Key regions: Russia, China, Spain, Canada, United Kingdom
The Meat Market within The Food market in ASEAN has been experiencing minimal growth, influenced by factors such as changing consumer preferences, increasing health consciousness, and the emergence of alternative meat options. The sub-markets of Fresh Meat, Processed Meat, and Meat Substitutes play a significant role in shaping the overall market. However, slow economic growth and fluctuating prices of raw materials are impacting the market's growth rate.
Customer preferences: As consumers become more health-conscious, there has been a noticeable trend towards plant-based meat alternatives in the ASEAN region. This shift can be attributed to the rising awareness of the environmental impact of meat production and the growing popularity of vegetarian and vegan diets. In addition, there has been a growing demand for organic and ethically-sourced meat, driven by concerns about animal welfare and sustainable farming practices. This trend is expected to continue as consumers prioritize ethical and sustainable food choices.
Trends in the market: In ASEAN, the Meat Market within The Food market is seeing a shift towards sustainable and ethical production. Concerns over animal welfare and environmental impact have led to an increase in demand for plant-based alternatives and traceable meat sources. This trend is expected to continue, with consumers becoming more conscious of their food choices. Industry stakeholders should consider investing in sustainable practices and developing innovative meat substitutes to cater to this growing demand. Additionally, implementing transparency measures in the supply chain can enhance consumer trust and improve brand reputation.
Local special circumstances: In the ASEAN region, the Meat Market within The Food market is heavily influenced by the diverse cuisines and cultural preferences of each country. For example, in Thailand, the market is dominated by street food stalls and local markets, while in Indonesia, consumers tend to prefer halal-certified meat products. Additionally, regulatory differences, such as import restrictions and food safety standards, also play a significant role in shaping the meat market in each country. Furthermore, the geography of the region, with its varying climate and terrain, also impacts the supply and demand for different types of meat, such as seafood in coastal areas and poultry in more landlocked regions.
Underlying macroeconomic factors: The growth of the Meat Market within The Food market market is influenced by macroeconomic factors such as changing consumer preferences, government regulations, and economic stability. Countries with a high demand for meat and a stable economy are experiencing higher growth in the market compared to regions with economic instability and stricter regulations on meat production. Additionally, the rise in disposable income and urbanization in ASEAN countries has led to an increase in demand for meat products, driving the growth of 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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
