Definition:
The Fresh Fish market covers all types of products made from fishes that have not been cooked, heated, dried, cured by brine, or processed in any way other than boning, cutting, comminuting, or freezing. Fresh, chilled, or frozen fish that have been farmed or harvested from freshwater or the ocean are included in the market.
Additional Information:
The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.
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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The Fresh Fish Market in Western Asia is experiencing minimal growth due to factors such as competition from traditional fish markets and lower consumer demand. Despite this, the market is still expected to see some growth as more consumers become health-conscious and seek out fresh, locally-sourced seafood options. Digital technologies and online services have yet to significantly impact this market.
Customer preferences: As the Western Asian region becomes increasingly urbanized, consumer preferences in the Fresh Fish Market of the Fish & Seafood Market within The Food market are shifting towards more convenient and sustainable options. This includes a growing demand for online seafood delivery services and a preference for locally sourced, ethically harvested fish. Additionally, there is a trend towards incorporating seafood into healthier diets, driven by a rising interest in fitness and wellness. These factors are shaping the market and influencing purchasing decisions.
Trends in the market: In Western Asia, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a surge in online sales, with more consumers turning to e-commerce platforms for their seafood purchases. This trend is expected to continue as more people prioritize convenience and safety amid the ongoing pandemic. Additionally, there is a growing demand for sustainable and traceable seafood, leading to an increase in certifications and labeling initiatives. This trend is significant for industry stakeholders as it presents opportunities for market growth and differentiation. However, it also poses challenges for smaller players who may struggle to meet the stringent requirements. As the market continues to evolve, it is crucial for stakeholders to adapt and innovate to stay competitive.
Local special circumstances: In Western Asia, the Fresh Fish market is heavily influenced by the region's strong fishing traditions and its close proximity to the Mediterranean Sea and the Indian Ocean. This has resulted in a wide variety of seafood options available in the market, including local specialties such as Persian saffron-infused fish dishes and Lebanese grilled fish. Additionally, strict regulations on sustainable fishing practices have been put in place, ensuring the availability of high-quality and responsibly sourced seafood. The local culture also heavily values fresh and locally sourced food, making the Fresh Fish market a popular choice for consumers.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily impacted by macroeconomic factors in Western Asia. Global economic trends, such as trade policies and consumer demand, greatly influence the supply and demand of fresh fish in the region. Additionally, national economic health and fiscal policies also play a crucial role. For example, countries with stable economies and supportive fiscal policies tend to have a higher demand for fresh fish, resulting in market growth. Furthermore, investments in infrastructure and technology, as well as regulatory support, can also contribute to market growth in Western Asia. Demographic factors, such as an increasing population and rising income levels, also play a role in driving demand for fresh fish in the region.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights