Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in Japan has seen slow growth due to factors such as strict regulations on fishing, declining fish stocks, and changing consumer preferences towards plant-based diets. These challenges have impacted the market's growth rate, which is currently negligible. Despite this, the market continues to offer high-quality and diverse seafood options to meet the demand of health-conscious consumers.
Customer preferences: As consumers in Japan become more health-conscious, there has been a noticeable shift towards sustainable and ethically-sourced seafood options in the Fresh Seafood Market. This trend is driven by a growing awareness of the environmental impact of overfishing and a desire to support local fisheries. Additionally, there has been an increase in demand for traceable seafood products, with consumers valuing transparency and authenticity in their food choices. This has led to the rise of online platforms that connect consumers directly with small-scale fishermen, promoting a more direct and sustainable supply chain.
Trends in the market: In Japan, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainable and traceable seafood. This trend is being driven by consumers' increasing awareness of the environmental impact of overfishing and their preference for locally-sourced and ethically-caught seafood. As a result, seafood companies are investing in sustainable fishing practices and implementing traceability systems to meet consumer demands. This trend is expected to continue, as consumers become more conscious of their seafood choices and seek out transparent and ethical options. Industry stakeholders, such as seafood suppliers and retailers, will need to adapt to these changing consumer preferences and invest in sustainable and traceable seafood to remain competitive in the market.
Local special circumstances: In Japan, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's geography and cultural practices. With its long coastline and rich marine biodiversity, Japan has a strong tradition of seafood consumption. This, coupled with the country's strict regulations for fishing and seafood safety, has created a market that prioritizes quality and sustainability. Additionally, the popularity of sushi and other raw seafood dishes in Japanese cuisine has further bolstered the demand for fresh and high-quality seafood, leading to a thriving market for suppliers and retailers.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The market growth is affected by the overall health of the economy, as well as government policies that impact production, trade, and consumption of seafood. Additionally, fluctuations in currency exchange rates, inflation, and interest rates can also have a significant impact on the market. Furthermore, the increasing demand for sustainable and organic seafood, coupled with rising concerns over food safety and traceability, are shaping the market landscape. As a result, countries with strong economic growth, stable fiscal policies, and favorable regulatory environments are likely to experience faster market growth in the Fresh Seafood Market of the Fish & Seafood Market within The Food market.
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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