Meat - Colombia

Colombia

Revenue in the Meat market amounts to US$10.68bn in 2024. The market is expected to grow annually by 6.04% (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$202.00 are generated in 2024.
In the Meat market, volume is expected to amount to 2,074.00m kg by 2029. The Meat market is expected to show a volume growth of 2.8% in 2025.
The average volume per person in the Meat market is expected to amount to 34.4kg in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Meat Market within The Food market in Colombia has seen minimal growth in recent years, influenced by factors such as changing consumer preferences, increasing competition, and strict government regulations. The sub-markets of Fresh Meat, Processed Meat, and Meat Substitutes all play a role in shaping the overall market's growth rate. Additionally, economic factors, such as inflation and fluctuations in currency exchange rates, can also impact the market's performance. Despite these challenges, the Meat Market in Colombia continues to offer a wide range of options for consumers, catering to their diverse tastes and preferences.

Customer preferences: In Colombia, there has been a growing shift towards plant-based diets and sustainable meat consumption. This is driven by a combination of cultural factors, such as the country's strong agricultural tradition, and environmental concerns surrounding the meat industry. As a result, there has been a rise in demand for alternative protein sources, including plant-based meats and locally sourced meats. This trend is also influenced by the increasing popularity of health and wellness lifestyles, with consumers seeking healthier and more sustainable options in their food choices.

Trends in the market: In Colombia, the Meat Market within The Food market is experiencing a surge in demand for organic and sustainably sourced meat products. This trend is driven by consumers' growing awareness of the environmental and ethical implications of their food choices. As a result, industry stakeholders are investing in sustainable farming practices and implementing traceability measures to meet this demand. This trajectory towards sustainable meat production has the potential to positively impact the environment and improve the reputation of the industry. Additionally, it presents opportunities for market differentiation and brand loyalty for companies that prioritize sustainability.

Local special circumstances: In Colombia, the Meat Market within The Food market is heavily influenced by the country's diverse geography, which allows for various types of meat production. Additionally, cultural preferences for meat, such as the popularity of traditional dishes like bandeja paisa, drive demand for specific types of meat. Regulatory factors, such as strict import regulations, also play a role in shaping the market. This unique combination of geographical, cultural, and regulatory influences creates a dynamic and competitive Meat Market within The Food market in Colombia.

Underlying macroeconomic factors: The Meat Market within The Food market in Colombia is greatly influenced by macroeconomic factors such as the country's economic stability, government policies, and global trade agreements. Colombia's growing economy and increasing consumer spending power have resulted in a higher demand for meat products, driving market growth. Additionally, the implementation of trade agreements, such as the U.S.-Colombia Free Trade Agreement, has opened up new export opportunities for Colombian meat producers. However, challenges such as inflation and currency fluctuations could potentially impact market performance. The meat market is also affected by trends in health and wellness, as consumers are becoming more conscious about their meat consumption and are seeking healthier and more sustainably produced options.

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.