Key regions: Japan, United States, Philippines, Russia, China
The Processed Fish & Seafood Market in China is experiencing subdued growth, influenced by factors such as increasing consumer demand for healthier food options, rising health consciousness, and the convenience of online purchasing. Despite this slow growth, the market is still expected to see significant expansion due to the growing popularity of canned, dried, and smoked fish, as well as fish fingers and portions.
Customer preferences: As Chinese consumers become more health-conscious and environmentally aware, there has been a growing demand for sustainably sourced and minimally processed fish and seafood products. This trend is driven by a desire for healthier and more natural food options, as well as a growing concern for the impact of traditional fishing and processing methods on the environment. As a result, there has been an increase in the availability of organic and sustainable options in the Processed Fish & Seafood Market, catering to this evolving consumer preference.
Trends in the market: In China, the Processed Fish & Seafood Market within The Food market is experiencing a surge in demand for healthier, convenient and ready-to-eat seafood products. This trend is driven by the increasing health consciousness among consumers, who are seeking nutritious and convenient meal options. In addition, the market is witnessing a rise in online sales, as e-commerce platforms provide a convenient and safe way to purchase seafood products. This shift towards online sales is expected to continue, as more consumers embrace digital platforms for their seafood purchases, presenting opportunities for industry stakeholders to expand their online presence and improve their supply chain capabilities.
Local special circumstances: In China, the Processed Fish & Seafood Market within The Food market is heavily influenced by the country's large population and growing middle class. The demand for convenient and affordable food options has led to the popularity of processed fish and seafood products. Additionally, the government's efforts to promote food safety regulations have also played a significant role in shaping the market. With a rich fishing heritage and access to advanced processing technologies, China's processed fish and seafood market has become a major player in the global industry.
Underlying macroeconomic factors: The Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market is influenced by various macroeconomic factors in China. The country's strong economic growth and rising disposable income levels have led to an increase in demand for processed fish and seafood products. Additionally, favorable government policies and investments in the food sector have contributed to the expansion of the market. Furthermore, China's large population and growing urbanization have created a significant consumer base for processed fish and seafood products, further driving market growth. Moreover, the increasing health consciousness and demand for convenience foods are also key factors influencing the market in China.
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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