Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in the United Kingdom is experiencing minimal growth, influenced by factors such as consumer demand for fresh and processed options, technological advancements, and increasing health consciousness. Despite the slow growth rate, the convenience of online services and the popularity of seafood in the UK are expected to drive market expansion.
Customer preferences: The Fish & Seafood Market within The Food market in the United Kingdom has seen a rise in demand for sustainable and ethically sourced seafood. As consumers become more environmentally conscious, they are seeking out products that align with their values. This has led to an increase in certifications for sustainable fishing practices and a growing preference for locally caught seafood. Additionally, the trend towards healthier eating habits has resulted in a higher demand for fresh and unprocessed seafood, further driving the market towards sustainable and locally sourced options.
Trends in the market: In the United Kingdom, the Fish & Seafood Market is experiencing a shift towards sustainable and ethical sourcing practices. This is driven by increasing consumer demand for environmentally-friendly products and transparency in the supply chain. Additionally, there is a growing trend of online seafood delivery services, providing convenience and accessibility to consumers. These developments have significant implications for industry stakeholders, as they must adapt to meet consumer expectations and comply with stricter regulations. Looking ahead, we can expect to see continued growth in this direction, with consumers placing a higher value on sustainable and responsibly-sourced seafood.
Local special circumstances: In the United Kingdom, the Fish & Seafood Market is heavily influenced by the country's strong fishing traditions and its close proximity to the Atlantic Ocean and North Sea. Additionally, the UK's strict regulations on sustainable fishing practices have a significant impact on the availability and pricing of seafood products. Furthermore, the cultural preference for fresh seafood and the rise of online grocery shopping have contributed to a growing demand for high-quality, locally-sourced fish and seafood products.
Underlying macroeconomic factors: The Fish & Seafood Market in the United Kingdom is greatly impacted by macroeconomic factors such as global trade policies, national seafood consumption patterns, and government regulations. The UK's membership in the European Union and its access to the European Single Market greatly influence the import and export of fish and seafood products. In addition, consumer demand for sustainably sourced seafood and increasing health consciousness are shaping the market, with companies investing in sustainable fishing practices and health certifications. Economic growth, consumer purchasing power, and changing dietary preferences also play a role in the market's performance.
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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