Definition:
The Processed Fish & Seafood market covers all types of fish and seafood that have either been smoked, dried, canned, salted or given chemical preservatives.
Additional Information:
The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.
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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The processed fish and seafood market in Central & Western Europe is experiencing minimal growth due to various factors such as changing consumer preferences, increasing health consciousness, and convenience offered by online purchasing. The sub-markets of canned, dried & smoked fish and fish fingers & portions also contribute to this trend. The market's growth rate is impacted by these factors, as well as the availability of alternative protein sources and fluctuating prices of raw materials.
Customer preferences: Consumers in Central & Western Europe are increasingly gravitating towards sustainable and eco-friendly options in the Processed Fish & Seafood Market. This trend is driven by growing awareness about the environmental impact of traditional fishing practices and the desire for healthier and ethically-sourced products. As a result, there has been a rise in demand for certified sustainable seafood and plant-based alternatives to traditional fish and seafood products. This shift towards sustainability also aligns with the region's overall focus on health and wellness, as consumers prioritize nutritious and environmentally-friendly food choices.
Trends in the market: In Central and Western Europe, there is a growing demand for sustainably sourced and traceable processed fish and seafood products. This trend is driven by increasing consumer awareness of the environmental impact of the fishing industry and the desire for transparency in the supply chain. As a result, there has been a rise in certifications and labeling schemes for seafood products, such as the Marine Stewardship Council (MSC) certification. This trend is expected to continue, with consumers becoming more conscious of their seafood choices and companies responding with more sustainable practices. This presents opportunities for industry stakeholders to differentiate themselves in the market and meet the evolving demands of consumers.
Local special circumstances: In Central & Western Europe, the Processed Fish & Seafood market is heavily influenced by the region's strong fishing and aquaculture industries. This leads to a wide variety of fresh, high-quality seafood products available to consumers. Additionally, the cultural preference for seafood in countries like Spain, Portugal, and Italy drives demand for processed fish and seafood products. Furthermore, the strict regulations and standards for food safety and sustainability in the region ensure the quality and traceability of processed fish and seafood, making it a trusted choice for consumers.
Underlying macroeconomic factors: The Processed Fish & Seafood Market within The Food market is significantly impacted by macroeconomic factors in Central & Western Europe. The region's stable economic growth, coupled with rising disposable income and changing consumer preferences, has contributed to the increased consumption of processed fish and seafood products. Additionally, favorable trade policies and increasing international demand for high-quality seafood have boosted the export market for processed fish and seafood in Central & Western Europe. However, the market is also influenced by challenges such as fluctuating raw material costs, strict regulations on environmental sustainability, and increasing competition from other protein sources. As a result, companies in this market are investing in innovative and sustainable production methods to remain competitive and meet the growing demand for processed fish and seafood products.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights