Market Insights Consumer Food Fish & Seafood

Fresh Seafood - Uruguay

Uruguay

Revenue in the Fresh Seafood market amounts to €130.80m in 2024. The market is expected to grow annually by 5.84% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€11,140m in 2024).
In relation to total population figures, per person revenues of €38.20 are generated in 2024.
In the Fresh Seafood market, volume is expected to amount to 3.95m kg by 2029. The Fresh Seafood market is expected to show a volume growth of 2.8% in 2025.
The average volume per person in the Fresh Seafood market is expected to amount to 1.1kg in 2024.

Key regions: South Korea, Canada, China, Japan, United States

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Fresh Seafood Market in Uruguay is steadily growing, driven by factors such as consumer demand for healthy food options, the convenience of online ordering, and the increasing popularity of seafood among locals. However, the market is currently facing minimal growth due to economic constraints and limited access to resources.

Customer preferences: With the growing popularity of health-conscious diets, consumers in Uruguay are increasingly seeking fresh and sustainably sourced seafood options. This trend is driven by a combination of cultural influences, as seafood is a staple in traditional Uruguayan cuisine, and a growing awareness of the benefits of incorporating more seafood into a healthy diet. As a result, there is a growing demand for locally sourced, high-quality seafood products that meet both taste and sustainability standards. This shift towards conscious consumption is also reflected in the rise of eco-friendly packaging and labeling in the Fresh Seafood Market of the Fish & Seafood Market within The Food market.

Trends in the market: In Uruguay, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is experiencing a trend towards sustainable seafood practices. This includes a shift towards responsibly sourced seafood and a focus on traceability and transparency in the supply chain. This trend is significant as consumers are becoming more conscious of their purchasing decisions and are demanding ethically and environmentally responsible options. Industry stakeholders must adapt to this trend by implementing sustainable practices and promoting transparency in their operations to meet consumer demands and maintain a competitive edge.

Local special circumstances: In Uruguay, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's coastal geography and strong fishing industry. This has led to a high demand for locally sourced seafood, with a focus on sustainability and quality. Additionally, the country's cultural tradition of incorporating seafood into its cuisine has created a strong market for both domestic consumption and export. Strict regulations on fishing practices have also contributed to the market's stability and reputation for high-quality seafood products.

Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market in Uruguay is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. The country's stable economic growth and favorable regulatory environment have led to increased investments in the fishing industry, driving market growth. Additionally, the rise in disposable income and changing consumer preferences towards healthier food options are also contributing to the demand for fresh seafood. However, fluctuations in currency exchange rates and trade policies can impact the cost of imported seafood, affecting market performance. Furthermore, the increasing awareness of sustainable fishing practices and environmental concerns are also shaping the market, as consumers demand ethically sourced seafood products.

Methodology

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.