Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Ireland is seeing minimal growth, influenced by factors such as consumer preferences for fresh and processed options, increasing health consciousness, and the convenience of online services. The sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood all play a role in shaping the overall market, with ongoing efforts to improve sustainability and traceability also impacting growth.
Customer preferences: Consumers in Ireland are increasingly shifting towards sustainable and ethically-sourced fish and seafood products. With a growing awareness of environmental issues, there is a demand for traceable and responsibly-sourced seafood options. Additionally, there is a trend towards incorporating more plant-based options into seafood dishes, driven by a rise in flexitarian and vegetarian diets. This shift is also influenced by a desire for healthier and more diverse meal options.
Trends in the market: In Ireland, the Fish & Seafood Market is experiencing a rise in demand for sustainable and locally sourced seafood. This trend can be attributed to a growing consumer awareness of the environmental impact of traditional fishing methods and a desire for fresher, healthier options. Additionally, there is a trend towards more value-added seafood products, such as ready-to-eat meals and pre-marinated seafood. This trajectory is significant for industry stakeholders, as it presents opportunities for innovation and differentiation in a competitive market. However, it also poses challenges for traditional seafood producers who may need to adapt their practices to meet consumer demands. Furthermore, the increasing popularity of plant-based diets may also have implications for the seafood market, as consumers seek out alternative protein sources. As such, industry stakeholders will need to closely monitor and respond to these trends in order to remain competitive in the evolving Fish & Seafood Market in Ireland.
Local special circumstances: In Ireland, the Fish & Seafood Market is heavily influenced by the country's rich fishing heritage and its unique geographical location surrounded by the Atlantic Ocean. The market also reflects the strong cultural tradition of seafood consumption in Ireland, with popular dishes such as fish and chips and seafood chowder. Additionally, the Irish government has implemented strict regulations to ensure sustainable fishing practices, which has had a significant impact on the market dynamics. This combination of factors has resulted in a thriving fish and seafood market in Ireland, with a strong emphasis on high-quality and sustainable products.
Underlying macroeconomic factors: The Fish & Seafood Market in Ireland is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. For example, a growing global demand for sustainable and ethically-sourced seafood is driving the growth of the market in Ireland, as the country has a strong reputation for high-quality seafood production. Additionally, favorable fiscal policies and investments in technology and infrastructure are supporting the development of innovative and efficient seafood production methods, further enhancing the market's growth potential. Furthermore, Ireland's strong economic performance and stable business environment make it an attractive market for foreign investors, which is expected to boost the overall performance of the Fish & Seafood Market in the country.
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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