is a growing trend of online seafood delivery services, providing consumers with convenient access to a wider variety of fresh fish. These trends are significant for industry stakeholders as they must adapt to changing consumer preferences and invest in sustainable sourcing methods. This could also have implications for pricing and supply chain management in the future.
Local special circumstances: In the United Kingdom, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's rich fishing heritage and its strong demand for sustainable seafood options. The strict regulations on fishing practices and food safety standards also play a crucial role in shaping the market. Moreover, the country's location and climate create a unique environment for the production and consumption of various types of fresh fish, leading to a diverse market with a wide range of locally sourced options. This, combined with the increasing trend of consumers seeking healthier and more environmentally friendly food choices, has contributed to the growth of the Fresh Fish Market in the UK.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in the United Kingdom is greatly influenced by macroeconomic factors such as the country's overall economic health, consumer spending habits, and government policies. With the UK being a major player in the global seafood industry, the market is greatly impacted by fluctuations in global economic trends and trade policies. Additionally, the country's strong investment in sustainable fishing practices and seafood production technologies has helped drive market growth. However, potential challenges such as Brexit and changing consumer preferences towards plant-based diets could have a significant impact on the future performance of the market.
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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