Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in Eastern Europe is experiencing subdued growth due to factors such as limited consumer awareness and a slow adoption of digital technologies. Despite this, the market is expected to grow as online shopping and health consciousness continue to rise.
Customer preferences: As consumers in Eastern Europe become more health-conscious, there is a growing demand for sustainably sourced and fresh seafood. This trend is driven by a shift towards healthier and more diverse diets, with a focus on whole, nutrient-rich foods. Additionally, the rising popularity of international cuisines has led to an increase in demand for exotic and unique seafood options. This is also influenced by a growing interest in ethical and environmentally friendly food choices.
Trends in the market: In Eastern Europe, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a rise in demand for sustainably-sourced seafood. This trend is driven by increasing consumer awareness and demand for environmentally-friendly products. As a result, industry stakeholders are investing in sustainable fishing practices and certifications, which can have significant cost implications. Additionally, there is a growing trend towards e-commerce and home delivery of fresh seafood, providing convenience and safety for consumers. These trends are expected to continue, with potential implications for the future of traditional seafood markets and supply chain management.
Local special circumstances: In Eastern Europe, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is influenced by the region's unique geography, culture, and regulations. The proximity to the Black Sea and the Baltic Sea allows for a wide variety of fresh seafood options. Additionally, the local tradition of consuming seafood plays a significant role in driving market demand. Government regulations on fishing and aquaculture also impact the availability and pricing of seafood products. Furthermore, the market is affected by shifting consumer preferences towards sustainable and organic seafood, leading to the emergence of niche markets.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is also affected by macroeconomic factors in Eastern Europe. The region's economic health plays a crucial role in determining the market's performance. Countries with stable economic growth and strong investment in the seafood industry, such as Russia and Poland, are experiencing faster market growth compared to countries with economic challenges. Additionally, the global trend of increasing seafood consumption and the rising demand for sustainable and healthy food options are driving the growth of the Fresh Seafood Market in Eastern Europe.
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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