Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Mauritius has seen minimal growth due to various factors such as limited domestic demand, strict regulations on fishing, and competition from other food markets. However, increasing health awareness and convenience of online seafood shopping may drive future growth in the market.
Customer preferences: As the demand for healthy and sustainable food options continues to rise, there has been a noticeable shift towards locally sourced and organic fish and seafood in Mauritius. This trend is driven by a growing awareness of the environmental impact of overfishing and the desire for fresher and more nutritious options. Additionally, with the rise in health-conscious consumers, there has been an increase in demand for seafood that is free from hormones and antibiotics, further highlighting the importance of sustainable and ethical practices in the Fish & Seafood Market within The Food market.
Trends in the market: In Mauritius, the Fish & Seafood Market is experiencing a trend towards sustainable and ethical practices. Consumers are increasingly conscious of the environmental impact of their food choices and are demanding sustainably sourced seafood. This has led to a rise in certifications for responsible fishing and aquaculture practices. Additionally, there is a growing trend towards traceability and transparency in the seafood supply chain, with consumers wanting to know the origin and handling of their seafood. These trends have significant implications for industry stakeholders, as they must adapt and comply with these changing consumer preferences in order to remain competitive in the market. Failure to do so may result in loss of customers and damage to the reputation of the industry.
Local special circumstances: In Mauritius, the Fish & Seafood Market within The Food market is heavily influenced by the country's location as an island nation with a thriving fishing industry. The cultural preference for fresh seafood also plays a significant role in driving market demand. Additionally, the government's strict regulations on fishing and seafood exports ensure high-quality products. This, in turn, creates a competitive advantage for Mauritius in the international seafood market. Furthermore, the country's growing tourism industry has led to an increase in demand for seafood, creating opportunities for local suppliers to expand their businesses.
Underlying macroeconomic factors: The Fish & Seafood Market in Mauritius is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. The country's strong economic growth, stable political climate, and favorable investment policies have contributed to the growth of the Fish & Seafood Market. Additionally, the increasing demand for healthier food options and the growth of the tourism industry have also played a significant role in driving the market. However, challenges such as fluctuating seafood prices, environmental concerns, and supply chain disruptions can impact the market's performance. Overall, the market is expected to continue its growth trajectory due to the increasing demand for seafood and the government's efforts to promote sustainable fishing practices.
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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