Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Gabon is seeing minimal growth due to factors such as limited access to technology and low consumer health awareness. Online sales of Fresh Fish, Fresh Seafood and Processed Fish & Seafood are not yet prevalent, hindering market expansion. Additionally, high import costs and limited supply chain infrastructure are impacting the market's growth rate.
Customer preferences: As consumers in Gabon become more health-conscious, there has been a noticeable increase in demand for sustainably sourced fish and seafood products. This trend is driven by cultural values of promoting sustainability and protecting the environment. Additionally, with a growing middle class and changing dietary preferences, there is a shift towards consuming more seafood, which is perceived as a healthier protein source. This has led to a rise in sales of organic and locally sourced fish and seafood products.
Trends in the market: In Gabon, the Fish & Seafood Market is experiencing a shift towards sustainable fishing practices, with consumers demanding more responsibly sourced products. This trend is expected to continue, driven by growing concerns about overfishing and the need to preserve marine ecosystems. Additionally, there is a rising demand for value-added seafood products, such as ready-to-eat meals and frozen seafood, as consumers look for convenient and healthy food options. These trends present opportunities for industry players to diversify their product offerings and cater to changing consumer preferences. However, it also poses challenges for smaller operations that may struggle to meet the sustainability standards and invest in new technologies. Overall, the future of the Fish & Seafood Market in Gabon is likely to be shaped by a balance between meeting consumer demands and preserving the environment.
Local special circumstances: In Gabon, the Fish & Seafood Market is heavily influenced by its location on the west coast of Africa and its rich fishing industry. The country's diverse cultural heritage also plays a role, with traditional fishing methods still being practiced by many local communities. Additionally, the government's regulations on sustainable fishing practices have helped maintain the abundance of seafood in Gabon's waters. These factors contribute to the market's unique dynamics, making it a sought-after destination for seafood lovers.
Underlying macroeconomic factors: The Fish & Seafood Market within The Food market in Gabon is impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. As Gabon's economy is heavily reliant on the export of oil, fluctuations in global oil prices can significantly affect the country's overall economic performance. Additionally, Gabon's efforts towards economic diversification and investment in infrastructure, particularly in the agricultural sector, can also impact the growth of the Fish & Seafood Market. Moreover, changes in consumer behavior, particularly towards healthier and sustainable food choices, can also influence the performance of the market.
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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