Key regions: Russia, China, Spain, Canada, United Kingdom
The Meat Market in Bosnia and Herzegovina has seen a slow growth rate due to factors such as limited consumer awareness and traditional eating habits. However, increased health concerns and the convenience of online meat services may drive future growth in the Fresh, Processed, and Meat Substitute sub-markets.
Customer preferences: One notable trend in the Meat Market within The Food market in Bosnia and Herzegovina is the rise in demand for organic and locally sourced meat products. This shift is driven by a growing awareness of the health and environmental benefits of consuming organic meat, as well as a desire to support local farmers and businesses. Additionally, there is a growing preference for leaner and healthier meat options, such as chicken and fish, as consumers become more health-conscious. This trend is also influenced by the increasing number of people adopting vegetarian or flexitarian diets. As a result, there has been a decrease in the consumption of red meat, particularly among younger generations.
Trends in the market: In Bosnia and Herzegovina, the Meat Market within The Food market is experiencing a shift towards more sustainable and ethically-sourced meat products. With a growing awareness of the impact of industrialized farming on the environment and animal welfare, consumers are seeking out local, organic, and free-range options. This trend is expected to continue as consumers become more conscious of their food choices and demand transparency from industry stakeholders. This may lead to changes in production and sourcing practices, as well as a potential increase in prices for these premium products.
Local special circumstances: In Bosnia and Herzegovina, the Meat Market within The Food market is heavily influenced by the country's rich cultural heritage and traditional cuisine. The demand for high-quality, ethically-sourced meat products is driven by the preference for local, organic ingredients in traditional dishes. Additionally, strict regulations on meat processing and labeling ensure food safety and quality standards are met. These unique factors make the market highly competitive and challenging for foreign players to enter.
Underlying macroeconomic factors: The Meat Market within The Food market in Bosnia and Herzegovina is impacted by macroeconomic factors such as national economic health and fiscal policies. The country's overall economic stability and growth potential can affect consumer spending and demand for meat products. Additionally, global economic trends and trade policies can also impact the availability and cost of meat imports, ultimately influencing market performance. Government regulations and investment in the agriculture and food industry also play a crucial role in shaping the meat market. Finally, factors such as population growth and changing dietary preferences can influence market demand and supply dynamics.
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)
