Processed Fish & Seafood - Greece

The Processed Fish & Seafood Market in Greece is experiencing negligible growth due to various factors including increasing consumer preference for fresh fish, strict regulations on fishing, and competition from traditional seafood markets. Despite this slow growth, the market is expected to witness a rise in demand for canned, dried, and smoked fish as well as fish fingers and portions, driven by the convenience and health benefits offered by these products. The market is also influenced by the rising health consciousness among consumers, as well as the adoption of digital technologies in the seafood industry.

Customer preferences: Consumers in Greece are increasingly turning to processed fish and seafood as a convenient and healthy protein option. This trend is driven by the growing health consciousness and the desire for quick and easy meal solutions. Additionally, the rise of busy lifestyles and the need for on-the-go options have also contributed to the popularity of processed fish and seafood products. Moreover, the demand for sustainable and environmentally friendly food choices has led to a preference for responsibly sourced and certified seafood.

Trends in the market: In Greece, the Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for organic and sustainably-sourced products. This trend is driven by increasing consumer awareness of the environmental and health impacts of conventional fishing and processing methods. As a result, industry stakeholders are investing in more sustainable practices and marketing strategies to cater to this growing market segment. Additionally, there is a rise in online sales and delivery services for processed fish and seafood products, reflecting the shift towards e-commerce in the food industry. These trends are expected to continue, presenting opportunities for growth and innovation in the market.

Local special circumstances: In Greece, the Processed Fish & Seafood Market within the Fish & Seafood Market of The Food market is heavily influenced by the country's rich history and culture of fishing and seafood consumption. The Mediterranean location also plays a significant role, with a variety of fresh seafood available for processing and export. Additionally, the strict regulatory standards for food safety and quality assurance ensure that consumers have access to safe and high-quality processed fish and seafood products. These factors contribute to a unique market dynamic that sets it apart from other markets in the Food industry.

Underlying macroeconomic factors: The Processed Fish & Seafood Market within The Food market in Greece is influenced by macroeconomic factors such as economic stability, consumer purchasing power, and government policies. The country's economic downturn in recent years has led to a decrease in consumer spending and a shift towards more affordable food options. However, with the improvement of the Greek economy and an increase in disposable income, there is potential for growth in the processed fish and seafood market. In addition, government initiatives to support sustainable fishing practices and promote the consumption of healthy seafood products are expected to drive market growth. Another key factor is the increasing demand for convenience and ready-to-eat seafood products, as busy lifestyles and changing dietary preferences have led to a rise in the consumption of processed fish and seafood. Overall, the market's performance is closely tied to the country's economic health and policies promoting sustainable and healthy food options.

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.