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 Northern Europe is facing negligible growth due to various factors such as changing consumer preferences towards healthier food options, increasing concerns about sustainability and environmental impact, and strict regulations on fishing practices. However, the convenience offered by canned, dried & smoked fish and fish fingers & portions may help drive some growth in the market. Overall, the market is expected to see slow growth in the upcoming years.
Customer preferences: As sustainability becomes a growing concern in Northern Europe, consumers are gravitating towards processed fish and seafood options that are certified sustainable. This shift is driven by a cultural emphasis on environmental consciousness and a desire to support sustainable fishing practices. Additionally, there is a growing demand for plant-based and vegetarian seafood alternatives, reflecting evolving dietary preferences and a desire for healthier and more ethical food options.
Trends in the market: In Northern Europe, the Processed Fish & Seafood market is experiencing a shift towards sustainable and eco-friendly practices. Consumers are increasingly demanding products that are sourced and processed using environmentally friendly methods. This trend is expected to continue, with companies investing in sustainable sourcing and production methods to meet consumer demands. Additionally, there is a growing popularity of plant-based alternatives to traditional fish and seafood products, as consumers become more health-conscious and environmentally aware. These trends are significant for industry stakeholders, as they must adapt to changing consumer preferences and invest in sustainable practices to remain competitive in the market. Failure to do so could result in loss of market share and potential reputational damage.
Local special circumstances: In Northern Europe, the Processed Fish & Seafood market is heavily influenced by the region's strong fishing industry and rich seafood traditions. The local geography, with its long coastline and numerous water bodies, provides easy access to fresh seafood, making it a staple in the region's cuisine. Additionally, strict regulations and certifications for sustainable fishing practices and food safety standards ensure high-quality and safe products for consumers. These factors, combined with the region's growing health consciousness, have driven the demand for processed fish and seafood, particularly in the frozen and canned categories.
Underlying macroeconomic factors: The Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors in Northern Europe. The region's stable economic growth, high disposable income, and growing health consciousness among consumers are driving the demand for processed fish and seafood products. Furthermore, the region's strict regulatory environment and high standards for food safety have created a favorable market for processed fish and seafood products. Additionally, the increasing trend of healthy and sustainable diets in Northern Europe is also contributing to the growth of the processed fish and seafood market. These factors are expected to continue to drive market growth 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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights