Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in Montenegro has been seeing minimal growth, influenced by factors such as the increase in demand for healthy food options, growing awareness of sustainable fishing practices, and the convenience of online seafood purchases.
Customer preferences: With the rise of health and wellness trends, consumers are becoming more mindful of their seafood choices. This has led to a growing demand for sustainably sourced and traceable seafood products. Additionally, there is a shift towards purchasing seafood directly from local fishermen and small-scale producers, as consumers prioritize supporting local businesses and reducing their carbon footprint. This trend is also influenced by the growing awareness of the environmental impact of large-scale commercial fishing. As a result, there is a rising demand for fresh, locally caught seafood in the Fresh Seafood Market of the Fish & Seafood Market within The Food market.
Trends in the market: In Montenegro, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a growing demand for sustainably-sourced seafood. This trend is driven by consumers' increasing awareness of the importance of environmentally-friendly practices and their desire for healthier food options. As a result, industry stakeholders are investing in sustainable fishing practices and promoting transparency in their sourcing processes. This trend is expected to continue, with potential implications including increased competition among suppliers and the need for stricter regulations to ensure sustainable practices are being followed.
Local special circumstances: In Montenegro, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's coastal location and rich fishing traditions. The demand for fresh seafood is high among locals and tourists alike, leading to a thriving market. However, strict regulations on fishing and seafood exports have also played a role in shaping the market dynamics. Additionally, the country's diverse cultural influences, including Mediterranean and Balkan cuisines, have contributed to the variety of seafood offerings in the market. These unique factors make the Fresh Seafood Market in Montenegro 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 Montenegro is influenced by various macroeconomic factors. Global economic trends, such as fluctuations in seafood prices and demand, impact the market's performance. Additionally, the national economic health of Montenegro plays a significant role in determining the purchasing power of consumers and their ability to afford seafood products. Fiscal policies, including taxes and subsidies, also affect the market by influencing production costs and consumer prices. Other relevant financial indicators, such as inflation rates and exchange rates, can have a significant impact on the market's dynamics. Furthermore, the overall economic stability and growth of Montenegro can positively or negatively affect the Fresh Seafood Market, as it reflects the country's overall consumer confidence and spending patterns.
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)
