Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood Market in Northern Africa is experiencing subdued growth, influenced by factors such as increasing health consciousness, technological advancements, and the convenience of online services. These factors are driving the overall market, including the sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood. Despite the slow growth rate, the market is expected to continue expanding in the coming years due to the growing demand for healthy and sustainable food options.
Customer preferences: As the population in Northern Africa continues to grow, there is a noticeable increase in demand for seafood. This trend is largely driven by the cultural preference for healthy and protein-rich diets. Additionally, the rise of e-commerce and online grocery shopping has made it easier for consumers to access a variety of seafood options from different regions. This has also led to a shift towards sustainable and ethically-sourced seafood, as consumers become more aware of the environmental impact of their food choices.
Trends in the market: In Northern Africa, the Fish & Seafood Market within The Food market is experiencing a rising demand for sustainable and traceable seafood products. This trend is driven by consumer awareness and concern for the environment, as well as stricter regulations on fishing practices. As a result, companies are investing in sustainable sourcing and traceability technologies to meet this demand. This trend is expected to continue, as consumers become more conscious of their food choices and governments enforce stricter regulations. This presents opportunities for industry stakeholders to differentiate themselves and gain a competitive edge, but also poses challenges in terms of costs and implementation.
Local special circumstances: In Northern Africa, the Fish & Seafood Market within The Food market is heavily influenced by the region's geographical location and cultural traditions. The Mediterranean Sea, the Atlantic Ocean, and the Red Sea provide access to a diverse range of seafood, while local cuisines and customs prioritize the consumption of fresh, locally caught fish. Additionally, regulatory measures, such as quotas and fishing restrictions, play a significant role in shaping the market and ensuring sustainable fishing practices. These factors contribute to a unique market dynamic, with a strong emphasis on quality and tradition.
Underlying macroeconomic factors: The Fish & Seafood Market within The Food market is greatly affected by macroeconomic factors in Northern Africa. Global economic trends, such as trade agreements and tariffs, can impact the availability of fish and seafood products in the market. The national economic health of the country also plays a significant role, as it can influence consumer spending and demand for these products. Fiscal policies, such as taxes and subsidies, can also impact the cost of fish and seafood, which in turn affects the market performance. Other relevant financial indicators, such as inflation and exchange rates, can also have an impact on the market. Overall, a stable and favorable economic environment can lead to higher demand and growth in the Fish & Seafood Market in Northern Africa.
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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