Food - Georgia

Georgia

Revenue in the Food market amounts to US$3,248.00m in 2024. The market is expected to grow annually by 7.30% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$668.10m 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$873.70 are generated in 2024.
In the Food market, 4.8% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 1,160.00m kg by 2029. The Food market is expected to show a volume growth of 5.3% in 2025.
The average volume per person in the Food market is expected to amount to 262.00kg 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 Georgia is experiencing minimal growth, influenced by factors such as the growing demand for convenience food and the increasing awareness of healthy eating habits. Online services and the availability of a wide range of products in various sub-markets also contribute to this growth. The market is expected to continue growing as consumers' preferences shift towards healthier and more convenient options.

Customer preferences: Consumers in the Georgia food market are increasingly prioritizing convenience and health-conscious options. As a result, there has been a surge in demand for meal delivery services and plant-based alternatives, reflecting a growing interest in sustainable and plant-based diets. Additionally, there has been a shift towards locally sourced and organic products, as consumers prioritize supporting small businesses and sustainable farming practices. This trend is also driven by a desire for transparency and traceability in the food supply chain.

Trends in the market: In Georgia, The Food market industry is experiencing a growing demand for locally sourced and organic products. This trend has been fueled by increasing consumer awareness of the health and environmental benefits of such products. Additionally, there has been a rise in online grocery shopping and delivery services, providing convenience and accessibility to customers. This trend is expected to continue, with potential implications for industry stakeholders, such as the need for increased investment in sustainable farming practices and e-commerce infrastructure. Furthermore, there may be an increase in competition among retailers to offer unique and high-quality products to cater to this demand. Overall, these trends demonstrate a shift towards a more health-conscious and digitally-driven food market in Georgia.

Local special circumstances: In Georgia, The Food market is heavily influenced by the state's agricultural landscape and strong farming traditions. This has led to a local focus on fresh, locally-sourced ingredients and a thriving farmers market scene. Additionally, Georgia's rich culinary history and diverse cultural influences have contributed to a unique blend of flavors and dishes in The Food market. The state's regulatory environment also plays a role, with a focus on health and safety standards for food production and distribution. All of these factors work together to create a dynamic and thriving food market in Georgia.

Underlying macroeconomic factors: The Food market in Georgia is heavily impacted by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. The performance of the market is closely tied to the overall health of the economy, as well as fiscal policies that affect consumer spending and business operations. Additionally, any changes in trade agreements or tariffs can significantly impact the market, as Georgia relies heavily on imports for its food supply. The country's GDP and inflation rates also play a crucial role in the growth and profitability of The Food market. Overall, a stable and healthy macroeconomic environment is essential for the growth and success of The Food market in Georgia.

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.