Meat - Armenia | Statista Market Forecast

Revenue in the Meat market amounts to US$1.66bn in 2024. The market is expected to grow annually by 8.39% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$273bn in 2024).
In relation to total population figures, per person revenues of US$598.50 are generated in 2024.
In the Meat market, volume is expected to amount to 266.90m kg by 2029. The Meat market is expected to show a volume growth of 4.5% in 2025.0.
The average volume per person in the Meat market is expected to amount to 78.9kg in 2024.

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:

The Fresh Meat market covers meat from both domestic and wild animals that are fresh, chilled, or frozen. This market is divided into five submarkets: beef & veal, pork, mutton & goat, poultry, and other fresh meat.
The Processed Meat market covers all types of meat that has been dried, salted, brined, or smoked. This segment is divided into three subsegments: cold & roast meat products, ham & bacon, sausages.
The Meat Substitutes market covers meat-replacement food items created from vegetarian or vegan components.

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.

For more information on the displayed data, click the info button on the right side of each box.

Fresh Meat
Processed Meat
Meat Substitutes

Meat-based ready-to-eat meals
Out-of-home consumption

The Meat Market in Armenia has been experiencing minimal growth, influenced by factors such as changing consumer preferences, increased competition from meat substitutes, and limited access to digital technologies. Despite the convenience offered by online services, traditional markets for fresh and processed meat remain dominant in the country. This slow growth can also be attributed to the overall slow growth rate of The Food market in Armenia.

Customer preferences: As the demand for healthier and sustainable food options continues to rise in Armenia, there has been a notable shift towards plant-based protein alternatives in the Meat Market within The Food market market. This trend is being driven by the growing awareness of environmental and ethical concerns surrounding meat consumption, as well as a rise in flexitarian and vegan diets. Additionally, the younger generation, with their increasing purchasing power, are more likely to opt for plant-based options, indicating a potential long-term shift in consumer preferences.

Trends in the market: In Armenia, the Meat Market within The Food market is experiencing a shift towards more sustainable and ethical practices, with consumers becoming increasingly aware of the environmental and health impacts of meat consumption. This trend is expected to continue, with the adoption of alternative protein sources such as plant-based meats and cultured meat on the rise. This has significant implications for industry stakeholders, who will need to adapt to changing consumer preferences and invest in new technologies to stay competitive. Additionally, the government is encouraging the growth of local, organic meat production, providing opportunities for small-scale farmers and promoting food security.

Local special circumstances: In Armenia, the Meat Market within The Food market is influenced by the country's strong cultural traditions of meat consumption. Armenians have a preference for fresh, high-quality meat, leading to the popularity of local butchers and traditional meat dishes. Additionally, the geographical location of Armenia, with its mountainous terrain and harsh winters, has limited the development of large-scale industrial livestock farming. This has resulted in a reliance on small-scale, family-run farms, which has a significant impact on the supply and pricing of meat in the market.

Underlying macroeconomic factors: The Meat Market within The Food market in Armenia is heavily influenced by macroeconomic factors such as consumer income and spending, inflation rates, and trade policies. The country's recent economic growth has led to an increase in purchasing power and demand for high-quality meat products. However, the rising inflation rates and trade barriers can limit market growth. Moreover, the ongoing political tensions and regional conflicts can negatively impact the economy, leading to a decline in consumer confidence and spending. Therefore, it is crucial for meat market players to closely monitor these macroeconomic factors to make informed business decisions and navigate potential challenges in the market.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

In the past, many cultures considered meat a luxury that could only be enjoyed on special occasions or certain days of the week, while today it is a staple that can be found in nearly all restaurants and many kitchens all over the world. The market value of the meat industry is expected to rise from 897.5 billion U.S. dollars in 2021 to over 1.3 trillion dollars by 2027. In 2022, the United States saw the highest revenue from meat products and sausages, over five billion U.S. dollars more than the second largest meat market in the world, Germany with a revenue of over 33.6 billion U.S. dollars. France, Russia, and Mexico are finishing the top five countries with the biggest revenue from processed meats.