Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in Zimbabwe is seeing minimal growth, impacted by factors such as limited access to technology and low health awareness among consumers. However, the convenience of online services is driving some growth in the Fish & Seafood Market within The Food market.
Customer preferences: The growing popularity of sustainable and ethically sourced seafood has led to an increase in demand for locally caught and organic fresh fish in Zimbabwe. Consumers are also becoming more health-conscious, leading to a rise in demand for lean and protein-rich fish options. Additionally, with the rise of e-commerce and online shopping, consumers are increasingly turning to online fish markets for the convenience and wider variety of options. This trend is expected to continue as consumers prioritize quality, health, and convenience in their seafood purchases.
Trends in the market: In Zimbabwe, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a shift towards sustainable and environmentally friendly practices. This includes the use of alternative fishing methods and the promotion of locally sourced fish. In addition, there is an increasing demand for fresh, wild-caught fish as opposed to farmed fish. These trends are significant as they align with global efforts towards sustainability and have potential implications for industry stakeholders in terms of adapting to new practices and meeting consumer demand.
Local special circumstances: In Zimbabwe, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's landlocked location and limited access to water bodies. This has led to a unique reliance on imported seafood, resulting in higher prices compared to neighboring coastal countries. Additionally, stringent government regulations on fishing and trade have also impacted market dynamics, with restrictions on certain species and quotas affecting supply and demand. These factors have created a niche market for locally-sourced freshwater fish, which cater to the preferences of Zimbabwean consumers.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Zimbabwe is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. The country's economic growth and stability, as well as its trade policies and foreign investment, play a significant role in the performance of the market. Additionally, factors such as inflation rates, currency exchange rates, and income levels also impact the purchasing power and demand for fresh fish in Zimbabwe. Moreover, the growing awareness of the health benefits of consuming fresh fish and the increasing trend of including seafood in the diet are also contributing to the 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.
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Mon - Fri, 9am - 6pm (EST)
