Meat - Cuba

  • Cuba
  • Revenue in the Meat market amounts to US$4,719.00m in 2024. The market is expected to grow annually by 6.01% (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$422.30 are generated in 2024.
  • In the Meat market, volume is expected to amount to 493.30m kg by 2029. The Meat market is expected to show a volume growth of 3.4% in 2025.
  • The average volume per person in the Meat market is expected to amount to 39.1kg in 2024.

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

 
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Analyst Opinion

The Meat Market in Cuba is experiencing minimal growth, influenced by factors such as limited access to technology, traditional culinary habits, and government regulations. However, there is increasing demand for healthier and sustainable meat options, leading to growth in the sub-markets of Fresh Meat, Processed Meat, and Meat Substitutes. Government initiatives to promote local meat production and address supply chain issues may also impact the market's growth rate.

Customer preferences:
The Meat Market within The Food market is experiencing a shift towards healthier options, as consumers are becoming more health-conscious and aware of the impact of their food choices on the environment. This has led to an increase in demand for organic, grass-fed, and sustainably sourced meat products. Additionally, with the rise of plant-based diets and flexitarianism, there is a growing demand for alternative protein sources such as plant-based meats. This trend is driven by a combination of factors, including ethical concerns, health considerations, and a desire for more diverse and sustainable food options.

Trends in the market:
In Cuba, the Meat Market within The Food market is experiencing a shift towards more sustainable and ethical practices. This trend is driven by consumer demand for transparency and accountability in the production and sourcing of meat products. As a result, there is a growing number of small-scale, locally-sourced meat producers and a decrease in imported meat products. This trend has significant implications for industry stakeholders, as it requires them to adapt their practices to meet consumer preferences and stay competitive in the market. Furthermore, it highlights the importance of environmental and social responsibility in the food industry.

Local special circumstances:
In Cuba, the Meat Market within The Food market is heavily influenced by the country's agricultural practices and limited access to imported goods. The government's regulations on meat production and distribution play a significant role in shaping the market, making it unique from other markets. Additionally, cultural preferences for certain types of meat and traditional cooking methods also impact market dynamics. This has led to the rise of local butchers and street markets as primary sources of meat for consumers.

Underlying macroeconomic factors:
The Meat Market within The Food market in Cuba is heavily influenced by macroeconomic factors such as trade policies, agricultural production, and consumer spending. Cuba's centrally planned economy and government control over the distribution of goods and services have resulted in limited access to imported meats and limited investment in the domestic meat industry. However, recent economic reforms and increasing foreign investments have led to an expansion of the meat market. Additionally, the rising tourism industry and growing middle class in Cuba are driving demand for higher quality and diverse meat products, creating 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.

Overview

  • Revenue
  • Volume
  • Price
  • Sales Channels
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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