Food - EAEU | Statista Market Forecast

Food - EAEU

EAEU

Highlights

Revenue in the Food market amounts to US$335.70bn in 2024. The market is expected to grow annually by 7.27% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$71.42bn 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$1.84k are generated in 2024.
In the Food market, 1.4% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 88.97bn kg by 2029. The Food market is expected to show a volume growth of 2.2% in 2025.0.
The average volume per person in the Food market is expected to amount to 438.50kg 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 EAEU is facing subdued growth due to various factors such as increasing consumer preference for organic and healthy food products, rising competition from local and international players, and changing consumer trends towards convenience and on-the-go food options. Despite the slow growth, the market is expected to experience significant growth in the coming years, driven by the increasing demand for dairy products, meat, and convenience food. This growth can also be attributed to the rising health awareness among consumers and the convenience offered by online food services. Efforts by governments to promote domestic production and reduce import dependency are also expected to impact the market positively.

Customer preferences: Consumers in the EAEU region are increasingly prioritizing convenient and healthy food options, leading to a rise in demand for organic and natural products. This trend is driven by a growing awareness of the benefits of a healthy diet and a desire for sustainable and ethical food choices. Additionally, the popularity of online shopping and food delivery services has made it easier for consumers to access a wider range of healthy products. This shift towards healthier and more convenient food options is expected to continue, with consumers valuing both the health benefits and convenience of these products.

Trends in the market: In the EAEU, The Food market is experiencing a rise in demand for organic and locally-sourced products. This trend is driven by consumers' increasing awareness of the health and environmental benefits of such products. In addition, there is a growing preference for convenience and online shopping, leading to the development of e-commerce platforms for food products. This trend is expected to continue, with potential implications for industry stakeholders such as increased competition and the need to adapt to changing consumer preferences. Moreover, there is a potential for international trade opportunities as EAEU countries work towards harmonizing food safety and quality standards.

Local special circumstances: In the EAEU region, The Food market is heavily influenced by the unique regulatory circumstances in each member state. For example, in Russia, the government heavily regulates food imports and has implemented strict food safety regulations. In Kazakhstan, the market is heavily influenced by the country's large agricultural sector and its focus on promoting domestic production. In Armenia, the market is driven by the country's traditional cuisine, with a strong demand for locally sourced and organic products. These local factors play a significant role in shaping The Food market dynamics in the EAEU region.

Underlying macroeconomic factors: The Food market market in the EAEU is heavily influenced by macroeconomic factors such as trade policies, currency exchange rates, and government subsidies. Countries with strong economic growth and stable political environments are experiencing higher demand for food products, leading to increased market performance. On the other hand, countries with economic instability and high inflation rates may experience a decrease in market demand. Additionally, the increasing focus on food safety and quality standards, as well as the growing popularity of organic and healthy food options, are also driving the growth of The Food market market in the EAEU.

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.