Key regions: South Korea, Russia, Canada, Philippines, China
The Asia Fresh Meat market is experiencing minimal growth due to factors such as fluctuating demand for different types of meat, changing consumer preferences, and competition from alternative protein sources. Despite this, the market is expected to continue growing due to increasing disposable income and the popularity of meat-based diets in the region.
Customer preferences: The rise of e-commerce and the increasing availability of online grocery delivery services have transformed the way consumers in Asia purchase fresh meat. As a result, there has been a significant increase in demand for premium, high-quality meats that are sustainably sourced and ethically raised. This trend is driven by a growing awareness and interest in health and wellness, as well as a desire for more transparent and ethical food choices. Additionally, the rise of flexitarian and plant-based diets has also led to a shift towards alternative protein sources, further driving the innovation and diversification of the fresh meat market in Asia.
Trends in the market: In Asia, the Fresh Meat Market within the Meat Market of The Food market is experiencing a shift towards sustainable and ethically-sourced meat products. This trend is driven by increasing consumer awareness and demand for environmentally-friendly and humane farming practices. Additionally, there is a growing interest in alternative protein sources such as plant-based and lab-grown meats. This trend is expected to continue, bringing potential opportunities for industry stakeholders to tap into the growing market for sustainable and alternative meat products.
Local special circumstances: In China, the Fresh Meat market is heavily influenced by the country's traditional cuisine and cultural preferences. Pork is the most popular meat, accounting for over half of the total consumption. However, due to recent food safety concerns, there has been a growing demand for organic and premium meat products. In Japan, the market is driven by the country's aging population and their preference for high-quality, locally sourced meat. This has led to the rise of niche markets focusing on premium cuts and specialty meats, such as Kobe beef.
Underlying macroeconomic factors: The growth of the Fresh Meat Market of the Meat Market within The Food market is influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. For instance, countries with strong economic growth and stable fiscal policies are likely to experience higher demand for fresh meat, as consumers have more disposable income to spend on food. Additionally, government policies such as subsidies and trade agreements can impact the availability and pricing of fresh meat, further influencing the market. Moreover, changing demographics, such as increasing urbanization, rising middle-class population, and shifting dietary preferences, can also affect the demand for fresh meat in Asia. Overall, macroeconomic factors play a crucial role in shaping the performance and growth of the Fresh Meat Market in Asia within the larger Meat Market and Food Market.
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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