Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Suriname is seeing minimal growth, influenced by factors such as consumer preferences for fresh, locally sourced options and the convenience of processed products. Increasing health awareness and adoption of technology are also driving market growth.
Customer preferences: The increasing focus on sustainability and ethical consumption is driving consumer preferences in the Fish & Seafood Market within The Food market in Suriname. This trend is reflected in the rising demand for sustainably sourced seafood and eco-friendly packaging options. Additionally, there is a growing interest in locally sourced seafood, as consumers prioritize supporting small-scale fisheries and reducing the carbon footprint of their food choices. This shift towards conscious consumption is also influenced by the cultural value placed on preserving the natural environment in Suriname.
Trends in the market: In Suriname, the Fish & Seafood Market is experiencing a shift towards sustainable and traceable seafood products. This trend is driven by consumer demand for ethically sourced seafood and the growing concerns over overfishing and environmental impact. As a result, industry stakeholders are increasingly investing in sustainable practices and implementing traceability systems to meet consumer demands. This trend is expected to continue, with potential implications for market players who fail to adapt and may face consumer backlash and loss of market share.
Local special circumstances: In Suriname, the Fish & Seafood Market is heavily influenced by the country's unique geographical location. Suriname's proximity to the Atlantic Ocean and its vast river system provide a diverse range of fish and seafood options. Additionally, the country's strong cultural ties to fishing and reliance on traditional fishing methods also play a significant role in shaping the market. Furthermore, Suriname's strict regulations on fishing and sustainable practices have led to a market that prioritizes high-quality, responsibly sourced products. These local factors contribute to the dynamic and diverse nature of the Fish & Seafood Market in Suriname.
Underlying macroeconomic factors: The growth of the Fish & Seafood Market within The Food market in Suriname is influenced by several macroeconomic factors. These include global economic trends, national economic health, fiscal policies, and other relevant financial indicators. For instance, the growing demand for seafood in international markets has a positive impact on Suriname's seafood exports, contributing to the country's economic growth. Moreover, favorable government policies and investments in the seafood industry have further boosted the market's performance. However, challenges such as changing consumer preferences and environmental concerns can hinder market growth. Additionally, Suriname's economic stability and government support play a crucial role in the market's performance, as they impact consumer purchasing power and market demand.
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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