Meat - Bosnia and Herzegovina | Statista Market Forecast

Revenue in the Meat market amounts to US$918.10m in 2024. The market is expected to grow annually by 3.88% (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$287.40 are generated in 2024.
In the Meat market, volume is expected to amount to 102.30m kg by 2029. The Meat market is expected to show a volume growth of 1.3% in 2025.0.
The average volume per person in the Meat market is expected to amount to 30.3kg 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.

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Fresh Meat
Processed Meat
Meat Substitutes

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

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.

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.