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The Romania - Fish and Seafood Market size is projected to increase by USD 219.57 million and the market size is estimated to grow at a CAGR of 6.84% between 2023 and 2028.
The report includes a comprehensive outlook on the Romania fish and seafood market offering forecasts for the industry segmented by Distribution Channel, which comprises hypermarkets and supermarkets, convenience stores, food and drinks specialists, and others. Additionally, it categorizes Product into fresh and chilled, ambient fish and seafood, frozen fish and seafood, and others and covers Type, including fish, crustaceans, mollusks and thers. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
Rising demand for processed seafood is notably driving the market growth. Seafood is rich in essential nutrients, especially proteins, vitamins, and minerals, and is the staple diet in many geographies and cultures across the globe. Cooking fresh seafood is often cumbersome. Processed seafood combines health and convenience at an extra cost to the consumer. Further, consumers with hectic lifestyles prefer ready-to-cook products that save cooking time. Processed seafood products help consumers to save time and energy. Thus, consumers can utilize the extra time as per their choice. In Romania, around 68% of the total fish and seafood consumed is processed. Ambient fish and seafood are the most consumed processed seafood and are widely available across supermarkets, hypermarkets, and convenience stores. In addition, companies are increasing their processing capacity to meet the growing demand for processed fish and seafood products in Romania. Thus, the increasing prominence of land-based aquaculture is expected to drive the growth of the market during the forecast period.
The Romania Fish and Seafood Market shows an accelerated CAGR during the forecast period.
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The emergence of sustainable fishing practices is an emerging trend shaping the market growth. Aquaculture is the cultivation of fish or aquatic plants for food. With the increasing awareness about the health benefits of seafood consumption, the demand for seafood is increasing in Romania. The growing consumer demand for seafood has resulted in a growth in aquaculture for increasing the production of fish. In addition to aquaculture, seafood retailers in Romania - fish and seafood market are trying to find alternative solutions for increasing the sustainability of seafood fishing.
Moreover, these efforts include reducing waste and increasing the amount of catch for human consumption. Thus, with the rising concern about sustainable fishing and an increase in the demand for seafood globally, efforts to promote sustainable fishing and seafood consumption are expected to increase, thereby driving the market during the forecast period.
The lack of adequate facilities in the fish and seafood market is a significant challenge hindering market growth. The underdeveloped infrastructure of fodder warehouses, storerooms, and technological roads challenge the growth of the Romania - fish and seafood market. Moreover, the lack of adequate cold storage facilities hinders the growth of the market. Since fish and other seafood are perishable, proper handling is mandatory. Improper handling can lead to contamination of the entire lot. Cold storage and cold chain facilities with improved infrastructure can help minimize spoilage and retain the freshness of food for a longer period. Improper handling leads to deterioration in fish quality because of the action of certain enzymes and bacteria, which sometimes contaminate the whole freight.
As a result, proper cold storage and logistics management are required to reduce spoilage. Cold storage not only increases the shelf life of fish and seafood products but also retains freshness. Therefore, the above-mentioned factors are expected to impact the growth of the Romania fish and seafood market during the forecast period.
In 2023, the fresh and chilled segment accounted for a significant revenue share of the fish and seafood market in Romania. It is expected to register a steady growth rate during the forecast period. Rising health consciousness, increased demand for quality food, and changing demographics are some of the drivers of the segment. However, chilling is a popular method of storage as low temperature reduces the risk of contamination and spoilage. Fresh seafood has amazing flavour, texture, and cooking adaptability when it is at its most optimal state. Thawing is not required prior to cooking. Unlike freshly farmed seafood, which is frequently harvested and available year-round, fresh seafood usually reflects seasonal harvests, allowing one to enjoy a species in its prime. Thus, the growth of the fresh and chilled segment is expected to fuel the growth of the Romania fish and seafood market during the forecast period.
The market share growth by the hypermarkets and supermarkets segment will be significant during the forecast period. In 2023, the hypermarkets and supermarkets segment accounted for the largest revenue share of the Romania - fish and seafood market. Romania has been an attractive trade and investment destination in SouthEastern Europe.
The hypermarkets and supermarkets segment was the largest and was valued at USD 226.77 million in 2018
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Additionally, the retail sector in Romania could benefit from several factors, such as growing wages, falling interest rates, low inflation, and improving labour-market conditions. Hypermarkets and supermarkets provide flexibility and convenience to choose from a wide array of products at discounted prices and offer an excellent shopping experience to consumers. The major supermarket chains in Romania are also focusing on investing in new store concepts and renovating the existing stores to suit urban consumer preferences. They are also emphasizing the improvement of product offerings by customizing store layouts and introducing new premium private labels. Thus, the hypermarkets and supermarkets segment contribute largely towards the growth of the Romania fish and seafood market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The Romania Fish and Seafood Market report also includes detailed analyses of the competitive landscape of the market and information about 8 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Romania Fish and Seafood Market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Romania Fish and Seafood Market Scope |
|
Report Coverage |
Details |
Page number |
135 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.84% |
Market Growth 2024-2028 |
USD 219.57 million |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
5.99 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Dayseaday Group, SC Ocean Fish SRL, SC RADAN IMPEX SA, Raionul De Peste, Romfish Marina SRL, SC Macromex SRL, Deltaica Seafood SRL, and NORDIC IMPORT EXPORT CO SRL |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Market Segmentation by Type
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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