Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood Market in Sweden is experiencing sluggish growth due to various factors such as declining consumption, strict regulations on fishing, and increasing concerns over sustainability. The sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood are all impacted by these factors, leading to a negligible growth rate. In addition, the high prices of seafood and competition from other protein sources also contribute to the slow growth in this market.
Customer preferences: Consumers in Sweden are increasingly prioritizing sustainable and ethically sourced seafood products. This trend has been driven by the country's strong cultural values surrounding environmental responsibility and animal welfare. Additionally, there is a growing demand for locally sourced fish and seafood, as consumers prioritize supporting local businesses and reducing their carbon footprint. This has led to a rise in popularity of farmer's markets and community-supported fisheries, as well as a push for more transparent and traceable supply chains.
Trends in the market: In Sweden, the Fish & Seafood Market is seeing a surge in demand for sustainably sourced products, driven by increasing consumer awareness of the environmental impact of fishing practices. This trend is expected to continue as the government and industry stakeholders work towards promoting sustainable fishing and aquaculture practices. Additionally, there is a growing interest in alternative seafood options, such as plant-based and lab-grown seafood, which could disrupt the traditional market and provide new opportunities for industry players. This trend is significant as it reflects changing consumer preferences and the need for the industry to adapt and innovate. It also poses potential challenges for traditional fishers and processors, who may need to invest in new technologies and processes to remain competitive in the market.
Local special circumstances: In Sweden, the Fish & Seafood Market is heavily influenced by the country's long coastline and deep-rooted fishing traditions. The strict regulations on sustainable fishing and environmental protection have led to a high-quality and reliable supply of seafood. Additionally, the Swedish culture places a strong emphasis on healthy and sustainable food consumption, making fish and seafood a popular choice. These factors have also led to a rise in innovative and eco-friendly seafood products, such as plant-based fish alternatives and traceable seafood tracking systems.
Underlying macroeconomic factors: The Fish & Seafood Market within The Food market in Sweden is heavily dependent on macroeconomic factors such as consumer disposable income, trade policies, and environmental regulations. Sweden's strong economy and high disposable income levels have led to increased demand for premium fish and seafood products. Additionally, the country's strict environmental regulations and sustainable fishing practices have contributed to the growth of the market. However, trade policies and fluctuations in global seafood prices can pose challenges for the market. Overall, the market is expected to continue growing due to the country's stable economy and increasing focus on sustainable food production.
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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