Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in Ireland has seen limited growth due to factors such as fluctuating consumer demand, increasing competition from alternative protein sources, and changing consumer preferences for sustainable seafood options. Despite these challenges, the market continues to offer a diverse selection of high-quality, locally sourced seafood products for consumers to enjoy.
Customer preferences: Consumers in Ireland are becoming more conscious of the environmental impact of their food choices and are increasingly opting for sustainably sourced seafood. This trend is driven by a growing awareness of the importance of sustainable fishing practices and the impact of overfishing on marine ecosystems. Additionally, there is a rising demand for locally sourced seafood, as consumers prioritize supporting local businesses and reducing their carbon footprint. This has led to an increase in the availability of fresh, locally caught seafood in the market, satisfying the demand for both sustainability and locality.
Trends in the market: In Ireland, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is seeing a surge in demand for sustainable and locally sourced seafood. This trend is driven by a growing awareness of the environmental impact of the fishing industry and a desire for fresher, higher quality products. As a result, there has been an increase in the number of seafood markets and restaurants offering traceable and sustainable seafood options. This trajectory is significant as it reflects a shift towards more ethical and environmentally conscious consumption patterns. Industry stakeholders, such as fishermen and seafood suppliers, may need to adapt to these changing preferences in order to remain competitive in the market. Moreover, this trend may also present opportunities for new market entrants who specialize in sustainable and locally sourced seafood products.
Local special circumstances: In Ireland, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is influenced by the country's rich fishing heritage and its proximity to the Atlantic Ocean. The local culture places a strong emphasis on fresh, sustainable seafood, resulting in a market where consumers are willing to pay a premium for high-quality products. Additionally, Ireland's strict regulatory standards for seafood ensure that only the freshest and safest products make it to market. These factors contribute to the unique and thriving market for fresh seafood in Ireland.
Underlying macroeconomic factors: The growth of the Fresh Seafood Market of the Fish & Seafood Market within The Food market is also influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The market performance is heavily influenced by the overall economic climate of the country, with strong economic growth and stable fiscal policies leading to increased consumer spending and higher demand for fresh seafood products. Additionally, government support and investment in the seafood industry, as well as favorable trade agreements, can also impact the market's growth. The increasing awareness and demand for sustainable and healthy food options are also driving the growth of the Fresh Seafood Market in Ireland, as consumers are willing to pay a premium for high-quality, ethically sourced seafood.
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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