Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in the Baltics has seen minor growth due to factors such as increasing demand for healthy food options, growing awareness of sustainable fishing practices, and the convenience of online seafood purchases. However, this growth rate may be impacted by factors such as overfishing and environmental concerns.
Customer preferences: In the Baltics and Fresh Seafood Market of the Fish & Seafood Market within The Food market, consumers are increasingly prioritizing sustainable and ethically sourced seafood options. This trend is driven by a growing awareness of the environmental impact of overfishing and the desire to support local fishermen and businesses. Additionally, there is a rising demand for transparent and traceable seafood products, highlighting the importance of certifications and labeling in the seafood industry. As a result, retailers and suppliers are adapting to meet these consumer preferences by offering a wider range of sustainably sourced seafood options and promoting responsible fishing practices.
Trends in the market: In the Baltics, the Fresh Seafood Market within the Fish & Seafood Market of The Food market is seeing a rise in demand for sustainably sourced seafood. Consumers are becoming more conscious of their environmental impact and are seeking out responsibly caught or farmed seafood options. This trend is expected to continue, with consumers increasingly valuing transparency and ethical practices in the seafood industry. As a result, industry stakeholders will need to adapt to these changing consumer preferences in order to stay competitive and meet the demand for sustainable seafood options. This may involve implementing new sourcing practices and promoting transparency in their supply chain.
Local special circumstances: In the Baltics, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the region's proximity to the Baltic Sea. This allows for a steady supply of freshly caught seafood, making it a popular choice among locals and tourists alike. Additionally, the cultural tradition of consuming seafood has also contributed to the growth of this market. Moreover, the strict regulations and certifications for sustainable fishing practices in the region have also played a significant role in shaping market dynamics.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is greatly impacted by macroeconomic factors. Global trends, national economic health, fiscal policies, and other financial indicators all play a crucial role in the market's performance. Countries with strong economic growth and stable fiscal policies are experiencing faster market growth compared to regions with economic challenges and limited investment in the seafood industry. Additionally, increasing consumer demand for healthy and sustainable food options is driving the growth of the Fresh Seafood Market in the Baltics, as these countries have favorable regulatory environments and are investing in sustainable fishing practices. The growing awareness of the health benefits of seafood consumption and the rising popularity of seafood in the culinary industry are also contributing to the market's growth 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.
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)
