Key regions: Russia, China, Spain, Canada, United Kingdom
The Meat Market in Eastern Asia has been experiencing minimal growth due to various factors such as consumer preferences for alternative protein sources, increasing health concerns related to meat consumption, and market saturation. The sub-markets of Fresh Meat, Processed Meat, and Meat Substitutes have also contributed to this slow growth. The convenience offered by online meat sales has had a limited impact on the overall market, as traditional consumption methods remain prevalent in the region.
Customer preferences: As consumer awareness of sustainability and health concerns continues to grow, there has been a notable rise in demand for plant-based meat alternatives in Eastern Asia. This shift is driven by cultural preferences for plant-based diets, as well as concerns over the environmental impact and ethical considerations of traditional meat production. Additionally, the rise of flexitarian and vegan lifestyles among younger demographics is contributing to the growth of the plant-based meat market in this region.
Trends in the market: In Eastern Asia, the Meat Market within The Food market is experiencing a shift towards healthier and more sustainable options. Consumers are increasingly demanding ethically sourced and plant-based alternatives to traditional meat products. This trend is driven by concerns over animal welfare, environmental impact, and personal health. As a result, industry stakeholders are investing in research and development to meet these demands and stay competitive. This trajectory is expected to continue, with potential implications including a decrease in traditional meat consumption and an increase in alternative protein options in the market.
Local special circumstances: In Eastern Asia, the Meat Market within The Food market is heavily influenced by cultural preferences and regulations. In countries like China and Japan, there is a high demand for pork and seafood, while beef and lamb are more popular in countries like South Korea and Mongolia. This is due to historical and cultural factors, such as religious beliefs and traditional cuisine. Additionally, strict regulations on food safety and quality control in these markets have a significant impact on the production and distribution of meat, making it a unique and highly regulated market compared to other regions.
Underlying macroeconomic factors: The Meat Market within The Food market in Eastern Asia is greatly impacted by macroeconomic factors such as trade policies, consumer preferences, and government regulations. Countries with strong economic growth and stable political environments are experiencing a rise in demand for meat products, while those with economic challenges and political instability are facing a decline. Additionally, factors such as changing dietary patterns, rising health awareness, and increasing urbanization are driving the demand for high-quality, processed meat products in the region. Moreover, technological advancements and investments in food processing infrastructure are also contributing to the growth of the Meat Market within The Food market in Eastern Asia.
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.
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