Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in Malta is experiencing slow growth due to factors such as limited availability of fresh seafood, strict regulations for fishing practices, and high costs of transportation. Despite these challenges, the market continues to thrive due to the growing demand for healthy and sustainable food options among consumers.
Customer preferences: The Fresh Seafood Market in Malta has seen a rise in demand for sustainably sourced and locally caught seafood, driven by consumers' increasing focus on environmental sustainability and supporting local businesses. Additionally, there has been a trend towards seeking out lesser-known and exotic seafood varieties, as well as a demand for ready-to-cook and value-added seafood products to cater to busy lifestyles. This shift in preferences reflects a growing interest in conscious consumption and convenience among consumers in the Fish & Seafood Market within The Food market.
Trends in the market: In Malta, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably sourced seafood. Consumers are increasingly conscious of the environmental impact of their food choices, leading to a rise in the availability of locally caught and responsibly harvested seafood. This trend is expected to continue, as consumers become more informed and prioritize sustainable options. This shift towards sustainability has implications for stakeholders, particularly seafood suppliers and retailers who must adapt to meet the demand for ethically sourced seafood. Additionally, it presents opportunities for businesses to differentiate themselves and cater to a growing market segment.
Local special circumstances: In Malta, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the island's location in the Mediterranean Sea. This geographical advantage allows for a wide variety of fresh seafood to be readily available, attracting both locals and tourists. The market also reflects the country's rich cultural heritage, with traditional seafood dishes being a staple in Maltese cuisine. Additionally, strict regulations on fishing practices and sustainability in the fishing industry contribute to the market's dynamics. This unique combination of factors makes the Fresh Seafood Market in Malta stand out from other markets in the region.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market in Malta is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The stability of the global economy and the strength of the Maltese economy have a direct impact on the demand for fresh seafood. Furthermore, fiscal policies and regulations that affect the fishing industry, such as quotas and subsidies, can significantly impact the availability and cost of fresh seafood. Additionally, consumer spending power, which is influenced by factors such as unemployment rates and inflation, can affect the purchasing behavior of consumers in the fresh seafood 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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
