Fresh Meat - Bosnia and Herzegovina

Bosnia and Herzegovina

Highlights

Revenue in the Fresh Meat market amounts to US$514.20m in 2024. The market is expected to grow annually by 5.07% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$261bn in 2024).
In relation to total population figures, per person revenues of US$161.00 are generated in 2024.
In the Fresh Meat market, volume is expected to amount to 40.10m kg by 2029. The Fresh Meat market is expected to show a volume growth of 3.4% in 2025.0.
The average volume per person in the Fresh Meat market is expected to amount to 10.9kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Meat market in Bosnia and Herzegovina has seen minimal growth, influenced by factors such as changing consumer preferences, increased competition among sub-markets, and fluctuating prices of meat. This is compounded by the overall sluggish growth of the Meat market within The Food market. However, with growing demand for healthier and ethically sourced meat, as well as advancements in technology and online sales, the Fresh Meat market is expected to experience gradual growth in the coming years.

Customer preferences: Consumers in Bosnia and Herzegovina are showing a growing interest in locally sourced and organic fresh meat products. This trend is influenced by a strong cultural emphasis on traditional and natural food, as well as a rising concern for health and wellness. As a result, there has been a shift towards smaller, family-owned farms and butchers, as opposed to large industrial meat producers. Additionally, there is a growing demand for specialty cuts and unique meat products, catering to the diverse ethnic and cultural communities within the country.

Trends in the market: In Bosnia and Herzegovina, the Fresh Meat Market of the Meat Market within The Food market is seeing a surge in demand for organic and locally sourced meat. This trend is driven by consumer preferences for healthier and more sustainable products. As a result, there is an emerging market for small-scale, family-owned farms that offer high-quality, ethically-raised meat. This trend is expected to continue as consumers become more conscious of the environmental impact of meat production and seek out more ethical and sustainable options. This presents an opportunity for industry stakeholders to capitalize on this trend and cater to the growing demand for organic meat products. Moreover, it also highlights the need for producers to adopt more sustainable practices in order to remain competitive in the market.

Local special circumstances: In Bosnia and Herzegovina, the Fresh Meat Market of the Meat Market within The Food market is heavily influenced by cultural factors. The country has a strong tradition of consuming and producing meat, with a preference for locally sourced and organic options. This has led to a thriving market for small-scale farmers and butchers, who cater to the demand for high-quality meat products. Additionally, strict regulations on imported meat have created a competitive advantage for domestic producers, further driving the growth of the market.

Underlying macroeconomic factors: The Fresh Meat Market of the Meat Market within The Food market in Bosnia and Herzegovina is impacted by macroeconomic factors such as economic stability, consumer income levels, and government policies. The country's steady GDP growth and increasing disposable income have led to a rise in consumer spending on food products, including fresh meat. Additionally, the government's supportive policies towards the agriculture sector and investments in infrastructure have also played a crucial role in boosting the market. However, the market is also affected by global economic trends, trade policies, and fluctuations in currency exchange rates, which can impact the cost of imported meat products and ultimately affect 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.