Fresh Seafood - Bosnia and Herzegovina

Bosnia and Herzegovina

Highlights

Revenue in the Fresh Seafood market amounts to US$15.55m in 2024. The market is expected to grow annually by 4.04% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$12bn in 2024).
In relation to total population figures, per person revenues of US$4.87 are generated in 2024.
In the Fresh Seafood market, volume is expected to amount to 434.50k kg by 2029. The Fresh Seafood market is expected to show a volume growth of 2.0% in 2025.0.
The average volume per person in the Fresh Seafood market is expected to amount to 0.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Seafood Market in Bosnia and Herzegovina is experiencing minimal growth, influenced by factors such as limited consumer awareness and lack of convenience in accessing seafood. Despite being a part of the larger Food Market, the Fresh Seafood Market struggles to keep up with the growth rate of other segments due to these challenges.

Customer preferences: In Bosnia and Herzegovina, there is a growing trend towards sustainable and locally sourced seafood, as consumers become more conscious of their environmental impact and seek out fresher and healthier options. This has led to an increase in demand for wild-caught seafood and a decrease in imports. Additionally, the rise of social media has made it easier for consumers to access information about the origin and sustainability of seafood, leading to more informed purchasing decisions.

Trends in the market: In Bosnia and Herzegovina, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for locally-sourced, sustainable seafood. This trend is driven by consumers' increasing awareness of the environmental impact of imported seafood and their preference for supporting local fishermen. As a result, there has been a rise in the number of seafood markets and restaurants offering a variety of locally-caught seafood options. This trajectory is significant for industry stakeholders as it presents new opportunities for market growth and diversification of products. However, it also poses challenges for traditional importers and distributors who may need to adapt their strategies to cater to these changing consumer preferences. Overall, this trend signals a shift towards a more sustainable and environmentally-conscious seafood industry in Bosnia and Herzegovina.

Local special circumstances: In Bosnia and Herzegovina, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's coastline and access to the Adriatic Sea. This allows for a wide variety of fresh seafood options, as well as a strong cultural tradition of seafood consumption. Additionally, the country's strict regulations on sustainable fishing practices have led to a high quality and environmentally-conscious market. These factors contribute to a unique market dynamic, with a strong emphasis on fresh, locally-sourced seafood.

Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market in Bosnia and Herzegovina is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The country's economic stability and growth play a significant role in determining consumer spending power and demand for seafood products. Furthermore, government policies and initiatives, such as trade agreements and subsidies, can impact the supply and pricing of seafood in the market. Additionally, rising health consciousness and changing dietary preferences are driving the demand for fresh and sustainable seafood products, creating opportunities for 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.