Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Italy has been experiencing slow growth, influenced by factors such as declining consumption due to changing dietary preferences, strict regulations on fishing, and rising concerns about sustainability. The sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood have been particularly affected, with consumers opting for alternative protein sources. This trend is expected to continue in the future, impacting the overall market growth rate.
Customer preferences: Consumers in Italy are becoming increasingly health-conscious and are looking for sustainable and ethically sourced fish and seafood options. This trend is driven by a growing awareness of the environmental impact of overfishing and the importance of supporting local and small-scale fishermen. Additionally, there is a growing demand for organic and natural seafood, as consumers prioritize health and wellness in their food choices. This shift towards sustainable and ethical seafood choices is also reflected in the rise of certifications and labels that guarantee responsible fishing practices.
Trends in the market: In Italy, the Fish & Seafood Market is experiencing a rise in demand for sustainably sourced and traceable seafood products. This trend is driven by increasing consumer awareness of the environmental impact of fishing practices and the desire for transparency in the food supply chain. As a result, industry stakeholders are implementing sustainable sourcing practices and investing in traceability technology to meet consumer demands. This trajectory towards more sustainable and transparent practices is expected to continue, with potential implications for industry players who do not adapt to these changing trends.
Local special circumstances: In Italy, the Fish & Seafood Market is heavily influenced by the country's long coastline and strong fishing tradition. This has led to a focus on locally sourced and sustainable seafood options, as well as a preference for fresh over frozen products. Additionally, the Italian culture places a high value on traditional cooking methods and regional specialties, resulting in a diverse and dynamic seafood market that differs from other markets. The country also has strict regulations and quality standards for seafood, further shaping the market dynamics and consumer preferences.
Underlying macroeconomic factors: The Fish & Seafood Market in Italy is heavily influenced by macroeconomic factors such as consumer spending power, environmental regulations, and trade policies. With Italy being a major exporter of seafood, fluctuations in global demand and trade agreements can greatly impact the market. In addition, consumer preferences and health concerns, as well as government initiatives to promote sustainable fishing practices, also play a significant role in shaping the market. Furthermore, Italy's economic health and fiscal policies, such as taxes and subsidies, can affect production costs and ultimately, market prices. Overall, a combination of both global and national economic factors greatly influence the performance of the Fish & Seafood Market in Italy.
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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