Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in Israel is experiencing minimal growth, influenced by factors such as consumer preferences for locally sourced and sustainable seafood, stricter regulations on fishing practices, and an increasing focus on healthy and organic options. Despite this slow growth rate, the market is still driven by the convenience and accessibility of online seafood services.
Customer preferences: Consumers in Israel are increasingly demanding sustainable and ethically sourced seafood, driven by growing environmental consciousness and a desire for healthier food options. This has led to a rise in the popularity of locally caught and organic seafood, as well as a greater demand for traceable and certified products. Furthermore, there is a noticeable shift towards online seafood shopping, as consumers seek convenient and contactless options amidst the COVID-19 pandemic. This trend is expected to continue, with a growing number of consumers valuing transparency and sustainability in the Fresh Seafood Market.
Trends in the market: In Israel, the Fresh Seafood Market within the Fish & Seafood Market of The Food market is experiencing a surge in demand for sustainably sourced seafood. Consumers are becoming increasingly conscious of environmental and ethical concerns, and are seeking out options that prioritize sustainability. This trend is expected to continue as more consumers prioritize sustainability in their purchasing decisions. This presents an opportunity for industry stakeholders to differentiate themselves by offering sustainably sourced seafood and to cater to the growing demand for eco-friendly options. Additionally, with an increase in health-conscious consumers, there is a rising demand for fresh, high-quality seafood, creating an opportunity for industry players to expand their offerings and cater to this segment of the market.
Local special circumstances: In Israel, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's location on the Mediterranean Sea. This allows for a wide variety of fresh fish and seafood to be readily available. Additionally, the strong Jewish culture in Israel places a high value on consuming fresh and kosher seafood, leading to a strong demand for quality products. The Israeli government also has strict regulations in place for the fishing industry, ensuring sustainable practices and high food safety standards. These factors contribute to the unique dynamics of the Fresh Seafood Market in Israel.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market in Israel is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. Israel's strong economic growth and stable political environment have contributed to a favorable market for fresh seafood. Additionally, the government's investment in infrastructure and technology has improved the efficiency of the seafood supply chain, making it more competitive in the global market. Furthermore, the growing health consciousness among consumers and their increasing demand for high-quality, sustainable seafood is driving the growth of the fresh seafood market in Israel. Despite challenges such as rising labor costs and strict regulations, the market is expected to continue its positive trajectory in the coming years.
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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