Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in Sudan is experiencing slow growth due to several factors, including limited access to technology, low consumer awareness about healthy eating, and lack of convenient online services. These challenges have resulted in a negligible growth rate for the market.
Customer preferences: 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 more conscious of the environmental impact of their food choices and are seeking out responsibly caught or farmed seafood options. This trend is also influenced by cultural traditions and preferences, as many people in Sudan have a strong connection to the ocean and its resources. Additionally, with a growing middle class and increased disposable income, there is a shift towards higher quality, premium seafood products.
Trends in the market: In Sudan, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing an increase in demand for sustainable and ethically sourced seafood products. This trend is driven by growing consumer awareness and concern for the environment and marine life. As a result, industry stakeholders are investing in sustainable fishing practices and certifications to meet this demand. This trajectory is significant as it not only addresses environmental concerns but also caters to the growing demand for ethical and healthier food options. However, this trend may also have implications for small-scale fishermen and traditional fishing communities who may struggle to meet the requirements for sustainability certifications, potentially impacting their livelihoods.
Local special circumstances: In Sudan, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's location along the Red Sea. This allows for a diverse range of seafood to be caught and sold, providing a unique selection compared to other markets. Additionally, Sudanese culture places a high value on fresh, locally sourced food, driving demand for seafood from the Red Sea. However, the market is also regulated by strict export regulations, limiting the availability of certain seafood products and influencing market dynamics.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is greatly impacted by macroeconomic factors such as international trade policies, global demand for seafood, and national economic health. As the global economy continues to grow, the demand for fresh seafood has also increased, leading to a rise in production and trade of seafood products. In countries with strong economies and favorable trade policies, the Fresh Seafood Market is experiencing significant growth. On the other hand, countries with weaker economies and limited trade opportunities are facing challenges in meeting the growing demand for fresh seafood, resulting in slower market growth. Moreover, government policies and investments in infrastructure to support the seafood industry also play a crucial role in shaping the market landscape.
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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