Fish & Seafood - North Macedonia

North Macedonia

Highlights

Revenue in the Fish & Seafood market amounts to US$199.60m in 2024. The market is expected to grow annually by 3.74% (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$95.84 are generated in 2024.
In the Fish & Seafood market, volume is expected to amount to 12.44m kg by 2029. The Fish & Seafood market is expected to show a volume growth of 2.0% in 2025.0.
The average volume per person in the Fish & Seafood market is expected to amount to 5.6kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fish & Seafood market in North Macedonia is seeing minimal growth, influenced by factors such as consumer preferences, limited access to technology, and the dominance of traditional food markets. Despite increasing health awareness, digital technologies have yet to make a significant impact on the market.

Customer preferences: Consumers in North Macedonia are showing a growing interest in sustainable and locally sourced fish and seafood products, as awareness of the environmental impact of overfishing and long-distance imports increases. This trend is driven by a desire for healthier and more ethical food options, as well as support for local producers and fishing communities. In response, retailers and restaurants are increasingly offering certified sustainable seafood options and promoting the traceability of their products. Additionally, there is a noticeable shift towards plant-based seafood alternatives, reflecting the broader global trend towards plant-based diets and the growing popularity of vegan and vegetarian lifestyles.

Trends in the market: In North Macedonia, the Fish & Seafood Market is experiencing a shift towards sustainable and eco-friendly practices, with consumers increasingly demanding ethically sourced products. This trend is significant as it reflects a growing awareness and concern for the environment among consumers. As a result, industry stakeholders are focusing on implementing sustainable fishing practices and promoting traceability to meet consumer demands. Additionally, there is a rise in the popularity of plant-based seafood alternatives, which could potentially disrupt the traditional fish and seafood market in the future.

Local special circumstances: In North Macedonia, the Fish & Seafood Market is heavily influenced by the country's location near the Adriatic Sea and its long history of fishing. The market is also shaped by cultural preferences, with seafood being a staple in the local cuisine. Additionally, the government has implemented regulations to ensure the sustainability of the fishing industry, which has a direct impact on the availability and pricing of seafood products. These unique factors contribute to the dynamics of the Fish & Seafood Market in North Macedonia and differentiate it from other markets in the region.

Underlying macroeconomic factors: The Fish & Seafood Market in North Macedonia is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. For instance, fluctuations in global seafood demand and supply can impact the prices and availability of fish and seafood products in the country. Additionally, changes in national economic health and fiscal policies can affect consumer spending power and overall market demand for fish and seafood. Furthermore, investments in infrastructure and technological advancements in the fishing industry can also influence market growth and competitiveness. These factors, along with others, play a critical role in shaping the performance of the Fish & Seafood Market in North Macedonia.

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.