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Key regions: South Korea, Russia, Canada, Philippines, China
The Fresh Meat market in Southern Africa is currently experiencing subdued growth due to factors such as increasing competition from alternative protein sources, changing consumer preferences, and fluctuations in pricing. However, the market is expected to witness growth in the coming years, driven by the rising demand for high-quality and ethically-sourced meat products. The convenience of online meat shopping and increasing health consciousness among consumers are also contributing to the market's growth.
Customer preferences: In Southern Africa, there has been a growing demand for locally sourced and ethically produced fresh meat, as consumers become more conscious of the environmental and social impact of their food choices. This trend is also driven by a desire for healthier and more sustainable diets, with a focus on grass-fed and free-range meats. Additionally, there is a rise in demand for alternative protein sources, such as plant-based and lab-grown meats, as consumers become more aware of the health and ethical implications of traditional meat production. This shift towards conscious consumption is also influenced by the growing middle class and their changing attitudes towards food and health.
Trends in the market: In Southern Africa, the Fresh Meat Market is experiencing a rise in demand for organic and ethically-sourced meat products, driven by a growing awareness of healthy and sustainable food choices. This trend is expected to continue, with consumers willing to pay a premium for quality and ethical standards. This presents opportunities for industry stakeholders to tap into this market segment and differentiate themselves from competitors. However, it also poses challenges in terms of supply chain management and meeting consumer expectations.
Local special circumstances: In Southern Africa, the Fresh Meat Market within the Meat Market of The Food market is heavily influenced by local cultural preferences for certain types of meats, such as game and traditional meats like biltong and droëwors. Additionally, the region's climate and geography play a significant role in the availability and production of certain meats, leading to variations in supply and demand. The regulatory environment also differs from other markets, with strict import and export regulations impacting the flow of meat products. These unique factors contribute to the dynamic and diverse nature of the Fresh Meat Market in Southern Africa.
Underlying macroeconomic factors: The Fresh Meat Market of the Meat Market within The Food market in Southern Africa is influenced by macroeconomic factors such as economic stability, consumer purchasing power, and government policies. As the region experiences steady economic growth and rising disposable incomes, consumers are increasingly able to afford higher quality and more diverse meat products. Additionally, government initiatives to promote domestic meat production and reduce reliance on imports are driving demand for locally sourced fresh meat. However, challenges such as high production costs and limited access to technology continue to hinder market growth.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)