Key regions: South Korea, Canada, China, Japan, United States
The Fish & Seafood Market in New Zealand is experiencing minimal growth due to factors such as fluctuating consumer demand, limited supply, and increasing competition from imported seafood. Despite this, the market is expected to grow steadily in the coming years, driven by the rising popularity of healthy eating and the convenience of online seafood shopping.
Customer preferences: Consumers in New Zealand are increasingly prioritizing sustainability and ethical sourcing in their seafood purchasing decisions. This trend is driven by growing awareness of the environmental impact of fishing practices and the desire for transparency in the supply chain. As a result, there has been a rise in demand for certified sustainable and traceable seafood products. Additionally, with the rise of health-conscious consumers, there is a growing preference for fresh and minimally processed seafood, leading to an increase in sales of locally caught and wild-caught options.
Trends in the market: In New Zealand, the Fresh Seafood Market within the Fish & Seafood Market of The Food market is seeing an increase in demand for sustainable and locally-sourced seafood. Consumers are becoming more conscious of their food choices and are seeking out seafood options that are ethically and environmentally responsible. This trend is expected to continue as the country prioritizes sustainable fishing practices and promotes transparency in the seafood industry. Industry stakeholders will need to adapt their supply chains and marketing strategies to cater to this growing demand for sustainable seafood.
Local special circumstances: In New Zealand, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's geographical location and strong fishing industry. The abundance of clean, pristine waters surrounding the islands allows for a diverse range of high-quality seafood to be harvested. Additionally, the country's strong cultural appreciation for seafood and its traditional Maori roots further drives the demand for fresh, locally sourced seafood. Furthermore, strict regulatory measures ensure sustainable fishing practices, resulting in a market that prioritizes quality and sustainability. This unique combination of factors contributes to the strong and thriving Fresh Seafood Market in New Zealand.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market in New Zealand is influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. New Zealand's strong economic growth, stable political environment, and favorable regulatory framework have contributed to the growth of the market. Furthermore, rising consumer demand for healthy and sustainable food options, combined with the country's abundant marine resources, has driven the growth of the fresh seafood market in New Zealand. The increasing focus on environmental sustainability and responsible fishing practices has also influenced market growth, as consumers are increasingly choosing ethically sourced seafood products.
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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