Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood market in Mauritius is experiencing subdued growth, influenced by factors such as limited availability of fresh seafood, rising consumer health concerns, and competition from frozen seafood options. Despite this, the market is still seeing growth due to increasing demand from tourists and the growing trend of healthy food choices.
Customer preferences: Consumers in Mauritius are placing a greater emphasis on sustainability and responsible sourcing when it comes to their seafood purchases. This trend is fueled by a growing awareness of the environmental impact of overfishing and the importance of preserving marine ecosystems. As a result, there has been a rise in demand for locally sourced and traceable seafood, as well as a preference for certified sustainable seafood. Additionally, with a growing health-conscious population, there has been an increase in demand for fresh, wild-caught seafood as opposed to frozen or processed options.
Trends in the market: In Mauritius, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a rise in demand for sustainably sourced seafood. Consumers are becoming more conscious of their food choices and are seeking out options that align with their values. This trend is expected to continue, with a growing number of retailers and restaurants offering certified sustainable seafood options. This presents an opportunity for industry stakeholders to differentiate themselves and cater to this increasingly important consumer segment. Additionally, there is a growing trend of online seafood marketplaces, providing convenient access to a wider range of fresh seafood products. This trend is expected to continue, with more consumers turning to online channels for their seafood purchases. This presents opportunities for industry players to expand their reach and tap into new markets.
Local special circumstances: In Mauritius, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by its geographic location, with an abundance of fresh seafood available due to its proximity to the Indian Ocean. This has led to a strong emphasis on seafood in the local cuisine, making it a popular choice among tourists and locals alike. Additionally, the country's cultural diversity, with influences from Indian, Chinese, and European cultures, has created a unique blend of flavors in its seafood dishes. Furthermore, the government's strict regulations on sustainable fishing practices have ensured a steady supply of high-quality seafood, making it a reliable market for consumers.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market in Mauritius is greatly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. The country's strong economic growth and stable political climate have led to an increase in consumer purchasing power, resulting in a higher demand for premium seafood products. Moreover, favorable government policies and investments in The Food market have also contributed to the growth of the seafood market. Additionally, the rising awareness of the health benefits of consuming seafood has further boosted market demand. However, the recent COVID-19 pandemic has caused disruptions in the global supply chain, leading to a shortage of seafood products and impacting the market's 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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