Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Zambia is seeing moderate growth, influenced by a combination of factors such as the availability of digital technologies, increasing health consciousness among consumers, and the convenience of online fish and seafood services. However, the growth rate is being impacted by various factors, including limited infrastructure and distribution channels, fluctuating fish stocks, and competition from other food markets.
Customer preferences: Consumers in Zambia are increasingly seeking fresh, locally sourced fish in response to growing concerns about the environmental impact of imported seafood. This trend is driven by a desire for sustainable and healthier food options, as well as a growing appreciation for traditional fishing practices. Additionally, as more consumers prioritize supporting local businesses, there has been a rise in demand for fresh fish from small-scale fishermen and fishmongers. This shift towards local and sustainable fish is also influenced by cultural values that prioritize community and connection to the land.
Trends in the market: In Zambia, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a rise in demand for sustainably-sourced fish products. This trend is driven by consumer awareness of the environmental and health impacts of overfishing and the use of harmful fishing methods. As a result, industry stakeholders are increasingly investing in sustainable fishing practices and certifications to meet this demand. This trajectory is significant as it promotes the long-term viability of the industry and the preservation of marine ecosystems. However, it also poses challenges for smaller fishers who may not have the resources to obtain certifications. Overall, the trend towards sustainability in the Fresh Fish Market has positive implications for both the industry and the environment.
Local special circumstances: In Zambia, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's geography. Zambia is known for its abundant water sources, such as the Zambezi River and Lake Kariba, which provide a steady supply of fresh fish. Additionally, the country's cultural preference for seafood has led to a thriving market for fresh fish. Furthermore, strict government regulations on fishing practices and import/export of seafood products also play a significant role in shaping the dynamics of the market.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Zambia is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. Countries with stable economic conditions and favorable fiscal policies are likely to experience higher demand for fresh fish, as consumers have more disposable income to spend on premium seafood products. Additionally, the growing emphasis on healthy and sustainable food options, combined with the rising popularity of seafood in international markets, is expected to drive the growth of the Fresh Fish Market in Zambia. Furthermore, investments in infrastructure and technology are crucial in enhancing the efficiency and competitiveness of the market, which is a key factor in stimulating market growth.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
