Key regions: Japan, United States, Philippines, Russia, China
The Fish & Seafood Market in Mozambique is experiencing average growth, driven by factors such as increasing demand for canned, dried, and smoked fish, as well as fish fingers and portions. This can be attributed to a growing population and rising health awareness, as well as the convenience and accessibility of these products in online markets. As a result, the Digital Health market is expected to continue its upward trend in the coming years.
Customer preferences: Consumers in Mozambique are showing a growing preference for processed fish and seafood products, driven by their convenience and longer shelf life. Additionally, with the country's increasing urbanization and busy lifestyles, there is a growing demand for ready-to-eat seafood products that require minimal preparation. Furthermore, the rising awareness of health and wellness is leading to a shift towards healthier seafood options, such as low-sodium and organic products.
Trends in the market: In Mozambique, the Processed Fish & Seafood Market is experiencing an increase in demand for sustainably sourced and ethically produced products. This trend is driven by consumers' growing awareness of the environmental and social impact of the fishing industry. As a result, there has been a rise in certifications and labels for sustainable seafood, such as the Marine Stewardship Council (MSC) and Aquaculture Stewardship Council (ASC) labels. This trend is expected to continue, with industry stakeholders focusing on sustainable practices to meet consumer demand and adhere to international standards. Furthermore, this trend has implications for the industry, as companies that are able to meet these standards will have a competitive advantage and gain consumer trust.
Local special circumstances: In Mozambique, the Processed Fish & Seafood Market is heavily influenced by the country's geographical location, as it has a long coastline with access to a variety of seafood. Additionally, the local culture places a high value on fresh seafood, leading to a strong demand for processed fish and seafood products. The market is also affected by government regulations, such as strict import and export policies, which can impact the availability and pricing of processed fish and seafood. These unique factors contribute to the dynamics of the market and set it apart from other markets in the Fish & Seafood Market within The Food market.
Underlying macroeconomic factors: The Processed Fish & Seafood Market within The Food market is significantly affected by macroeconomic factors such as consumer spending power, import/export policies, and economic growth. For instance, a strong national economy with increased disposable income can lead to higher demand for processed fish and seafood products. Conversely, a weak economy with limited purchasing power can result in reduced consumer spending on these products. Moreover, regulations and trade agreements that impact the import and export of fish and seafood can also affect market performance. Furthermore, economic growth and stability can impact consumer confidence and willingness to spend on premium products, ultimately influencing the demand for processed fish and seafood.
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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