Key regions: Russia, China, Spain, Canada, United Kingdom
The Meat Market in the EU-27 is seeing a slow growth rate due to various factors such as increasing health concerns, demand for healthier options like meat substitutes, and the convenience of online shopping. Despite the growth being negligible, this market is expected to continue expanding due to the demand for fresh and processed meat.
Customer preferences: Consumers in EU-27 are becoming more health-conscious and are actively seeking out healthier meat options. This has led to a rise in demand for organic, grass-fed, and antibiotic-free meat products. Furthermore, the increasing awareness about animal welfare and sustainable farming practices has also influenced consumer preferences. As a result, there is a growing trend towards plant-based alternatives, such as Beyond Meat and Impossible Foods, which cater to the rising demand for sustainable and ethical food choices.
Trends in the market: In the EU-27, the Meat Market within The Food market is experiencing a shift towards sustainable and ethical practices. This trend is driven by consumer demand for transparency and responsible sourcing. As a result, more companies are implementing sustainable production methods and promoting animal welfare. Additionally, there is a growing trend of alternative protein sources, such as plant-based meats, which are gaining popularity among consumers. These trends have significant implications for industry stakeholders, as they must adapt to changing consumer preferences and invest in sustainable practices to remain competitive in the market. In the long term, this trend is expected to continue to drive innovation and growth in the Meat Market within The Food market.
Local special circumstances: In the EU-27 region, the Meat Market within The Food market is heavily influenced by strict regulations on animal welfare and food safety. These regulations have led to the adoption of sustainable and organic farming practices, resulting in higher costs for meat production. Additionally, cultural preferences for high-quality, locally-sourced meat have also driven market demand. In contrast, in the US, the market is driven by cost and convenience, leading to a higher demand for factory-farmed and processed meats. These differences in regulations and consumer preferences greatly impact the competitive landscape and pricing strategies in the Meat Market within The Food market in the EU-27 region.
Underlying macroeconomic factors: The Meat Market within The Food market market in EU-27 is significantly impacted by macroeconomic factors such as economic growth, consumer spending, and government policies. As a major contributor to the EU-27 economy, any fluctuations in the overall economic health of the region can greatly affect the demand and supply of meat products. Additionally, changes in fiscal policies, trade agreements, and consumer preferences can also have a significant impact on the Meat Market. For instance, a rise in disposable income and a growing awareness of the health benefits of consuming high-quality meats can drive market growth, while trade restrictions and increasing production costs can hinder market expansion. Furthermore, the ongoing COVID-19 pandemic has greatly disrupted the global economy, leading to supply chain disruptions and changes in consumer behavior, which have had a direct impact on the Meat Market in EU-27.
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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