Fresh Seafood - North Macedonia

North Macedonia

Highlights

Revenue in the Fresh Seafood market amounts to US$11.30m in 2024. The market is expected to grow annually by 4.84% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$12bn in 2024).
In relation to total population figures, per person revenues of US$5.43 are generated in 2024.
In the Fresh Seafood market, volume is expected to amount to 248.80k kg by 2029. The Fresh Seafood market is expected to show a volume growth of 3.3% in 2025.0.
The average volume per person in the Fresh Seafood market is expected to amount to 0.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Seafood Market in North Macedonia has seen minimal growth, influenced by factors such as limited consumer awareness, lack of infrastructure, and low purchasing power. Despite this, online sales and health consciousness are driving some growth in the Fish & Seafood Market within The Food market.

Customer preferences: Consumers in North Macedonia are increasingly seeking fresh, sustainable seafood options, driven by a growing awareness of the benefits of a healthy diet and the impact of overfishing on the environment. This has led to a rise in demand for locally-sourced seafood, as well as a preference for organic and ethically-sourced products. Additionally, with the rise of social media and food influencers, there is a growing interest in unique and exotic seafood dishes, providing opportunities for innovative and diverse offerings in the Fresh Seafood Market.

Trends in the market: In North Macedonia, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a trend towards sustainable and environmentally-friendly practices. This includes a shift towards responsible fishing methods and the use of eco-friendly packaging. This trend is driven by consumer demand for ethically-sourced seafood and the growing awareness of the negative impact of overfishing on marine ecosystems. As a result, industry stakeholders are investing in sustainable practices to meet consumer demand and maintain long-term viability. Additionally, there is a rise in online seafood marketplaces, providing consumers with easy access to a variety of fresh and sustainably-sourced seafood. This trend is expected to continue, as consumers become more conscious of their seafood choices and seek out sustainable options. Industry stakeholders must adapt to these changes to remain competitive and meet the demands of environmentally-conscious consumers.

Local special circumstances: In North Macedonia, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's geographical location and cultural traditions. Being a landlocked country, seafood is not as readily available as in other markets, leading to a higher demand for imported seafood. Additionally, the local cuisine heavily relies on seafood, making it a staple in the diet of many Macedonians. These factors contribute to a unique market dynamic, creating opportunities for both local and foreign seafood vendors to cater to the demand for fresh seafood in the region.

Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market in North Macedonia is affected by various macroeconomic factors. The overall performance of the market is influenced by global economic trends, such as fluctuations in international trade, as well as the national economic health of the country. Fiscal policies, such as taxation and subsidies, also impact the market. Other relevant financial indicators, such as consumer spending and inflation, also play a role in market performance. Moreover, the country's investment in the fishing and seafood industry, as well as its regulatory environment, can greatly influence the growth of the market. Additionally, the demand for fresh seafood is also affected by the country's population demographics, with an aging population typically showing greater demand for healthy and high-quality 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.