Definition:
The Meat market covers animal (both domestic and wild) and non-animal meat that are bought and consumed for nutrient-based purposes.
Structure:
The market consists of 3 different submarkets:
Additional Information:
The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), 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.
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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The APAC Meat Market is experiencing minimal growth due to various factors, including changing consumer preferences towards healthier food options and increasing availability of meat substitutes. The sub-markets of Fresh Meat, Processed Meat, and Meat Substitutes are all impacted by these trends, leading to slower overall growth.
Customer preferences: The growing popularity of plant-based diets and concern for animal welfare is driving the demand for alternative meat products in APAC. This trend is particularly evident in countries with large Buddhist populations, where vegetarianism is a cultural norm. Additionally, the rise of flexitarianism, where individuals reduce their meat consumption for health and environmental reasons, is also contributing to the growth of the meat alternatives market. This shift towards healthier and more sustainable food choices is expected to continue in the coming years.
Trends in the market: In APAC, there is a growing demand for plant-based meat alternatives, driven by increasing health and environmental concerns. This trend is expected to continue with the rise of flexitarian and vegan diets, and the introduction of innovative products such as lab-grown meat. In addition, there is a focus on food safety and traceability, leading to the implementation of blockchain technology in the meat industry. These trends have significant implications for industry stakeholders, as they must adapt to changing consumer preferences and invest in sustainable and technologically advanced production methods.
Local special circumstances: In APAC, the Meat Market within The Food market is heavily influenced by geographical factors such as climate and terrain. Countries such as Japan and South Korea have a strong tradition of consuming meat, while countries like India and Indonesia have a large vegetarian population. This has created a diverse market for meat, with varying demand and consumption patterns. Cultural factors also play a role, with religious beliefs and cultural traditions impacting the types of meat consumed. Additionally, regulatory circumstances, such as import and export policies, can greatly impact the availability and pricing of meat products in the APAC region. These unique local factors contribute to the dynamic and ever-changing nature of the Meat Market within The Food market in APAC.
Underlying macroeconomic factors: The Meat Market within The Food market market in APAC is heavily impacted by macroeconomic factors such as economic growth, consumer spending patterns, and government policies. Countries with strong economic growth and rising disposable incomes, such as China and India, are experiencing a surge in demand for meat products, particularly premium and organic varieties. Additionally, governments in the region are implementing policies to support the growth of the meat industry, such as subsidies for livestock farmers and investments in infrastructure. However, rising concerns about environmental sustainability and animal welfare are also influencing market dynamics, as consumers become more conscious of their food choices and demand for ethically produced meat.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights