Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in the United States is experiencing slow growth due to various factors like changing consumer preferences, fluctuating seafood prices, and competition from other protein sources. Despite this negligible growth rate, the market is driven by the convenience of online seafood shopping and increasing health consciousness among consumers.
Customer preferences: Consumers in the Fresh Fish Market of the Fish & Seafood Market within The Food market are increasingly seeking sustainable and locally sourced seafood options, driven by a growing awareness of the environmental impact of the fishing industry. This trend is also influenced by the rising interest in healthy and nutritious food choices, as well as the growing demand for transparency and ethical sourcing practices in the food industry. As a result, seafood retailers and restaurants are now offering more options for sustainably caught and locally sourced fish and seafood to cater to these consumer preferences.
Trends in the market: In the United States, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably sourced fish and seafood products. This trend is driven by consumers' increasing awareness of the environmental impact of fishing practices and the health benefits of consuming wild-caught fish. As a result, we are seeing a rise in the availability of certified sustainable seafood options in grocery stores and restaurants. This trend is expected to continue as consumers prioritize ethical and sustainable consumption, presenting opportunities for industry stakeholders to adapt and meet these demands.
Local special circumstances: In the United States, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by consumer preferences and regulations. The demand for sustainable and locally sourced seafood has increased, driving the growth of small-scale fisheries. Additionally, strict regulations on fishing practices and seafood labeling have been implemented to ensure food safety and protect endangered species. These factors have led to a dynamic and diverse market, with an emphasis on quality and sustainability.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in the United States is heavily influenced by macroeconomic factors such as consumer spending, economic growth, and trade policies. The US is the largest importer of seafood in the world, and the demand for fresh fish is driven by consumer preferences for healthy and sustainable food options. Furthermore, the increasing disposable income and changing dietary patterns of Americans have led to a higher consumption of fish and seafood. However, trade tensions and tariffs imposed on seafood imports can significantly impact the market, as the US relies heavily on imported fish to meet domestic demand. The ongoing COVID-19 pandemic has also had a significant impact on the market, with disruptions in supply chains and a decline in consumer spending on luxury items. As the US economy recovers, the demand for fresh fish is expected to rebound, driven by a growing focus on health and wellness and an increasing preference for locally sourced, sustainable food options.
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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