Fish & Seafood - Mongolia
Mongolia- Revenue in the Fish & Seafood Market is projected to reach US$******,****** in ****.
- Revenue is expected to show an annual growth rate (CAGR *********) of *****%, resulting in a projected market volume of US$******,****** by ****.
- With a projected market volume of US$******,*******.** in ****, most revenue is generated China.
- In the Fish & Seafood Market, the number of buyers is expected to amount to ******.* users by ****.
- Buyer penetration will be ***% in **** and is expected to hit ***% by ****.
- The average revenue per buyer (ARPB) is expected to amount to US$******.
- Key regions:
- India,
- Germany,
- Europe,
- China,
- United Kingdom
Definition:
The eCommerce market Fish & Seafood includes online sales of fresh, frozen, and processed fish and seafood. Ready-to-eat meals based on fish or seafood are not included in this market but can be found in the Convenience Food market.
Structure:
The eCommerce market for Fish & Seafood consists of three different markets:
- The Fresh Fish market includes all types of products made from fishes that has not been cooked, heated, dried, cured by brine or processed in any way other than boning, cutting, comminuting, or freezing. Fresh, chilled, or frozen fish that have been farmed or harvested from freshwater or the ocean are included in this market.
- The Fresh Seafood market contains all types of products made from crustaceans, mollusks, and other aquatic invertebrates that have not been cooked, heated, dried, cured by brine or processed in any way other than boning, cutting, comminuting, or freezing. Fresh, chilled, or frozen seafood that has been farmed or harvested from freshwater or the ocean are included in this market.
- The Processed Fish & Seafood market comprises all types of fish and seafood that have either been smoked, dried, canned, salted or given chemical preservatives.
Additional Information:
Fish & Seafood comprises revenues, buyers, average revenue per buyer (ARPB), and penetration rates. Revenues are derived from annual filings, national statistical offices, Google- and Alibaba-Trends and industry knowledge. Sales Channels show online and offline revenue shares, as well as, desktop and mobile sales distribution. Revenues are including VAT. The market only displays B2C revenues and buyers for the above-mentioned markets, hence C2C, B2B and reCommerce is not included. Additional definitions can be found on each respective market page.
Key players in the market are companies like Amazon, Tmall, JD, Taobao, Pinduoduo and Walmart.
Market numbers for the total market sizes (online + offline) can also be found on the respective pages of the Consumer Market Insights.
- Fresh and frozen fish such as Bumble Bee
- Fresh and frozen seafood such as SeaPak
- Processed fish and seafood such as Gorton's
- Fish-based ready-to-eat meals such as The Fish Society
Revenue
Analyst Opinion
The Fish & Seafood eCommerce market in Mongolia is experiencing considerable growth, fueled by factors such as increasing consumer preference for online shopping, a rising demand for fresh and processed seafood, and improved supply chain efficiencies enhancing product availability.
Customer preferences: Consumers in Mongolia are increasingly gravitating towards online platforms for purchasing fish and seafood, influenced by a growing awareness of health and wellness. This shift is marked by a rising preference for sustainably sourced and organic products, reflecting a deeper cultural appreciation for natural foods. Additionally, younger demographics, particularly urban dwellers, are embracing convenience, seeking quick and efficient online shopping experiences. This trend is further supported by social media, where seafood recipes and cooking tips are gaining popularity, driving demand for diverse seafood options.
Trends in the market: In Mongolia, the Fish & Seafood eCommerce market is experiencing a notable surge, driven by an increasing consumer preference for online shopping as health consciousness rises. This trend is characterized by heightened demand for sustainably sourced and organic seafood products, reflecting a cultural shift towards natural and wholesome foods. Furthermore, younger urban consumers are favoring the convenience of digital platforms for streamlined purchasing experiences. Social media is amplifying this trend, with seafood recipes and cooking tips gaining traction, ultimately influencing purchasing decisions and expanding market opportunities for stakeholders, including suppliers and retailers.
Local special circumstances: In Mongolia, the Fish & Seafood eCommerce market is influenced by its vast geographical terrain and traditional nomadic culture, which often limits access to fresh seafood. The country’s proximity to water bodies like Lake Khövsgöl fosters local fishing practices, but supply chain challenges persist due to infrastructure gaps. Additionally, the growing influence of global culinary trends is merging with local tastes, encouraging urban consumers to seek diverse seafood options online. Regulatory support for sustainable fishing practices is further driving consumer trust and market growth, positioning eCommerce as a vital channel in this evolving food landscape.
Underlying macroeconomic factors: The Fish & Seafood eCommerce market in Mongolia is significantly shaped by various macroeconomic factors, including national economic stability, consumer spending patterns, and global trade dynamics. As the economy gradually diversifies beyond traditional industries, disposable incomes are rising, enabling greater spending on premium seafood products. Additionally, fluctuations in global seafood prices and international supply chain disruptions can impact local market dynamics. The government's fiscal policies aimed at promoting sustainable fishing and enhancing food safety regulations foster consumer confidence. Moreover, urbanization trends are driving a shift towards online purchasing, further propelling the eCommerce sector in this niche market.
Sales Channels
Buyers
Global Comparison
Methodology
Data coverage:
Data refers to B2C enterprises. Figures are based on the sale of physical goods via a digital channel to a private end consumer. This definition encompasses purchases via desktop computers (including notebooks and laptops) as well as purchases via mobile devices (e.g., smartphones and tablets). The following are not included in the eCommerce market: digitally distributed services (see instead: eServices), digital media downloads or streams, digitally distributed goods in B2B markets, and the digital purchase or resale of used, defective, or repaired goods (reCommerce and C2C). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.Modeling approach / Market size:
Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Statista Global Consumer Survey), data on shopping behavior (e.g., Google Trends, Alibaba Trends), and performance factors (e.g., user penetration, price/product). Furthermore, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, internet penetration, and population. 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 particular market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, internet penetration, and population.Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the Russia/Ukraine war is considered at a country-specific level.Get in touch with us for additional information
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