Hypermarkets & Supermarkets Holds the Fish & Seafood Distribution

In recent years, due to increasing urbanisation leading to busy lifestyle of population, there has been a surge in the demand of ready-made food products, including fish and seafood, by consumers. The use of Rigid Plastic is forecast to register the fastest growth among packaging material during 2019-2025.

Consumer and Market Insights: Fish and Seafood Market in Hungary offer insights on the changing trends and key issues within the Hungarian Fish and Seafood market. It includes an insightful analysis of consumer behavior, packaging trends, leading players and distribution trends within Hungarian Fish and Seafood market. The analysis of the aforementioned trends has been done on the basis of six categories within the market that are Ambient Fish and Seafood, Chilled Raw Packaged Fish and Seafood – Processed, Chilled Raw Packaged Fish and Seafood – Whole Cuts, Dried Fish and Seafood, Fresh Fish and Seafood (Counter), Frozen Fish and Seafood.

In the recent years, 2014-2019, the consumer demand in the Hungarian Fish and Seafood market has followed an upward trend. The market is reported to experience an even higher growth rate in value terms during 2015-2020. However, among the six categories analysed, the Fresh Fish and Seafood category (Counter) is expected to be the leading category in both volume and value terms with a CAGR of 4.3% during 2019-2025. This added impulse to the growth of the market can be attributed to the increasing urban population of Hungary and their time-tight schedule which has led to higher demands for ready to eat food products.
Apart from this, the consumer preferences have also been influenced by the increasing concerns towards health issues and wellness, and have prompted the Hungarian consumers to go for high quality natural and organic food products including fish and seafood.This consumption pattern is expected to be more prevalent in future years due to the aging population of Hungary.

Global Fish and Seafood Market
Rising demands for processed food products by time-trapped consumers have led to the consistent growth of the Fish and Seafood market, especially in four regions of the world i.e. America, Asia-Pacific region, Europe and MEA. Realization of the importance of organic and natural food products from health point of view has further contributed towards sustaining this growth pattern of the market.

Hence, Aquaculture, which is the most prevalent food production process globally, is expected to drive the growth of the market in next five years. Also, in terms of volume, aquaculture has dominated other conventional food-production processes.

Some of the prominent trends in the Global Fish and Seafood Market:
– Greater awareness among consumers regarding environment friendly fishing methods.
– Increased prevalence of Aquaculture as a food-production process.
– Newer varieties of Fish and Seafood, on account of increased demand for them.
– Prospective growth in related e-commerce.

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