Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Oman is experiencing minimal growth, influenced by factors such as increasing demand for fresh and processed seafood, as well as growing health consciousness among consumers. The convenience of online seafood purchases is also contributing to the market's growth. However, limited availability of certain fish species and strict regulations on fishing may be impacting the overall market's growth rate.
Customer preferences: Consumers in Oman are increasingly prioritizing sustainability and ethical sourcing when it comes to their seafood purchases. This trend is driven by a growing awareness of the impact of overfishing and unsustainable fishing practices on marine ecosystems. As a result, there is a growing demand for locally sourced seafood, as well as for certification of sustainable fishing practices. Additionally, there is a trend towards seeking out organic and wild-caught seafood options, as consumers become more health-conscious and prioritize natural and unprocessed foods.
Trends in the market: In Oman, the Fish & Seafood Market is experiencing a rise in demand for sustainable and traceable seafood products. This trend is driven by increasing consumer awareness and concern for the environment and ethical sourcing. As a result, there has been a surge in certifications for sustainable fishing practices and the use of technology to track and trace seafood products. This trajectory towards sustainability and transparency has significant implications for industry stakeholders, such as the need for investment in sustainable practices and technology, as well as potential market opportunities for companies that can provide traceable and sustainable seafood products. It also highlights the importance for companies to prioritize and communicate their commitment to sustainability in order to remain competitive in the market.
Local special circumstances: In Oman, the Fish & Seafood Market is heavily influenced by the country's coastal location and strong fishing culture. The government's strict regulations on fishing and sustainable practices have led to a high-quality and diverse seafood market. Additionally, the country's growing tourism industry has created a demand for fresh seafood, driving the market's growth. Despite these factors, the market faces challenges such as limited distribution networks and infrastructure, hindering its potential for export.
Underlying macroeconomic factors: The Fish & Seafood Market in Oman is significantly influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The country's strong economic growth and stable fiscal policies have resulted in a favorable market environment for the Fish & Seafood industry. Additionally, increasing demand for healthy and sustainable food options from health-conscious consumers has also contributed to the growth of the market. However, challenges such as rising production costs and environmental concerns could potentially impede market growth in the future.
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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