Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in Jordan is experiencing minimal growth, influenced by factors like consumer preference for locally sourced seafood, government regulations, and the impact of COVID-19 on the fishing industry. Despite these challenges, the market is expected to see steady growth in the coming years as consumers continue to prioritize healthy and sustainable food options.
Customer preferences: As consumers become more health-conscious, there is a growing demand for sustainably sourced and organic seafood options in the Fresh Seafood Market. This trend is particularly prominent among younger generations, who are willing to pay a premium for environmentally-friendly and ethically-sourced seafood. Additionally, with an increasing focus on health and wellness, there has been a rise in demand for seafood with high levels of omega-3 fatty acids, known for their numerous health benefits.
Trends in the market: In Jordan, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a rise in demand for sustainable and locally sourced seafood. This trend is driven by consumers' growing awareness of the environmental impact of global seafood production and the desire for fresher, more nutritious seafood. This trajectory is significant as it presents opportunities for local fishermen and seafood businesses to cater to this demand and differentiate themselves in the market. However, there may be challenges in meeting this demand, such as access to sustainable fishing practices and transportation logistics. Industry stakeholders should consider investing in sustainable fishing methods and exploring partnerships with local farmers and suppliers to capitalize on this trend.
Local special circumstances: In Jordan, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is greatly influenced by the country's location near the Red Sea and the Mediterranean Sea. This allows for a diverse range of seafood options, including locally caught fish and imported varieties. Additionally, the cultural preference for fresh, high-quality seafood drives the demand for this market. The government also plays a role in regulating and ensuring food safety standards, further impacting market dynamics.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market in Jordan is influenced by macroeconomic factors such as government regulations, international trade policies, and consumer purchasing power. Jordan's economy is heavily reliant on imports, making it vulnerable to global economic trends and fluctuations. The country's fiscal policies and investment in infrastructure also play a significant role in market performance. Moreover, the growing health consciousness and demand for high-quality, nutritious seafood products are driving market growth in Jordan. However, challenges such as food safety regulations and supply chain disruptions can hinder market growth.
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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