Thursday, 24 October 2013

Spanish Fish and Seafood Market: What Consumers Eat and Why?

ResearchMoz.us include new market research report "The Spanish Fish and Seafood Market: What Consumers Eat and Why?" to its huge collection of research reports.

Product Synopsis

This report provides the results for the Fish and Seafood market in Spain from Canadean's unique, highly detailed study of consumers' Consumer Packaged Goods (CPG) consumption habits, and forms part of an overall series covering all CPG product markets. Its coverage includes, but is not limited to, consumption behaviors, the extent to which consumer trends influence their consumption, the value of the market these trends influence, and brand and private label choices as well as retailer choices. Much of this information can also be analyzed by specific consumer group, providing hard and fast data on consumers and markets at the product category level.
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Introduction and Landscape
Why was the report written?
Marketers in the Fish and Seafood market face a major challenge. Understanding market size and segmentation is valuable, but the key to effective targeting is to know just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends. This data report solves these problems by providing survey-based data on consumer trends, consumer groups and market data which shows the exact size of consumer groups, how much of the Fish and Seafood market they account for and which consumer trends drive their behavior.

What is the current market landscape and what is changing?
Most Fish and Seafood categories are already well-established in Spain, and outside of population trends the opportunities for volume growth appear limited, unless innovations can find areas of latent demand. Instead the Fish and Seafood industry should seek to find ways of offering greater value to Spanish consumers in order to drive value growth. However, this will be difficult given the weak state of the Spanish economy and its low consumer confidence.

What are the key drivers behind recent market changes?
Consumers' uptake of products and the influence of consumer trends are fundamental causes of change in markets - making knowing what these trends are and the extent of their influence crucial. The survey-based data provided in this report examines over 20 consumer trends that affect the market and examines the share of consumption across 26 consumer groups. This data provides a detailed insight into exactly who the consumer is and just how much impact the latest consumer trends are having.
 
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What makes this report unique and essential to read?

The data provided is unique in the market as it tracks consumer behavior through to its actual value impact on a product market. This provides readers with a unique data-analysis of the market, allowing marketing tactics and strategy to be updated in line with the very latest consumer behaviors.

Key Features and Benefits

Consumer data based upon proprietary surveys and then consumer group tracking and modeling for the following specific categories: Ambient Fish and Seafood, Dried Fish and Seafood, Fresh Fish and Seafood (counter), Frozen Fish and Seafood, Raw Packaged Fish and Seafood - Processed Pieces, and Raw Packaged Fish and Seafood - Whole Cuts.

Detailed consumer segmentation based on survey data covering over 26 consumer groups, 20 consumer trends, and consumption frequency for each product category.

Consumer Penetration for brands and private labels, based upon the original survey and then subsequent consumer tracking and modeling

Unique retailer choice data at the product category level, based upon the original survey and then subsequent consumer tracking and modeling.

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Key Market Issues

In several categories there is a noticeable reduction in the share of users (across all user groups) for the Early Young Adult age groups. This age range appears to be one where consumption habits from childhood and teenage years are reassessed and consumers are being lost to certain categories at this age range as a result.

Older Consumers represent almost 30% of the population in Spain; however, over 33% of the Fresh Fish market by value is consumed by them. Marketers need to focus campaigns on encouraging Fresh Fish consumption in the younger generations, in order to not lose value as these consumers age, at the same time as maintaining their current consumer base.

Consumption of Fish and Seafood in Spain is fairly evenly split between Males and Females. However, in the Dried Fish category there is a much higher proportion of Male consumption. Marketers need to be aware of this gender bias so that they can encourage Female consumption to improve market value in this currently small market.

Key Highlights

Private Label products have a significant penetration in the Fish and Seafood market in Spain across all categories. The level of penetration is around 30% in all but Dried Fish where it is closer to 75%. In the remaining categories there are one or two main brands and the rest of the market is fragmented so there is room for Private Label to grow further. Marketers of national brands need to maintain their focus in order to avoid becoming a target for Private Label competition.

Fresh Fish and Seafood has the largest share of the Fish and Seafood market in Spain followed by Ambient Fish and Seafood, and Raw Packaged Fish and Seafood - whole cuts. With the exception of the much smaller Dried Fish and Seafood market the remaining categories have slightly smaller but similar shares. Any changes in consumption rates in these larger markets will have a significant effect on market values and shares.

Not only do a large proportion of Spanish consumers, in certain categories at least, highlight that specific consumer trends have an influence on their consumption, this translates into a significant proportion of actual value being directly influenced as well. Consumers are therefore acting on these trends enough to ensure that targeting them, in the right categories, is essential to success.

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