Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in Africa has been experiencing mild growth, driven by factors such as increasing demand for fresh and healthy food options, rising disposable income, and the convenience of online seafood purchases. This growth is impacted by factors such as sustainable fishing practices, government regulations, and changing consumer preferences towards ethically sourced seafood.
Customer preferences: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is witnessing a growing demand for sustainably sourced seafood products. Consumers are becoming more conscious of the environmental impact of their food choices and are seeking out responsibly harvested seafood options. This trend is also influenced by cultural preferences for fresh and local seafood, as well as an increasing focus on healthy and nutritious diets. As a result, there has been a rise in the availability of certified sustainable seafood, as well as a demand for transparency and traceability in the supply chain.
Trends in the market: In Africa, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably sourced seafood. Consumers are increasingly conscious of the environmental impact of their food choices and are seeking out certified sustainable seafood options. Additionally, there is a growing trend of online seafood marketplaces, providing convenient access to a wider variety of fresh seafood. This shift towards sustainability and convenience has significant implications for industry stakeholders, as they must adapt their practices to meet consumer demands and capitalize on the potential growth opportunities in the online market.
Local special circumstances: In Africa, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the continent's rich coastal resources and traditional fishing practices. Additionally, factors such as inadequate infrastructure and limited access to technology have led to a predominantly local market, with a focus on fresh and sustainable seafood. Furthermore, regulatory efforts to promote sustainable fishing practices have also shaped the market dynamics, with an increased demand for responsibly sourced seafood.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. For instance, countries with stable economic conditions, supportive fiscal policies, and strong investment in the seafood industry are witnessing significant growth in the Fresh Seafood Market. In contrast, nations with economic challenges, regulatory barriers, and limited investment in the seafood sector are experiencing slower market growth. Furthermore, the rise in seafood consumption due to the increasing awareness about the health benefits of seafood and the growing demand for sustainable seafood is also driving the growth of the Fresh Seafood 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.
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)
