Key regions: Japan, United States, Philippines, Russia, China
The Processed Fish & Seafood Market in Suriname has seen a steady growth rate, driven by factors such as increasing demand for convenience foods, rising health consciousness among consumers, and the adoption of digital technologies in food processing. The sub-markets of Canned, Dried & Smoked Fish and Fish Fingers & Portions have also contributed to the overall growth. However, challenges such as limited availability of raw materials and high production costs have impacted the market's growth rate.
Customer preferences: Consumers in Suriname are developing a growing appetite for processed fish and seafood due to their convenience and longer shelf life. Additionally, with the increasing focus on healthy and sustainable food options, there has been a rise in demand for sustainably sourced and certified processed fish and seafood products. This trend is also influenced by the growing awareness of the negative environmental impacts of overfishing and the importance of preserving marine ecosystems. As a result, companies in the processed fish and seafood market are increasingly incorporating sustainable practices in their production processes to cater to this emerging consumer preference.
Trends in the market: In Suriname, the Processed Fish & Seafood Market is experiencing a rise in demand for sustainably sourced and certified products, as consumers become more conscious of the environmental impact of their food choices. This trend is expected to continue, with companies investing in sustainable fishing practices and certifications to meet consumer demands. Additionally, there is a growing trend of using e-commerce platforms for the sale and distribution of processed fish and seafood products, providing convenience and expanding market reach. These trends have significant implications for industry stakeholders, as they must adapt to meet evolving consumer preferences and invest in technology to remain competitive in the market.
Local special circumstances: In Suriname, the Processed Fish & Seafood Market is heavily influenced by the country's vast coastal regions and rich fishing resources. The local culture also plays a significant role, as seafood is a staple in Surinamese cuisine. Additionally, the government's efforts to promote sustainable fishing practices have resulted in a well-regulated market. This has led to a wide range of high-quality, locally sourced processed fish and seafood products, catering to both domestic and international demand. Such unique factors make the Surinamese market stand out from others in the Fish & Seafood Market within The Food market, contributing to its dynamic growth.
Underlying macroeconomic factors: The Processed Fish & Seafood Market within The Food market in Suriname is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. Suriname's economic growth has been hindered by its dependence on commodity exports, particularly gold and oil. However, the country has been implementing economic reforms to diversify its economy and attract foreign investment. This, coupled with the government's efforts to improve infrastructure and regulatory frameworks, is expected to positively impact the Processed Fish & Seafood Market in Suriname. Furthermore, the rising demand for processed fish and seafood products, driven by increasing health consciousness and changing dietary habits, is expected to further boost the market 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.
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