Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Sudan is experiencing rapid growth, driven by factors such as increasing demand for fresh and processed fish, growing health consciousness among consumers, and the convenience of online purchasing. The market's elevated growth rate can be attributed to the country's expanding economy and rising disposable income, as well as government initiatives to promote the fishing industry. These factors are expected to continue driving the market's growth in the foreseeable future.
Customer preferences: As health and wellness awareness grows among Sudanese consumers, there is a noticeable trend towards increased demand for sustainably sourced fish and seafood products. This shift is driven by the cultural significance of seafood in Sudanese cuisine and the growing preference for ethically and environmentally responsible food options. This has led to a rise in the popularity of locally caught and organic seafood, as well as a preference for traceable and transparent supply chains. Additionally, there is a growing interest in convenient and healthy seafood options, such as pre-packaged and ready-to-eat seafood meals, reflecting the evolving lifestyle factors of busy consumers.
Trends in the market: In Sudan, the Fish & Seafood Market is experiencing a rise in demand for sustainably sourced and ethically produced seafood products. This trend is significant as it aligns with global efforts towards sustainable and responsible fishing practices. It also presents potential implications for industry stakeholders, as they may need to adapt their supply chains and sourcing methods to meet this demand. Additionally, there is an emerging trend of online seafood marketplaces, providing consumers with convenient and direct access to a variety of seafood products. This trend is expected to continue, driven by the increasing adoption of e-commerce in Sudan.
Local special circumstances: In Sudan, the Fish & Seafood Market is heavily influenced by the country's location along the Red Sea coast, which provides easy access to a variety of fresh and diverse seafood. Additionally, Sudanese cuisine heavily incorporates seafood, making it a staple in the local diet and driving demand in the market. However, the market is also affected by the country's political and economic instability, leading to challenges in sourcing and distribution. This has resulted in a reliance on imports, as well as fluctuations in prices and availability. These unique factors play a significant role in shaping the dynamics of the Fish & Seafood Market in Sudan, setting it apart from other markets in the region.
Underlying macroeconomic factors: The Fish & Seafood Market in Sudan is heavily influenced by macroeconomic factors such as the country's unstable political situation, limited infrastructure, and high levels of poverty. These factors have a direct impact on the overall economic health of the nation, which in turn, affects consumer spending and demand for fish and seafood products. Additionally, global economic trends, such as fluctuations in commodity prices and trade policies, also play a significant role in shaping the market in Sudan. The country's limited access to technology and modern fishing techniques also hinders the growth of the market. As a result, the Fish & Seafood Market in Sudan is facing slow growth compared to other regions with more stable economies and advanced fishing technology.
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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