Processed Fish & Seafood - Cambodia

The Processed Fish & Seafood Market in Cambodia is facing subdued growth due to various factors, such as limited consumer awareness, low adoption of digital technologies, and lack of convenience in online services. These challenges hinder the overall market growth, particularly in sub-markets like Canned, Dried & Smoked Fish and Fish Fingers & Portions. To improve growth, stakeholders must increase awareness, improve digital infrastructure, and enhance convenience for consumers.

Customer preferences: There has been a growing trend of consumers in Cambodia seeking healthier and more sustainable food options, leading to an increased demand for processed fish and seafood products. This is driven by a shift towards more health-conscious and environmentally-friendly lifestyles, as well as a rise in disposable income among the younger population. Additionally, there has been a noticeable increase in demand for locally-sourced and organic processed fish and seafood, reflecting a growing preference for traditional and natural food products.

Trends in the market: In Cambodia, there is a growing trend of using technology to improve the production and distribution of processed fish and seafood. This includes the use of mobile apps and online platforms for fish and seafood sellers to connect with buyers, as well as the implementation of digital systems for tracking and monitoring the supply chain. This trend is significant as it increases efficiency and transparency in the market, and has the potential to improve the quality and safety of processed fish and seafood. However, it may also pose challenges for traditional fish and seafood sellers who may struggle to adapt to these new technologies. As such, industry stakeholders will need to carefully navigate these changes to ensure the sustainability and inclusivity of the processed fish and seafood market in Cambodia.

Local special circumstances: In Cambodia, the Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's unique geographical location. Being situated along the Mekong River and the Tonle Sap Lake, Cambodia has a rich supply of freshwater fish, making it a major exporter of processed fish and seafood products. Additionally, the cultural tradition of fishing and consuming fish plays a significant role in driving demand for these products. Furthermore, the government's efforts to promote sustainable fishing practices and improve food safety regulations have also had a significant impact on the market dynamics. These factors differentiate the Processed Fish & Seafood Market in Cambodia from other markets and contribute to its growth and development.

Underlying macroeconomic factors: The Processed Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors in Cambodia. The country's strong economic growth and stable political environment have led to an increase in consumer spending, driving demand for processed fish and seafood products. Additionally, Cambodia's strategic location and favorable trade agreements with neighboring countries have enabled the seafood industry to grow and expand. However, challenges such as limited infrastructure and inefficient supply chain processes have hindered the market's potential. As a result, investments in infrastructure and technology are crucial for the market's growth and development. Furthermore, the increasing health consciousness among consumers and growing demand for healthy and sustainable food options are also driving the demand for processed fish and seafood products in Cambodia.

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.