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 & Seafood Market in Morocco has witnessed slight growth due to factors such as increasing demand for convenience, health consciousness among consumers, and the adoption of digital technologies. The sub-markets of Canned, Dried & Smoked Fish and Fish Fingers & Portions play a significant role in shaping this market. However, the minimal growth rate is impacted by challenges such as supply chain disruptions and regulatory constraints.
Customer preferences: Consumers in Morocco are increasingly seeking convenience and variety in their food choices, leading to a growing demand for processed fish and seafood products. This trend is driven by the busy lifestyles of urban dwellers and the desire for quick and easy meal options. Additionally, the influence of Western diets and the growing middle class are also contributing factors to the rise in consumption of processed fish and seafood in Morocco.
Trends in the market: In Morocco, the Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market is experiencing a surge in demand for sustainable and ethically-sourced seafood products. This trend is driven by consumer awareness of the environmental impact of traditional fishing methods, as well as increasing government regulations on sustainable fishing practices. This is significant as it highlights a shift towards more conscious consumption habits among consumers. It also presents opportunities for industry stakeholders to invest in sustainable practices and promote their ethical sourcing efforts to attract environmentally-conscious consumers. Additionally, this trend could potentially lead to a more stable and sustainable seafood industry in Morocco in the long run.
Local special circumstances: In Morocco, the Processed Fish & Seafood Market is heavily influenced by the country's rich marine resources and strong fishing industry. The coastal location of the country allows for easy access to a variety of fish and seafood, leading to a diverse selection of processed fish and seafood products. Additionally, the country's cultural preferences for seafood as a staple part of the diet drives the demand for processed fish and seafood. The government's focus on sustainable fishing practices also plays a significant role in regulating the market and ensuring the quality and safety of processed fish and seafood products.
Underlying macroeconomic factors: The Processed Fish & Seafood market within The Food market in Morocco is greatly influenced by macroeconomic factors. Global economic trends have a significant impact on the market, as changes in consumer spending patterns and trade policies can affect the import and export of processed fish and seafood products. The national economic health of Morocco also plays a crucial role, as it affects consumer purchasing power and market demand. Fiscal policies, such as taxes and tariffs, can also impact the market's performance by affecting the cost of production and distribution. Other relevant financial indicators, such as inflation, exchange rates, and interest rates, can also affect the market. Furthermore, Morocco's efforts to modernize its fishing industry and improve its processing capabilities have been a key driver of market growth. This, coupled with the increasing demand for healthy and convenient food options, has led to a rise in the consumption of processed fish and seafood products in the country.
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