Key regions: Russia, China, Spain, Canada, United Kingdom
The Meat Market in the Americas is experiencing minimal growth, impacted by factors such as increasing consumer demand for fresh and processed meat, as well as the growing popularity of meat substitutes. Despite this slow growth rate, the convenience and health awareness benefits offered by online meat services continue to drive market expansion.
Customer preferences: There has been a notable increase in demand for sustainable and ethically sourced meat products in the Americas. This trend is driven by consumer awareness of the environmental impact of traditional meat production and the desire for healthier and more humane options. Additionally, there has been a rise in plant-based and alternative meat products, catering to the growing number of vegetarians and flexitarians. This shift towards conscious consumption is also influenced by the rise of social media and the spread of information on animal welfare and sustainability.
Trends in the market: In the Americas, the Meat Market within The Food market is experiencing a shift towards plant-based meat alternatives, driven by increasing consumer demand for sustainable and healthier options. This trend is expected to continue as companies invest in research and development to improve the taste and texture of plant-based products. Additionally, the rise of e-commerce and direct-to-consumer sales channels has allowed smaller players to enter the market, posing a threat to traditional meat producers. This trend also has significant implications for industry stakeholders, such as potential changes in supply chain management and marketing strategies.
Local special circumstances: In the Americas, the Meat Market within The Food market is heavily influenced by cultural preferences and regulatory policies. In the United States, the demand for organic and sustainable meat products has been on the rise, leading to the growth of niche markets. In countries like Argentina and Brazil, where meat consumption is a cultural tradition, the market is driven by the high demand for quality and variety. Additionally, strict food safety regulations in these countries have led to the adoption of advanced processing and packaging techniques, resulting in a higher quality product for consumers.
Underlying macroeconomic factors: The Meat Market within The Food market in Americas is heavily influenced by macroeconomic factors such as economic growth, consumer spending, and government policies. With the region's strong economic growth and rising disposable income, there is a growing demand for high-quality, convenient, and sustainable meat products. Additionally, government initiatives to promote food safety and animal welfare are shaping market trends and driving innovation in the industry. However, the ongoing trade disputes and economic uncertainties in the region could potentially impact the market's growth and profitability.
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.
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