Food - Luxembourg

Luxembourg

Revenue in the Food market amounts to US$2,435.00m in 2024. The market is expected to grow annually by 4.11% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$511.20m 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$3,681.00 are generated in 2024.
In the Food market, 7.4% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 370.50m kg by 2029. The Food market is expected to show a volume growth of 2.1% in 2025.
The average volume per person in the Food market is expected to amount to 513.90kg 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.

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Analyst Opinion

The Food market in Luxembourg is experiencing minimal growth, influenced by factors such as changing consumer preferences, increasing competition, and fluctuating prices. The market comprises various sub-segments, each with its unique dynamics. Factors such as changing dietary habits, growing health consciousness, and rising demand for convenience and specialty foods are shaping the overall market. However, challenges such as strict regulations, high production costs, and supply chain disruptions are impacting the market's growth rate.

Customer preferences: In Luxembourg's Food Market, there has been a noticeable shift towards sustainable and ethical consumption. Consumers are increasingly prioritizing products that align with their values, such as organic and fair trade options. This trend is also reflected in the rise of plant-based and vegan food products, as well as a growing interest in locally sourced and artisanal foods. Additionally, there is a growing demand for transparent and traceable supply chains, as consumers become more conscious of the environmental and ethical impact of their food choices.

Trends in the market: In Luxembourg, The Food market is experiencing a surge in demand for organic and locally sourced products, as consumers become increasingly conscious of their health and environmental impact. This trend is expected to continue, with major retailers investing in sustainable and ethical sourcing practices. Additionally, the rise of online grocery shopping and home delivery services is transforming the way people purchase and consume food. These developments have significant implications for industry stakeholders, including the need for greater transparency and traceability in the supply chain, as well as adapting to the growing demand for convenient and sustainable food options.

Local special circumstances: In Luxembourg, The Food market is heavily influenced by the country's high standard of living and disposable income. This has led to a strong demand for premium and organic food products. Additionally, Luxembourg's position as a global financial center has attracted a diverse expat population, resulting in a fusion of international cuisines and food preferences. Furthermore, the country's strict food safety regulations and emphasis on sustainable and local sourcing has shaped the market, with consumers placing a high value on quality and ethical practices.

Underlying macroeconomic factors: The Food market in Luxembourg is greatly impacted by macroeconomic factors such as consumer spending power, economic stability, and government policies. With a stable and prosperous economy, Luxembourg has a high level of consumer purchasing power, which fuels demand for high-quality food products. The government's strong focus on promoting healthy eating habits and support for local agriculture also drives market growth. Additionally, global trends such as increasing health consciousness and demand for organic and sustainable food products are shaping the market in Luxembourg.

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.