Key regions: South Korea, Russia, Canada, Philippines, China
The Fresh Meat market within the Meat Market of The Food market in EAEU is experiencing subdued growth, affected by various factors such as changing consumer preferences, increasing competition, and fluctuating prices of raw materials. Despite this, the market is expected to grow steadily due to the rising demand for protein-rich and healthy food options. However, the growth rate is being impacted by challenges such as supply chain disruptions and regulatory restrictions.
Customer preferences: Consumers in the EAEU region are seeking more sustainable and ethically-sourced options in the Fresh Meat Market of the Meat Market within The Food market. This trend is driven by growing awareness of the environmental impact of traditional meat production and the desire for healthier, more ethical choices. As a result, there has been a rise in demand for plant-based and lab-grown meat alternatives. This shift is also influenced by the increasing popularity of vegetarian and vegan diets among younger generations.
Trends in the market: In the EAEU, the Fresh Meat Market of the Meat Market within The Food market is experiencing a shift towards sustainable and ethical production methods, as consumers become more conscious of the environmental and animal welfare impacts of their food choices. This trend is expected to continue as governments and industry stakeholders prioritize sustainability and animal welfare in food production. This has led to an increase in demand for organic and grass-fed meat, as well as a rise in alternative protein sources such as plant-based meats. In response, industry players are investing in innovative production methods and marketing strategies to cater to this growing demand. This trend is likely to have significant implications for the industry, as it not only affects consumer preferences, but also supply chain processes and regulatory frameworks. It is therefore crucial for industry players to adapt and align with these trends in order to remain competitive in the market.
Local special circumstances: In the EAEU, the Fresh Meat Market of the Meat Market within The Food market is heavily influenced by traditional meat consumption habits, as well as the regulatory environment. For example, in Russia, beef and pork are the most consumed meats, while in Kazakhstan, mutton is the preferred meat. This diversity in meat preferences leads to a diverse market, with different products and marketing strategies catering to the specific tastes of each country. Additionally, the strict food safety regulations in the EAEU have a significant impact on the market, with producers and suppliers having to adhere to strict standards to ensure safe and high-quality meat products for consumers.
Underlying macroeconomic factors: The Fresh Meat Market of the Meat Market within The Food market is greatly influenced by macroeconomic factors at both the global and national levels. The market is impacted by global economic trends such as changes in consumer preferences and behaviors, as well as trade policies and supply chain disruptions. Additionally, the economic health of individual countries, including their fiscal policies and financial indicators, can greatly impact the demand for and pricing of fresh meat products. Moreover, fluctuations in currency exchange rates and inflation can also have a significant influence on the market performance and profitability of fresh meat producers and suppliers. Lastly, government regulations and policies related to food safety, animal welfare, and environmental sustainability can also greatly impact the Fresh Meat Market within the Meat Market and the overall 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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