Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market within the D-A-CH region is experiencing a slow growth rate due to factors such as limited availability of fresh seafood, fluctuating prices, and changing consumer preferences. Despite these challenges, the market is still driven by the increasing demand for healthy and sustainable food options.
Customer preferences: Consumers in D-A-CH are showing a growing interest in sustainable and ethically sourced seafood options, as awareness about overfishing and environmental impact increases. This has led to a rise in demand for certifications such as MSC and ASC, which guarantee sustainable fishing practices. Additionally, with increasing health-consciousness, there is a shift towards fresh, locally sourced seafood, as opposed to frozen or processed options. This trend is also influenced by the preference for supporting local businesses and reducing carbon footprint.
Trends in the market: In D-A-CH, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is seeing a shift towards sustainable and ethical sourcing practices. This trend is being driven by consumer demand for transparency and traceability in their seafood purchases. As a result, there is an increase in certifications and labels for responsibly sourced seafood. This trend is expected to continue, with companies investing in technologies to improve traceability and sustainability in their supply chain. This presents opportunities for industry stakeholders to differentiate themselves and meet consumer demands, but also poses challenges in terms of cost and implementation. Overall, this trend highlights the increasing importance of sustainability in the seafood industry and the need for companies to adapt to changing consumer preferences.
Local special circumstances: In D-A-CH, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the strong demand for sustainable and locally sourced seafood. This is due to the region's proximity to the sea and its strict regulations on fishing practices. Additionally, cultural preferences for fresh and high-quality seafood have led to the popularity of local fish markets and specialty seafood restaurants. These factors have created a unique market where consumers are willing to pay a premium for ethically and locally sourced seafood, driving growth in the market.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. Countries with stable economies and supportive policies for the seafood industry are experiencing faster market growth compared to regions with economic challenges and limited investment in seafood infrastructure. Additionally, the increasing demand for healthy and sustainable food options, coupled with the growing awareness of the health benefits of seafood consumption, are driving the demand for fresh seafood products in the market. As a result, countries with strong seafood production and export capabilities are expected to see significant growth in their Fresh Seafood Market.
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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