Fresh Meat - Mongolia

Mongolia

Highlights

Revenue in the Fresh Meat market amounts to US$1.20bn in 2024. The market is expected to grow annually by 13.26% (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$342.30 are generated in 2024.
In the Fresh Meat market, volume is expected to amount to 154.40m kg by 2029. The Fresh Meat market is expected to show a volume growth of 6.2% in 2025.0.
The average volume per person in the Fresh Meat market is expected to amount to 34.9kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Meat market in Mongolia is experiencing a steady growth rate, driven by factors such as increasing consumer demand for fresh and locally sourced meat, rising health consciousness, and the convenience of online meat shopping. The sub-markets of Beef & Veal, Pork, Poultry, Mutton & Goat, and Other Fresh Meat all contribute to this growth, as they cater to different consumer preferences. However, challenges such as limited infrastructure and high production costs may hinder the market's potential for rapid growth.

Customer preferences: Consumers in Mongolia are increasingly demanding locally-sourced, organic and sustainable meat options, reflecting a growing awareness of the environmental impact of the meat industry. This trend is also driven by the rising popularity of vegetarian and flexitarian diets, as well as concerns about animal welfare. In addition, the younger generation is more health-conscious and willing to pay a premium for high-quality, nutritious meat products. As a result, there is a growing market for grass-fed and free-range meat, as well as alternatives to traditional meat such as plant-based meat substitutes.

Trends in the market: In Mongolia, the Fresh Meat Market within the Meat Market is experiencing a rise in demand for organic and locally-sourced meat products. This trend is driven by a growing consumer preference for healthier and more sustainable food options. As a result, there is an increase in the number of small-scale meat producers and specialty meat shops. This trajectory is significant as it presents opportunities for industry stakeholders to tap into the growing market for premium and ethically-sourced meat products. However, it also poses challenges for larger meat producers who may struggle to compete with smaller, niche players. Additionally, there may be implications for the traditional nomadic herding lifestyle, as more people turn to commercial farming for meat production.

Local special circumstances: In Mongolia, the Fresh Meat Market of the Meat Market within The Food market is heavily influenced by the country's nomadic culture and vast landscapes. Nomadic herding is a traditional way of life for many Mongolians, resulting in a high demand for fresh and locally sourced meat. Additionally, the country's harsh climate and limited infrastructure make it difficult to import meat, leading to a strong reliance on domestic production. These factors contribute to a unique market dynamic, where fresh meat is highly valued and plays a significant role in the daily diet of Mongolians.

Underlying macroeconomic factors: The Fresh Meat Market of the Meat Market within The Food market in Mongolia is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The growth of this market is largely driven by factors such as changing consumer preferences, rising disposable income, and increasing demand for high-quality protein sources. Additionally, government initiatives to promote domestic production and reduce dependence on imports have also contributed to the growth of the market. However, factors such as inflation, currency fluctuations, and economic instability can pose challenges to the market's performance. Overall, the Fresh Meat Market in Mongolia is expected to continue growing due to the country's stable economic growth and increasing demand for meat products.

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.