Key regions: South Korea, Canada, China, Japan, United States
The Fresh Seafood Market within the Fish & Seafood Market of The Food market Worldwide has seen minimal growth due to various factors like limited availability of resources, decreasing consumer interest, and challenges in transportation and storage. Despite this, the market continues to thrive, driven by the convenience and health benefits of fresh seafood.
Customer preferences: As consumers become more health-conscious, there has been a rising demand for sustainably-sourced fresh seafood. This trend is driven by an increasing awareness of the environmental impact of food choices, and a growing preference for natural, unprocessed foods. Additionally, with the rise of online grocery shopping and home cooking, consumers are also seeking high-quality and diverse seafood options to incorporate into their meals. This has led to a growth in the availability of fresh seafood from around the world, catering to a wide range of palates and dietary preferences.
Trends in the market: In the global Fresh Seafood Market of the Fish & Seafood Market within The Food market, there is a growing trend of sustainable and traceable seafood products. Consumers are increasingly demanding transparency and accountability in the seafood industry, leading to the rise of certifications and labeling initiatives. This trend is expected to continue, with a focus on environmentally-friendly practices and ethical sourcing. This trajectory presents opportunities for industry stakeholders to differentiate their products and meet consumer demands, while also promoting sustainable practices and addressing concerns about overfishing and seafood fraud.
Local special circumstances: In the Fresh Seafood Market of the Fish & Seafood Market within The Food market, unique local factors play a significant role in market dynamics. For example, in Japan, the market is heavily influenced by cultural preferences for fresh and high-quality seafood, leading to a strong demand for premium products. In Norway, strict regulations on sustainable fishing practices have resulted in a reputation for high-quality and responsibly sourced seafood, which has boosted exports. Additionally, the tropical climate and diverse marine ecosystem in Southeast Asia have created a thriving market for a variety of seafood products. These factors contribute to the distinct characteristics of the global Fresh Seafood Market, making it a dynamic and competitive industry.
Underlying macroeconomic factors: The growth of the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. Countries with strong economic growth and stable fiscal policies are experiencing a higher demand for fresh seafood products, as consumers have more disposable income to spend on premium food items. Additionally, regions with a strong seafood culture, such as Southeast Asia and Europe, are driving the market growth as consumers prioritize fresh and sustainable seafood options. However, regions with economic instability and high import tariffs, such as Africa and South America, are facing challenges in the growth of their fresh seafood market. Furthermore, the growing trend of health-consciousness and the increasing demand for high-quality, nutritious food is also contributing to the growth of the fresh seafood market. As consumers become more aware of the benefits of consuming fresh seafood, the market is expected to continue its upward trajectory.
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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