Meat - Benin

Benin

Revenue in the Meat market amounts to US$1,093.00m in 2024. The market is expected to grow annually by 6.85% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (US$273bn in 2024).
In relation to total population figures, per person revenues of US$75.56 are generated in 2024.
In the Meat market, volume is expected to amount to 148.70m kg by 2029. The Meat market is expected to show a volume growth of 4.4% in 2025.
The average volume per person in the Meat market is expected to amount to 8.4kg in 2024.

Key regions: Russia, China, Spain, Canada, United Kingdom

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Analyst Opinion

The Meat Market in Benin is seeing steady growth due to factors such as increasing demand for fresh and processed meat, rising awareness about healthy eating, and the convenience of online meat substitutes. However, minimal growth is being impacted by challenges such as limited access to technology and infrastructure, as well as cultural and dietary preferences for traditional meats.

Customer preferences: As consumer awareness and concern for sustainable and ethical food production grows, there has been a rise in demand for locally sourced and organic meat products in the Benin market. This trend is also reflected in the increasing popularity of alternative protein sources, such as plant-based meat substitutes, as consumers become more health-conscious and environmentally aware. The emergence of online grocery shopping and delivery services has also made it easier for consumers to access these products, further driving the shift towards more sustainable and ethical meat choices.

Trends in the market: In Benin, the Meat Market within The Food market is seeing a shift towards more sustainable and ethical practices. Consumers are increasingly demanding transparency and traceability in the meat supply chain, leading to a rise in certifications for organic and grass-fed meat. This trend is significant as it addresses concerns over animal welfare and environmental impact. It also presents opportunities for industry stakeholders to differentiate themselves and tap into the growing demand for sustainable products. Additionally, the rise of e-commerce platforms in Benin has made it easier for consumers to access ethically-sourced meat products, further driving the trajectory of this trend.

Local special circumstances: In Benin, the Meat Market within The Food market is heavily influenced by the country's cultural traditions and geographical location. Meat is a staple in Beninese cuisine, and the market is dominated by locally-sourced, organic options. Additionally, Benin's tropical climate and proximity to the ocean make it a prime location for fishing, providing a diverse range of seafood options in the Meat Market. The government's strict regulations on meat quality and safety also play a significant role in shaping the market, ensuring consumer trust and driving demand for high-quality, locally-sourced meat products.

Underlying macroeconomic factors: The Meat Market within The Food market in Benin is greatly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. The market is heavily influenced by the country's overall economic stability and government policies that affect the food industry. Additionally, global economic trends and fluctuations in food prices can greatly impact the performance of the Meat Market, as well as the overall demand for meat products. Other relevant financial indicators such as consumer spending, inflation rates, and exchange rates also play a significant role in shaping the market. Moreover, the increasing urbanization and rising middle-class population in Benin are driving the demand for meat products, creating potential opportunities for market growth.

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.