Key regions: South Korea, Russia, Canada, Philippines, China
The fresh meat market in Bangladesh is experiencing subdued growth due to various factors such as increasing competition, changing consumer preferences, and economic constraints. Despite these challenges, the market continues to grow, driven by the rising demand for protein-rich diets and the convenience offered by online meat purchases. The market is also seeing growth in the sub-markets of beef & veal, pork, poultry, mutton & goat, and other fresh meat, as consumers become more health-conscious and seek alternative protein sources. However, price sensitivity and supply chain issues remain major challenges for the market's overall growth.
Customer preferences: As consumer awareness and concern for animal welfare and sustainability grows, there is a rising demand for ethically-sourced and organic meat products in the Fresh Meat Market. Additionally, there is a growing interest in plant-based meat alternatives among health-conscious and environmentally-conscious consumers. This shift towards healthier and more sustainable options is also reflected in the increasing popularity of local and organic produce, as well as a focus on transparency and traceability within the meat industry.
Trends in the market: In Bangladesh, the Fresh Meat Market within the Meat Market of The Food market is experiencing a shift towards more sustainable and ethically-sourced meat products. This trend is being driven by increasing consumer awareness and demand for environmentally-friendly and humane production methods. As a result, industry stakeholders are investing in responsible sourcing and production practices to meet this demand. This trend is expected to continue and could lead to potential partnerships and collaborations between producers and retailers to cater to this market segment.
Local special circumstances: In Bangladesh, the Fresh Meat Market of the Meat Market within The Food market is heavily influenced by the country's geographical and cultural factors. Being a predominantly Muslim country, there is a high demand for halal meat, leading to strict regulations and certification processes. Additionally, the country's agricultural sector plays a significant role in the production of local meat, creating a unique supply chain. The market is also heavily influenced by seasonal factors, such as religious festivals and monsoon season, impacting the availability and pricing of meat products.
Underlying macroeconomic factors: The Fresh Meat Market of the Meat Market within The Food market in Bangladesh is greatly influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The country's economic growth, inflation rates, and government policies all play a significant role in shaping the demand and supply of fresh meat products. Moreover, factors like population growth, income levels, and consumer preferences also impact the market. As the country experiences steady economic growth and rising disposable incomes, the demand for high-quality and diverse meat products is increasing. On the other hand, fluctuations in exchange rates, trade policies, and inflation can significantly affect the pricing and availability of fresh meat, further impacting market performance.
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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