Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Jordan is experiencing minimal growth, influenced by factors such as low consumer awareness and limited availability of digital technologies in the sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood. Despite the convenience of online health services, the market is hindered by traditional purchasing habits and lack of technological infrastructure.
Customer preferences: In recent years, there has been a growing trend among consumers in Jordan to prioritize sustainability and ethical sourcing when it comes to their food choices. This has translated into a shift towards locally sourced fish and seafood products, as well as a preference for wild-caught over farmed options. With an increasing awareness of the environmental impact of overfishing, consumers are also seeking out sustainable seafood certifications, such as the Marine Stewardship Council (MSC) label, when purchasing seafood products. Additionally, there is a growing demand for eco-friendly packaging and reduced plastic use in the seafood market, as consumers become more mindful of their consumption habits and their impact on the environment.
Trends in the market: In Jordan, the Fish & Seafood Market is experiencing a shift towards sustainability and traceability. Consumers are increasingly concerned about the source and production methods of their seafood and are demanding more transparency from industry players. This trend is expected to continue, with government initiatives promoting sustainable fishing practices and the adoption of technology for traceability. These developments have significant implications for industry stakeholders, as they will need to adapt to meet consumer demands and comply with regulations. Additionally, the use of technology for traceability can improve efficiency and reduce costs for businesses.
Local special circumstances: In Jordan, the Fish & Seafood Market is heavily influenced by the country's location on the Red Sea, providing access to a wide variety of fresh seafood. Additionally, Jordanian culture places a strong emphasis on seafood in their cuisine, leading to a high demand for fish and shellfish in the market. The regulatory environment also plays a role, with strict standards for import and export of seafood products. These unique factors contribute to the dynamic growth of the Fish & Seafood Market in Jordan, setting it apart from other markets in the region.
Underlying macroeconomic factors: The Fish & Seafood Market within The Food market in Jordan is impacted by various macroeconomic factors. The country's economic health, global economic trends, and fiscal policies greatly influence the market's performance. For instance, countries with favorable regulatory environments and strong investment in seafood infrastructure are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for healthy seafood options and the growing population in Jordan are driving the market's growth. Moreover, the country's strategic location and trade agreements with neighboring countries also play a significant role in shaping the Fish & Seafood Market's performance within the broader Food Market industry.
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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