Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood market in Niger is experiencing subdued growth due to factors such as limited infrastructure and distribution channels, as well as high costs of imported seafood products. However, with increasing consumer awareness and efforts to improve the market's infrastructure, there is potential for growth in the future.
Customer preferences: As consumer preferences continue to evolve, it is evident that there is a growing demand for locally sourced and sustainably harvested seafood in the Fresh Seafood Market of the Fish & Seafood Market within The Food market. This trend is influenced by the cultural attachment to traditional fishing practices and the desire for transparency in the supply chain. Additionally, there is an increasing interest in seafood that is free from additives and preservatives, as consumers become more health-conscious and prioritize natural and organic options.
Trends in the market: In Niger, 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 increasingly aware of the environmental impacts of their food choices and are seeking out seafood that is caught or farmed in an eco-friendly manner. This trend is expected to continue on a global scale, with a growing emphasis on traceability and transparency in the seafood supply chain. Industry stakeholders will need to adapt and implement sustainable practices to meet consumer demand and maintain a competitive edge.
Local special circumstances: In Niger, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is influenced by its geographical location as a landlocked country. This poses challenges for the transportation and availability of fresh seafood, leading to higher prices and limited options for consumers. Additionally, cultural preferences and religious beliefs, such as the preference for halal seafood, play a significant role in shaping the market. These factors create a unique market dynamic, with a focus on locally sourced seafood and traditional cooking methods.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. Countries with stable and growing economies, as well as favorable trade policies, are experiencing higher demand for fresh seafood. Additionally, the increasing awareness of the health benefits of consuming seafood and the growing trend of sustainable and ethical sourcing are also driving the growth of this market. On the other hand, countries with economic instability and high import tariffs are facing challenges in meeting the growing demand for fresh seafood, leading to higher prices and limited access for consumers.
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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