Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood market in Finland has shown minimal growth, influenced by factors such as the country's small population and limited seafood production. Despite this, the market has seen an increase in demand due to the growing trend of healthy and sustainable food choices among consumers. Additionally, the convenience of online seafood shopping has contributed to the market's growth.
Customer preferences: As consumers become more health-conscious, they are also looking for sustainable and ethically-sourced options in their food choices. This has led to a rise in demand for locally-sourced and organic fresh seafood in Finland. Additionally, there is a growing trend towards convenient and healthier meal options, such as pre-packaged seafood dishes and ready-to-eat sushi, as busy lifestyles and an increased focus on wellness drive consumer preferences. This shift towards sustainable and convenient seafood choices is also being fueled by the younger generation, who are more environmentally conscious and value transparency in food sourcing.
Trends in the market: In Finland, the Fresh Seafood Market within the Fish & Seafood Market of The Food market is experiencing a rise in demand for sustainably sourced seafood. This trend is driven by increasing consumer awareness of the environmental impact of overfishing and the need for responsible fishing practices. As a result, many companies are implementing sustainable sourcing strategies and certifications, such as the Marine Stewardship Council, to meet the growing demand for eco-friendly seafood. Additionally, there is a growing trend of using e-commerce and online delivery services to purchase fresh seafood, providing convenient and safe options for consumers during the ongoing pandemic. These trends are significant for industry stakeholders as they must adapt their practices to meet consumer demands for sustainable and convenient seafood options. Furthermore, companies that prioritize sustainable sourcing may have a competitive advantage in the market, as consumers are increasingly seeking out environmentally conscious products. However, this also presents challenges for smaller businesses that may struggle to obtain certifications and compete with larger, established companies. Overall, the trajectory of these trends suggests that sustainability will continue to be a key factor in the Fresh Seafood Market in Finland, and companies that prioritize this approach may see long-term success.
Local special circumstances: In Finland, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's geographical location surrounded by the Baltic Sea and the Gulf of Bothnia. This has led to a strong focus on sustainable fishing practices and a wide variety of locally caught seafood, such as salmon, herring, and cod. Additionally, Finnish culture places a high value on fresh and healthy food, further driving the demand for high-quality seafood products. The market is also regulated by strict food safety and environmental standards, ensuring the freshness and sustainability of the seafood sold.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market in Finland is influenced by various macroeconomic factors. These include the country's strong economic health, with a high GDP per capita and low unemployment rate, which leads to increased consumer spending on premium seafood products. Additionally, Finland's strategic location and well-developed transportation infrastructure contribute to its thriving seafood export industry. Moreover, the country's sustainable fishing policies and focus on environmental conservation attract consumers who are increasingly conscious of the source and sustainability of their food. Finally, the growing trend of healthy eating and demand for protein-rich diets has also fueled the demand for fresh seafood in Finland.
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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