Key regions: Japan, United States, Philippines, Russia, China
The Fish & Seafood market in Australia is seeing slow growth, influenced by factors such as consumer preference for healthier food options and rise in online seafood shopping. The sub-markets of Canned, Dried & Smoked Fish and Fish Fingers & Portions also play a role in this trend.
Customer preferences: As consumers become more health-conscious, there has been a rise in demand for processed fish and seafood options that are low in fat and high in protein. This trend is particularly evident in Australia, where the population is becoming more health-conscious and seeking out convenient, healthy food options. Additionally, there has been an increase in demand for sustainably sourced and ethically produced processed fish and seafood, as consumers become more aware of the environmental impact of their food choices. This has led to a shift towards more transparent supply chains and a focus on sustainability in the processed fish and seafood market.
Trends in the market: In Australia, the Processed Fish & Seafood Market within the Fish & Seafood Market is experiencing a trend towards sustainable and ethically-sourced products. Consumers are becoming more aware and concerned about the environmental and social impact of their food choices, leading to a rise in demand for certified sustainable seafood. This trend is expected to continue, with potential implications for industry stakeholders such as increased pressure for transparency and accountability in sourcing practices. Additionally, there is a growing interest in alternative protein sources, such as plant-based seafood, which could disrupt the traditional processed fish and seafood market.
Local special circumstances: In Australia, the Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's vast coastline and strong fishing industry. This allows for a wide variety of locally caught and processed seafood products to be available to consumers. Additionally, the cultural preference for seafood in Australia, as well as the strict government regulations on fishing and food safety, contribute to the market's stability and growth. Furthermore, the increasing demand for healthy and sustainable food options in Australia has led to the popularity of locally sourced and environmentally friendly seafood products.
Underlying macroeconomic factors: The Processed Fish & Seafood Market in Australia is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. With a strong and stable economy, Australia has a high demand for processed fish and seafood products, as consumers have a higher purchasing power and are willing to pay a premium for premium quality products. Additionally, with favorable regulatory environments and government support for the seafood industry, the market is expected to experience sustained growth in the coming years. Furthermore, the increasing health consciousness and growing demand for healthy and sustainable food options are also driving the demand for processed fish and seafood products in Australia.
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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