Food - Bosnia and Herzegovina

Bosnia and Herzegovina

Highlights

Revenue in the Food market amounts to US$4.43bn in 2024. The market is expected to grow annually by 4.22% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$918.10m in 2024.
In global comparison, most revenue is generated China (US$2tn in 2024).
In relation to total population figures, per person revenues of US$1.39k are generated in 2024.
In the Food market, 2.7% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 1.16bn kg by 2029. The Food market is expected to show a volume growth of 1.8% in 2025.0.
The average volume per person in the Food market is expected to amount to 333.90kg in 2024.

Key regions:

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 definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Food market in Bosnia and Herzegovina is experiencing minimal growth, influenced by factors such as changing consumer preferences, economic challenges, and competition from imported products, which affect the demand for local offerings and overall market dynamics.

Customer preferences: Consumers in Bosnia and Herzegovina are increasingly prioritizing health-conscious choices, leading to a rising demand for organic and locally sourced food products. This shift is influenced by a growing awareness of nutrition and wellness, particularly among younger demographics who value sustainability and ethical consumption. Additionally, urbanization is driving preferences for convenience, resulting in an uptick in ready-to-eat meals and online grocery shopping. Social media and food influencers are also shaping consumer tastes, promoting diverse culinary experiences and fusion cuisines.

Trends in the market: In Bosnia and Herzegovina, The Food market is experiencing a significant shift towards health-oriented consumption, with consumers increasingly seeking organic, locally sourced products that align with their wellness goals. This trend is particularly pronounced among younger consumers, who are prioritizing sustainability and ethical sourcing in their purchasing decisions. Concurrently, urban lifestyles are fueling demand for convenience, leading to a surge in ready-to-eat meal options and the popularity of online grocery shopping. Furthermore, the influence of social media and food bloggers is expanding culinary horizons, introducing diverse and fusion cuisines that resonate with evolving consumer palates. These trends present both challenges and opportunities for industry stakeholders, necessitating innovative approaches to product offerings and marketing strategies to meet changing consumer preferences.

Local special circumstances: In Bosnia and Herzegovina, The Food market is uniquely shaped by its rich agricultural heritage and diverse culinary traditions, which influence consumer preferences for traditional and organic products. The country's varied geography, from fertile plains to mountainous regions, supports a wide range of local produce, fostering a strong farm-to-table movement. Additionally, regulatory frameworks promoting organic farming are gaining traction, encouraging sustainable practices. Cultural ties to family and communal dining further drive interest in authentic, locally sourced ingredients, making these factors pivotal in shaping market dynamics and consumer behavior.

Underlying macroeconomic factors: The Food market in Bosnia and Herzegovina is influenced by macroeconomic factors such as national economic stability, agricultural policies, and global trade dynamics. Economic growth or decline directly affects consumer purchasing power and demand for food products. Favorable fiscal policies, including subsidies for local farmers and investments in rural development, enhance agricultural productivity and encourage sustainable practices. Moreover, global trends towards organic and health-conscious eating are shaping local consumer preferences. Currency stability and exchange rates also play critical roles, impacting the pricing of imported goods and overall market competitiveness.

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.