Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in Paraguay is experiencing subdued growth due to factors such as limited consumer awareness and lack of infrastructure. Despite this, the market is expected to grow steadily due to the rising demand for fresh and high-quality seafood in the country.
Customer preferences: In Paraguay's Fresh Seafood Market, there has been an increase in demand for sustainably-sourced seafood products, driven by cultural values of environmental conservation. Additionally, with a growing health-conscious population, there is a trend towards healthier dietary choices, leading to a rise in demand for fresh, high-quality seafood. This has also led to a shift towards online purchasing of seafood, as consumers seek convenience and safety amidst the ongoing pandemic. Furthermore, the use of e-commerce platforms to purchase seafood has also increased, reflecting a growing preference for digital solutions and contactless transactions.
Trends in the market: In Paraguay, 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 consumer awareness and concern for the environment, as well as government initiatives promoting sustainable fishing practices. As a result, industry stakeholders are focusing on implementing sustainable sourcing and production methods to meet consumer demands and stay competitive. This trend is expected to continue, with potential implications for the industry including increased investments in sustainable practices and a shift towards more environmentally-friendly packaging and labeling.
Local special circumstances: In Paraguay, the fresh seafood market is heavily influenced by its landlocked location and limited access to coastal areas. This creates a unique demand for locally sourced freshwater fish, such as surubí and pacú, which are popular in traditional Paraguayan cuisine. Additionally, the country's strong agricultural sector has led to the use of sustainable farming practices in the seafood industry, making it an attractive market for environmentally conscious consumers. However, strict government regulations on fishing and aquaculture can also pose challenges for businesses operating in this market.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is affected by macroeconomic factors such as global demand for seafood, national economic growth rates, trade policies, and consumer preferences. Countries with strong economic growth and increasing disposable incomes are driving demand for premium seafood products. Additionally, changes in trade policies and regulations, such as tariffs and quotas, can significantly impact both the supply and demand for seafood, affecting market performance. Moreover, consumer preferences for sustainable and ethically-sourced seafood are also shaping the market, as consumers become more conscious about supporting environmentally responsible practices.
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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