Key regions: United Kingdom, United States, India, Canada, China
The Fish & Seafood market in Zambia is experiencing subdued growth, influenced by various factors such as increasing health awareness, consumer preferences for fresh options, and the convenience of online services. Despite this, the market is expected to continue growing due to rising demand for healthy and sustainable food choices.
Customer preferences: As the demand for healthier and more sustainable food options continues to rise, consumers in Zambia are increasingly turning towards locally sourced and organic fish and seafood. This trend is driven by a growing awareness of the environmental impact of large-scale fishing and concerns over the use of antibiotics and hormones in imported seafood. Additionally, there is a growing preference for traditional and culturally significant fish and seafood species, reflecting a desire to reconnect with local food traditions and support small-scale fisheries.
Trends in the market: In Zambia, the Fish & Seafood Market is experiencing a surge in demand for sustainably caught and sourced products, as consumers become more environmentally conscious. This trend is expected to continue, with an increasing number of companies promoting sustainable fishing practices and offering certifications. This shift towards sustainability has significant implications for industry stakeholders, as it presents opportunities for differentiation and market growth. However, it also requires significant investments and changes in supply chain management, which may pose challenges for smaller players in the market.
Local special circumstances: In Zambia, the Fish & Seafood Market is heavily influenced by the country's location and landlocked status. This has led to a reliance on imports and limited domestic production, making the market vulnerable to global supply and price fluctuations. Additionally, cultural preferences for certain types of fish, such as the popular bream species, shape consumer demand and influence market trends. Government regulations and policies also play a significant role, with efforts to promote sustainable fishing practices and support local fishers shaping the market dynamics.
Underlying macroeconomic factors: The Fish & Seafood Market within The Food market in Zambia is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. The market's performance is greatly affected by the country's economic stability, as well as global factors such as trade agreements and fluctuations in consumer demand. Additionally, government policies and investments in the fishing industry can greatly impact the supply and demand of fish and seafood products in the market. Furthermore, the rising demand for healthier food options and the increasing popularity of sustainable fishing practices are also driving the growth of the Fish & Seafood Market in Zambia.
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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