Key regions: Japan, United States, Philippines, Russia, China
The Fish & Seafood Market in Ireland has seen slow growth due to factors such as changing consumer preferences, increasing competition, and fluctuating demand. The Canned, Dried & Smoked Fish sub-market has been impacted by rising health consciousness, while the Fish Fingers & Portions sub-market has been affected by convenience and affordability. However, the overall growth rate remains negligible, possibly due to regulatory constraints and limited technological advancements in the industry.
Customer preferences: Consumers in Ireland are becoming more health-conscious, leading to a growing demand for processed fish and seafood products that are perceived as healthier options. With a focus on sustainability, there is also a trend towards choosing locally sourced and eco-friendly seafood. Additionally, the rise of flexitarian and plant-based diets has resulted in an increased demand for processed fish and seafood alternatives, such as plant-based seafood products. This shift in consumer preferences is driven by a desire for healthier and more sustainable food choices.
Trends in the market: In Ireland, the Processed Fish & Seafood Market within The Food market is experiencing an increase in demand for sustainably sourced and ethically produced products. This trend is driven by consumer awareness and concerns about overfishing and environmental impact. As a result, industry stakeholders are investing in sustainable fishing practices and certifications to meet this demand. Implications for the market include potential growth opportunities for companies that can demonstrate their commitment to sustainability, as well as potential challenges for those who cannot adapt to changing consumer preferences.
Local special circumstances: In Ireland, the Processed Fish & Seafood Market within The Food market is heavily influenced by the country's coastal location and strong fishing traditions. The Irish seafood industry is known for its sustainable practices and high-quality products, which attract both domestic and international consumers. Additionally, Ireland's strict regulatory standards for food safety and traceability contribute to the market's stability and trustworthiness. The country's rich seafood heritage and commitment to sustainability and quality make it a unique and desirable market for processed fish and seafood products.
Underlying macroeconomic factors: The Processed Fish & Seafood Market in Ireland is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Ireland's strong economic growth and stable fiscal policies have created a favorable business environment for the Fish & Seafood Market, leading to increased investments and market growth. Additionally, the country's strategic location and access to key international markets have contributed to the growth of the Processed Fish & Seafood Market. Furthermore, Ireland's robust regulatory environment and investments in healthcare infrastructure have also played a crucial role in driving the demand for processed fish and seafood, particularly in the context of rising health consciousness and increasing demand for healthy and sustainable 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.
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