Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Tanzania is experiencing subdued growth, impacted by factors such as limited access to technology, low health awareness among consumers, and challenges in the supply chain for fresh and processed fish. However, there is potential for growth in the market, driven by increasing demand for traditional seafood dishes and the development of online platforms for seafood sales.
Customer preferences: As consumers become more health-conscious, there is a growing demand for sustainable and responsibly-sourced fish and seafood in Tanzania. This trend is driven by a combination of cultural values and environmental awareness, with consumers wanting to support local fishermen and protect the ocean ecosystem. Additionally, there is a growing interest in alternative protein sources, such as plant-based seafood, as consumers become more open to trying new and healthier options. This shift towards sustainable and alternative seafood is expected to continue in the coming years.
Trends in the market: In Tanzania, the Fish & Seafood Market is experiencing a shift towards sustainable fishing practices, with the government implementing stricter regulations to protect marine resources. This trend is significant for industry stakeholders as it promotes long-term environmental sustainability and ensures a steady supply of fish for future generations. Additionally, there is a growing demand for locally sourced, high-quality seafood products, creating opportunities for small-scale fisheries to thrive. This trend has potential implications for industry players who may need to adapt their sourcing and production strategies to meet consumer demands.
Local special circumstances: In Tanzania, the Fish & Seafood Market is heavily influenced by its rich coastal geography and diverse cultural heritage. The country's long coastline and abundant freshwater resources contribute to a wide variety of fish and seafood offerings. Additionally, traditional fishing practices and local food preferences play a significant role in shaping the market's dynamics. The government's efforts to regulate and promote sustainable fishing practices also impact the availability and pricing of fish and seafood products in the market.
Underlying macroeconomic factors: The Fish & Seafood Market in Tanzania is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. As the country's economy continues to grow and stabilize, consumer spending power and demand for quality seafood products are on the rise. Additionally, government initiatives to promote sustainable fishing practices and investments in infrastructure are driving market growth. However, challenges such as climate change and overfishing could impact the market's future performance. Furthermore, the increasing demand for healthy and protein-rich diets is expected to drive the growth of the Fish & Seafood Market in Tanzania 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.
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