Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market in Thailand is experiencing minimal growth due to factors such as limited resources, strict regulations, and changing consumer preferences. Despite these challenges, the market is still driven by the increasing demand for fresh and healthy seafood options.
Customer preferences: As consumers become more health-conscious, there has been a growing demand for fresh and sustainably-sourced seafood in Thailand's market. This trend is particularly evident among younger, urban populations who prioritize ethical and environmentally-friendly food choices. Additionally, there is a rising interest in clean and organic seafood options, driven by a desire for healthier and more natural food options. As a result, suppliers and retailers in the Fresh Seafood Market are increasingly offering a variety of locally-sourced, organic seafood products to cater to this growing trend.
Trends in the market: In Thailand, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainable and organic seafood products. This trend is driven by increasing awareness and concern for the environment and health among consumers. As a result, businesses are investing in sustainable fishing practices and offering more organic seafood options. This trajectory is significant as it reflects a shift towards more responsible and ethical consumption, and has implications for industry stakeholders to adapt and cater to this growing demand for sustainable seafood. Additionally, there is a rise in online seafood marketplaces, providing convenient access to a wider selection of fresh seafood products for consumers. This trend has the potential to reshape the traditional seafood market and create new opportunities for online retailers and delivery services.
Local special circumstances: In Thailand, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's location and tropical climate, which allows for a wide variety of fresh seafood options. Additionally, Thailand's rich fishing culture and traditions have led to a strong demand for fresh seafood in both domestic and international markets. However, the market is also heavily regulated, with strict quality standards and sustainability measures in place to protect the country's marine resources. This unique combination of factors has created a dynamic and thriving seafood market in Thailand that sets it apart from other markets in the region.
Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market in Thailand is highly influenced by macroeconomic factors. With the country's strong economic growth and stable national economy, there is a growing demand for high-quality seafood products. Additionally, Thailand's favorable regulatory environment for the seafood industry and investments in modern fishing techniques have led to an increase in seafood production and exports. Moreover, the rising global demand for sustainable and organic seafood has also contributed to the growth of this market in Thailand. The country's strategic location and well-developed transportation infrastructure have further facilitated the export of fresh seafood products to other countries. As the global population and demand for seafood continue to rise, Thailand's Fresh Seafood Market is expected to experience continued growth and expansion.
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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