Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in North America is experiencing minimal growth due to factors such as limited availability of fresh seafood, strict regulations on fishing, and increasing consumer preference for plant-based diets. Despite this, the market is expected to continue growing slowly due to the high demand for quality seafood in the region.
Customer preferences: Consumers in North America are becoming more health-conscious and seeking out fresh and sustainable seafood options. This trend is driven by a growing awareness of the negative environmental impact of the fishing industry, as well as concerns about overfishing. Additionally, there is a rise in demand for locally sourced and traceable seafood, reflecting a desire for transparency and supporting local businesses. This shift in consumer preferences has led to an increase in sales of certified sustainable seafood and a decline in sales of imported and farmed seafood.
Trends in the market: In North America, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainably sourced seafood products. This trend is driven by a growing consumer awareness of the environmental impact of fishing practices and the desire for healthier, cleaner seafood options. As a result, industry stakeholders are investing in sustainable fishing methods and certifications to meet this demand. This trend is expected to continue, with potential implications including increased competition for sustainable seafood sources and the need for stricter regulations to ensure sustainable practices are being followed.
Local special circumstances: In North America, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the region's vast coastline and strong fishing industry. This allows for a wide variety of fresh and local seafood options, catering to the growing demand for sustainable and locally sourced food. Additionally, strict regulations and certifications for seafood ensure high quality and safety standards, further driving consumer preference and market growth.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is largely influenced by macroeconomic factors such as consumer spending patterns, trade policies, and global seafood supply and demand. Countries with strong economic growth and a high demand for seafood, such as the United States and Canada, are expected to drive market growth. Additionally, regulatory support, sustainable fishing practices, and investments in aquaculture infrastructure are also key factors influencing market performance. The rising prevalence of health-conscious consumers and the increasing popularity of seafood as a healthy protein source are also expected to drive market growth in North America.
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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