Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in Central & Western Europe is experiencing a negligible growth rate due to factors such as fluctuating consumer demand, changing regulations, and competition from alternative protein sources. Despite these challenges, the market is expected to see some growth in the coming years.
Customer preferences: In Central & Western Europe, consumer preferences in the Fresh Seafood Market of the Fish & Seafood Market within The Food market have shifted towards sustainably-sourced seafood. This trend is driven by growing awareness of environmental issues and a desire to support ethical and responsible fishing practices. Additionally, there has been an increase in demand for locally-sourced seafood, reflecting a preference for fresh and seasonal ingredients. These shifts in consumer preferences highlight a growing emphasis on sustainability and a desire for a closer connection to the source of their food.
Trends in the market: In Central & Western Europe, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably-sourced seafood. This is driven by increasing awareness and concern about overfishing and environmental impact. As a result, industry stakeholders are implementing more sustainable practices, such as responsible sourcing and traceability measures. This trend is expected to continue, with consumers becoming more conscious of the ethical and environmental implications of their seafood choices. This presents opportunities for companies to differentiate themselves by promoting their sustainable practices and offerings.
Local special circumstances: In Central and Western Europe, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the region's strong culinary traditions and demand for high-quality, sustainably-sourced seafood. Additionally, strict regulations on fishing practices and seafood imports have led to a significant focus on local, seasonal seafood. In countries like France and Italy, where seafood is a staple in the cuisine, there is a strong preference for wild-caught seafood over farmed. This has led to a thriving market for small-scale, artisanal fishermen who specialize in providing fresh, locally-sourced seafood to restaurants and markets. In contrast, countries like Germany and the UK have a higher demand for imported seafood, leading to a more diverse offering in the market. However, recent initiatives promoting sustainable and locally-sourced seafood have gained traction, further shaping the dynamics of the Fresh Seafood Market in this region.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors such as consumer income levels, economic growth, and consumer spending patterns. In Central & Western Europe, the market is primarily driven by the increasing demand for healthy and sustainable food options, as well as the growing popularity of seafood in the region. Additionally, government initiatives promoting sustainable fishing practices and investments in infrastructure are also supporting market growth. However, economic uncertainties and fluctuations in exchange rates may negatively impact market performance. Furthermore, changing consumer preferences towards plant-based alternatives and the rising cost of seafood production are also factors that could affect market 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.
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