Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in Chad is experiencing slow growth due to various factors such as limited consumer awareness, inadequate infrastructure, and high costs. Despite this, the market is expected to gradually expand as digital technologies are adopted and health awareness increases. Online services may also help drive convenience for consumers.
Customer preferences: As consumers become more health-conscious, there has been a noticeable increase in demand for sustainably sourced seafood in the Fresh Seafood Market of the Fish & Seafood Market within The Food market. This trend is driven by a growing awareness of the impact of overfishing and unsustainable fishing practices on the environment. Additionally, there has been a shift towards locally sourced seafood, as consumers prioritize supporting small-scale and community-based fishing operations.
Trends in the market: In the Fresh Seafood Market of the Fish & Seafood Market within The Food market, there is a current trend of increased demand for sustainably sourced seafood. This trend is driven by consumer awareness of the environmental impact of overfishing and the desire for healthier, ethically sourced food. As a result, seafood markets are seeing a rise in certifications for sustainable fishing practices and an increase in demand for traceable, eco-friendly seafood. This trend is expected to continue as consumers become more conscious of their food choices and seek out sustainable options, posing both challenges and opportunities for industry stakeholders to adapt and innovate.
Local special circumstances: In Chad, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's geographical location. Being a landlocked country, Chad has limited access to fresh seafood, making it a highly desirable and sought-after commodity. Additionally, cultural factors play a significant role in the market, with seafood being a staple in the local cuisine. The lack of regulatory measures also plays a part, leading to a free and competitive market. These factors create a unique market dynamic, making the Fresh Seafood Market in Chad stand out from other markets.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is largely influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. In countries with robust economies and stable financial systems, the market tends to experience steady growth due to increased consumer spending power. Additionally, favorable governmental policies and investments in the seafood industry can boost market performance. On the other hand, economic downturns and unstable political climates can negatively impact the market, leading to decreased demand and sales. Furthermore, changing consumer preferences and health trends also play a role in shaping the market, as consumers increasingly seek out healthier and sustainable seafood options. These factors suggest that the Fresh Seafood Market is highly sensitive to macroeconomic conditions and requires a stable economic environment to thrive.
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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