Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in Eastern Africa is experiencing mild growth, driven by factors such as increasing demand for fresh and healthy food, growing awareness of sustainable fishing, and the convenience of online seafood purchases. This market is expected to continue its upward trend as consumers prioritize healthy and sustainable food choices.
Customer preferences: Consumers in the Fresh Seafood Market of the Fish & Seafood Market within The Food market are increasingly demanding sustainably sourced and ethically produced seafood. This trend is driven by a growing awareness of the environmental impact of fishing practices and the desire for transparency in the supply chain. Moreover, there is a growing preference for locally sourced seafood, as consumers prioritize supporting their local economy and reducing carbon footprint. This shift towards sustainable and local seafood is also influenced by cultural values and a desire for healthier and fresher food options.
Trends in the market: In Eastern Africa, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably sourced seafood. Consumers are increasingly concerned about the environmental impact of their food choices and are seeking out certified sustainable options. This trend is expected to continue, with a growing number of fisheries and aquaculture operations obtaining sustainability certifications. This has significant implications for industry stakeholders, as they will need to adapt their practices to meet these evolving consumer preferences and maintain a competitive edge in the market.
Local special circumstances: In Eastern Africa, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the region's vast coastline and strong fishing culture. Additionally, regulatory efforts to promote sustainable fishing practices have led to a rise in consumer demand for ethically sourced seafood. Furthermore, the growing tourism industry in the region has increased the demand for fresh seafood, creating new opportunities for market growth. This unique blend of cultural and regulatory factors sets the Eastern African market apart from other markets, driving its dynamic growth.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors such as changing consumer preferences, trade policies, and economic growth. Countries with strong economic growth and rising disposable incomes are driving the demand for fresh seafood, leading to market expansion. Additionally, favorable trade policies and the increasing popularity of international cuisine are boosting the import and export of seafood, stimulating market growth. However, challenges such as fluctuating seafood prices, environmental concerns, and supply chain disruptions due to the COVID-19 pandemic are hindering 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.
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)
