Key regions: South Korea, Canada, China, Japan, United States
The APAC Fresh Seafood Market is experiencing minimal growth due to factors such as lower demand from restaurants and decreased seafood consumption in the region. Despite this, the market is still driven by increasing awareness of health benefits and convenience of online seafood shopping.
Customer preferences: In the APAC region, consumers are placing a growing emphasis on sustainable and ethical seafood options, leading to an increase in demand for traceable and responsibly sourced fresh seafood. This trend is driven by cultural values and a heightened awareness of the impact of overfishing on marine ecosystems. Additionally, the rise of health-conscious consumers is fueling demand for wild-caught, hormone-free, and organic seafood options, as individuals prioritize clean eating and sustainable food choices.
Trends in the market: In APAC, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is seeing a rise in demand for sustainable and traceable seafood products. This trend is driven by increasing consumer awareness and concern for the environment and food safety. As a result, seafood companies are implementing technologies such as blockchain to provide transparency and ensure the sustainability of their products. This trend is expected to continue, with consumers becoming more conscious of their seafood choices and demanding more responsible sourcing practices. This will require industry stakeholders to adapt and invest in sustainable practices to remain competitive in the market.
Local special circumstances: In the APAC region, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is influenced by unique local factors. For instance, in Japan, where seafood is a staple in the diet, there is a high demand for fresh and high-quality seafood. This has led to the development of advanced technology and strict regulations for seafood production and distribution. In Thailand, seafood is a significant part of the local cuisine, and the government has implemented strict measures to ensure food safety and traceability. These factors have a significant impact on market dynamics in the region.
Underlying macroeconomic factors: The growth of the Fresh Seafood Market within the Fish & Seafood Market is also influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Countries with strong economic growth and stable fiscal policies are experiencing higher demand for fresh seafood, as consumers have more disposable income to spend on premium food products. Additionally, countries with favorable trade policies and strong infrastructure for seafood production and distribution are also experiencing higher market growth. Furthermore, the increasing awareness of the health benefits of consuming fresh seafood and the rise in seafood consumption among health-conscious consumers are also significant factors driving market growth in the APAC 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.
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