Fish & Seafood - Moldova

Moldova

Highlights

Revenue in the Fish & Seafood market amounts to US$228.90m in 2024. The market is expected to grow annually by 8.96% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$97bn in 2024).
In relation to total population figures, per person revenues of US$68.74 are generated in 2024.
In the Fish & Seafood market, volume is expected to amount to 13.20m kg by 2029. The Fish & Seafood market is expected to show a volume growth of 2.1% in 2025.0.
The average volume per person in the Fish & Seafood market is expected to amount to 3.5kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fish & Seafood Market in Moldova has been experiencing minimal growth, driven by factors such as increasing demand for fresh and processed fish and seafood, rising health consciousness among consumers, and the convenience of online purchasing. However, challenges such as limited access to technology and transportation infrastructure may be impacting the market's growth rate.

Customer preferences: As Moldova's seafood market continues to grow, there has been an increase in demand for sustainably sourced and ethically caught fish and seafood. Consumers are becoming more conscious of the environmental impact of their food choices and are looking for options that align with their values. This trend is also driven by the rising popularity of plant-based diets, as individuals seek to reduce their consumption of animal products. Additionally, there is a growing interest in exotic and unique seafood varieties, as consumers look for new and exciting flavors to add to their meals.

Trends in the market: In Moldova, the Fish & Seafood Market is experiencing an upward trend in the adoption of sustainable fishing practices. This trend is driven by a growing awareness of environmental issues and consumer demand for ethically-sourced seafood. As a result, industry stakeholders are investing in sustainable fishing methods and certifications, such as the Marine Stewardship Council (MSC) label. This trend is expected to continue, with potential implications for stakeholders including increased market competitiveness and improved reputation for sustainability.

Local special circumstances: In Moldova, the Fish & Seafood Market is heavily influenced by the country's close proximity to the Black Sea and the Dniester River, making it a prime location for fishing activities. Additionally, Moldova's rich cultural heritage, with a strong emphasis on traditional fishing techniques, has shaped the market's offerings. Government regulations also play a significant role in the market, with strict standards for fish and seafood imports and exports. These unique factors contribute to the market's dynamics, creating a demand for locally sourced and sustainable seafood options.

Underlying macroeconomic factors: The Fish & Seafood Market in Moldova is greatly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. As a small, developing country heavily reliant on agriculture, Moldova's economic stability greatly affects the demand for fish and seafood products. The country's GDP growth, inflation rates, and trade policies can all influence the purchasing power of consumers and the overall market performance. Furthermore, fluctuations in global fish and seafood prices, trade agreements, and supply chain disruptions can also impact the market in Moldova. As such, market players in the Fish & Seafood Market must closely monitor and adapt to these macroeconomic factors to remain competitive and sustain growth 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.