Key regions: Japan, United States, Philippines, Russia, China
The Processed Fish & Seafood Market in New Zealand is currently experiencing minimal growth, influenced by factors such as increasing consumer health awareness, adoption of digital technologies, and convenience of online services. The sub-markets of Canned, Dried & Smoked Fish, and Fish Fingers & Portions contribute to this growth rate. However, challenges such as sustainability concerns and competition from other protein sources may impact the market's growth.
Customer preferences: Consumer preferences in New Zealand's Processed Fish & Seafood Market are shifting towards healthier and more sustainable options, driven by increasing awareness of the impact of overfishing on the environment. This has led to a rise in demand for sustainably sourced and certified seafood products, as well as a preference for plant-based alternatives to traditional processed fish products. Additionally, there is a growing trend towards locally sourced seafood, with consumers prioritizing supporting local businesses and reducing their carbon footprint.
Trends in the market: In New Zealand, the processed fish and seafood market is experiencing a rise in demand for sustainably sourced products. This trend is driven by consumer awareness and a growing focus on environmental sustainability. As a result, industry stakeholders are investing in sustainable fishing practices and certifications to meet this demand. In addition, there is a growing trend towards online purchasing and home delivery of processed fish and seafood products, offering convenience and accessibility to consumers. These trends have significant implications for the industry, as they require a shift towards sustainable practices and investments in digital platforms. This could potentially lead to increased competition and the need for innovation in supply chain management and digital marketing strategies.
Local special circumstances: In New Zealand, the Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's extensive coastline and rich fishing industry. This allows for a wide variety of locally sourced fish and seafood products, catering to the preferences of the local population. Additionally, strict regulations and sustainability initiatives in the fishing industry contribute to the high quality and safety standards of New Zealand's processed fish and seafood market. These unique factors make the market highly competitive and sought after by consumers who value sustainable and locally sourced products.
Underlying macroeconomic factors: The Processed Fish & Seafood Market within The Food market in New Zealand is influenced by various macroeconomic factors. The country's stable economic growth, favorable regulatory environment, and investments in the seafood industry are driving the market's growth. Additionally, the increasing demand for healthy and convenient food options, coupled with the rising health consciousness among consumers, is boosting the demand for processed fish and seafood products in the country. Furthermore, the growing trend of online food shopping and the government's initiatives to promote sustainable fishing practices are also contributing to the market's growth. These factors are expected to continue driving the growth of the Processed Fish & Seafood Market in New Zealand in the coming years.
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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