Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in the UAE is witnessing minimal growth, influenced by factors such as increasing health consciousness, adoption of digital technologies, and the convenience offered by online services. The sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood are also contributing to the overall market's growth.
Customer preferences: The demand for sustainable and ethically sourced seafood is on the rise in the United Arab Emirates. As consumers become more environmentally conscious, they are seeking out seafood that is responsibly harvested and produced. This trend is also influenced by the growing expat population in the country, where individuals from different cultural backgrounds have varying preferences for seafood. In addition, the rise of health-conscious consumers has led to an increase in demand for seafood as a lean protein option, further driving the growth of the Fish & Seafood Market within The Food market.
Trends in the market: In United Arab Emirates, the Fish & Seafood Market is experiencing a trend towards sustainable and ethical sourcing. Consumers are increasingly demanding transparency in the supply chain and are willing to pay a premium for products that are responsibly and ethically produced. This trend is expected to continue, driven by government initiatives promoting sustainable fishing practices and increasing awareness among consumers about the environmental impact of their food choices. Industry stakeholders should take note of this trend and adapt their practices to meet consumer demands for sustainable and ethical seafood products.
Local special circumstances: In the United Arab Emirates, the Fish & Seafood market is heavily influenced by the country's geographical location, surrounded by the Arabian Gulf and the Gulf of Oman. This has led to a high demand for fresh seafood products, as well as the development of a strong fishing industry. Additionally, the UAE's diverse culinary culture, with a focus on seafood dishes, has contributed to the growth of the market. Furthermore, strict regulations and standards for food safety and quality in the country have resulted in a reliable and trusted seafood market for both domestic consumption and exports.
Underlying macroeconomic factors: The Fish & Seafood Market in the United Arab Emirates is heavily influenced by macroeconomic factors such as consumer spending power, government policies, and global economic trends. The country's strong economic growth and stable political environment have resulted in increasing demand for high-quality seafood products. Additionally, favorable government initiatives such as investing in sustainable fishing practices and promoting seafood exports have further boosted the growth of the market. Furthermore, the growing health consciousness and rising disposable income of the population have led to a higher demand for premium and organic seafood products.
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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