Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Greece is experiencing slow growth due to factors such as increasing competition, changing consumer preferences, and economic challenges. The sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood are impacted by the decline in consumer spending and rising production costs. As a result, the overall market growth rate is currently negligible. This is also influenced by the changing regulations and sustainability concerns within the fishing industry.
Customer preferences: As the demand for healthy and sustainable food options continues to rise, consumers in Greece are increasingly turning to locally sourced fish and seafood. This trend is driven by a growing appreciation for traditional Greek cuisine and a desire to support local fishermen and their communities. Additionally, there is a shift towards online purchasing, with more consumers opting for home delivery services for their seafood purchases. These changes reflect a shift towards a more conscious and convenience-driven lifestyle among Greek consumers.
Trends in the market: In Greece, the Fish & Seafood Market is experiencing a surge in demand for sustainable and locally sourced seafood. There is a growing trend of consumers prioritizing environmentally friendly and ethical practices, leading to an increase in certifications and regulations for the industry. This trajectory is significant as it presents opportunities for industry stakeholders to differentiate themselves and cater to conscious consumers. However, it also poses challenges for businesses to meet these standards while maintaining profitability. Additionally, the rise of e-commerce and online ordering for seafood is changing the traditional market dynamics and creating potential implications for small businesses and traditional fish markets.
Local special circumstances: In Greece, the Fish & Seafood Market thrives due to the country's geographic location surrounded by the Aegean, Ionian, and Mediterranean Seas. This allows for a wide variety of fresh and locally sourced seafood products, making it a staple in the Greek diet. Additionally, the strong cultural influence of seafood in traditional Greek cuisine and the strict regulatory standards for fishing and seafood production ensure high quality and safety for consumers. These factors contribute to the market's dynamic growth and popularity within The Food market.
Underlying macroeconomic factors: The Fish & Seafood Market in Greece is heavily influenced by macroeconomic factors such as economic growth, consumer spending, and government policies. With the country's recent economic recovery and increased consumer confidence, there has been a rise in demand for high-quality seafood products. Additionally, government initiatives promoting sustainable fishing practices and investment in modernizing the fishing industry have contributed to the growth of the market. The rising global demand for seafood and the country's strategic location as a gateway to Europe also play a significant role in driving the market's performance. However, challenges such as changing consumer preferences and fluctuating seafood prices have the potential to impact market growth in the future.
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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