Meat - Equatorial Guinea

Equatorial Guinea

Revenue in the Meat market amounts to US$356.70m in 2024. The market is expected to grow annually by 5.83% (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$203.20 are generated in 2024.
In the Meat market, volume is expected to amount to 39.31m kg by 2029. The Meat market is expected to show a volume growth of 4.4% in 2025.
The average volume per person in the Meat market is expected to amount to 19.4kg in 2024.

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

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Analyst Opinion

The Meat market in Equatorial Guinea is experiencing slow growth due to various factors such as limited access to digital technologies, low health awareness among consumers, and lack of convenience in online meat services. This is reflected in the negligible growth rate of the overall market, with sub-markets like Fresh Meat, Processed Meat, and Meat Substitutes also being impacted.

Customer preferences: As consumers in Equatorial Guinea become more health-conscious, there is a noticeable trend towards the consumption of leaner cuts of meat and organic options. This is in line with the growing global movement towards sustainable, ethical and healthy food choices. Additionally, there has been a rise in demand for locally sourced meat products, as consumers prioritize supporting local businesses and reducing their carbon footprint. This shift towards more conscious and mindful meat consumption is also influenced by the cultural importance of food and traditional methods of preparation in Equatorial Guinea.

Trends in the market: In Equatorial Guinea, the Meat Market within The Food market industry is experiencing a surge in demand for locally sourced and organic meats. This trend is driven by the growing awareness of health and sustainability among consumers. As a result, more local farmers and butchers are entering the market, offering a wider range of options for consumers. This trajectory is likely to continue, as consumers prioritize healthy and sustainable food options. However, this may also pose challenges for larger meat producers who may struggle to compete with the increasing popularity of local and organic meats. Industry stakeholders may need to adapt their production and marketing strategies to meet changing consumer preferences.

Local special circumstances: In Equatorial Guinea, the Meat Market within The Food market is heavily influenced by the country's geographical and cultural factors. Due to the country's tropical climate and limited access to resources, traditional methods of preserving and cooking meat are prevalent, leading to a unique flavor profile in the market. Additionally, regulatory restrictions on importing meat have resulted in the development of local meat production and processing industries, creating a competitive market with a focus on quality and sustainability.

Underlying macroeconomic factors: The Meat Market within The Food market in Equatorial Guinea is impacted by macroeconomic factors such as the country's overall economic health, government fiscal policies, and global economic trends. Favorable economic conditions, such as strong GDP growth and stable inflation rates, can lead to increased consumer spending and a higher demand for meat products. Additionally, government policies that support the development of the meat industry, such as investment in infrastructure and trade agreements, can also positively impact market growth. On the other hand, economic downturns or unstable economic conditions can result in reduced consumer spending and a decline in market performance. Furthermore, fluctuations in global meat prices and trade policies can also affect the supply and demand of meat products in the country.

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.