Food - Azerbaijan

Azerbaijan

Revenue in the Food market amounts to US$13.37bn in 2024. The market is expected to grow annually by 6.91% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$2.52bn in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$1,278.00 are generated in 2024.
In the Food market, 2.1% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 3,961.00m kg by 2029. The Food market is expected to show a volume growth of 2.4% in 2025.
The average volume per person in the Food market is expected to amount to 342.90kg in 2024.

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

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Food market in Azerbaijan has been experiencing minimal growth, influenced by factors such as the country's limited resources for food production, changing consumer preferences, and the impact of global economic conditions. Despite this slow growth, the sub-markets of Dairy Products & Eggs, Meat, Fish & Seafood, and Fruits & Nuts continue to dominate, driven by the increasing demand for healthy and nutritious food options. Additionally, the convenience offered by online food delivery services and the rise of convenience food products have also contributed to the market's growth. Nevertheless, the market is facing challenges such as food safety concerns and stricter regulations, which may impact its growth rate in the future.

Customer preferences: The growing middle class in Azerbaijan has led to an increase in demand for high-quality, convenient food options. As a result, there has been a rise in the popularity of food delivery services and online grocery shopping. Additionally, there is a growing demand for healthier and more sustainable food choices, influenced by global trends and a growing awareness of the impact of food production on the environment. This has led to an increase in the availability of organic and locally-sourced food products in the market.

Trends in the market: In Azerbaijan, The Food market is experiencing a rise in demand for organic and locally-sourced products, as consumers become more health-conscious and environmentally aware. This trend is expected to continue as the government promotes sustainable agriculture and supports small-scale producers. Additionally, there is a growing trend towards online grocery shopping and food delivery services, with companies investing in technology and logistics to meet this demand. These developments have significant implications for industry stakeholders, who must adapt to changing consumer preferences and invest in modernizing their operations to stay competitive.

Local special circumstances: In Azerbaijan, The Food market is heavily influenced by the country's geographical location, as it serves as a key trading hub between Europe and Asia. This has led to a diverse range of food products being available in the market, catering to different tastes and preferences. Additionally, the country's rich cultural heritage has a major influence on The Food market, with traditional dishes and ingredients being highly sought after. Moreover, government regulations and initiatives promoting local food production have further shaped the dynamics of the market, leading to a growing demand for locally sourced and organic products.

Underlying macroeconomic factors: The Food market in Azerbaijan is heavily influenced by macroeconomic factors such as the country's economic stability, government policies and regulations, and investments in the food industry. Global economic trends, such as shifts in consumer preferences and increasing demand for sustainable and organic food products, also play a significant role in shaping the market. Moreover, factors such as rising disposable income, urbanization, and a growing middle class in Azerbaijan are driving the demand for quality and diverse food options, leading to the growth of The Food market.

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.