Key regions: South Korea, Russia, Canada, Philippines, China
The Fresh Meat Market in Western Africa is experiencing slow growth due to factors such as limited consumer awareness and lack of infrastructure for online sales. However, the sub-markets of Beef & Veal, Pork, Poultry, Mutton & Goat, and Other Fresh Meat are expected to see moderate growth driven by increasing demand for high-quality protein sources. The overall market's subdued growth rate can also be attributed to challenges such as inadequate cold chain facilities and high production costs.
Customer preferences: As consumers become more health-conscious, there has been a noticeable shift towards organic and ethically-sourced meat products in the Fresh Meat Market. This trend is driven by increasing awareness of the environmental impact of industrial farming and the desire for natural, unprocessed food. Additionally, with the rise of flexitarian and vegetarian diets, there has been a growing demand for plant-based meat alternatives. These preferences are also reflected in the demand for locally-sourced and pasture-raised meats, as consumers become more conscious of the carbon footprint of imported meats.
Trends in the market: In Western Africa, the Fresh Meat Market within the Meat Market of The Food market is experiencing a trend towards more sustainable and locally sourced meat products. This is driven by consumer demand for healthier and ethically produced meat, as well as government initiatives promoting domestic agriculture. This trend is expected to continue, as consumers become more conscious of the environmental and health impacts of factory farming. Industry stakeholders should take note of this trend and adapt their production and marketing strategies accordingly to meet the changing demands of the market.
Local special circumstances: In Western Africa, the Fresh Meat Market of the Meat Market within The Food market is heavily influenced by cultural and geographical factors. The region's diverse population and varying dietary preferences drive demand for different types of meat, such as beef, poultry, and fish. Additionally, strict regulations on imports and exports of meat products create a unique market dynamic, with local producers dominating the market. Furthermore, the region's traditional methods of meat production and distribution add to the distinct character of the market.
Underlying macroeconomic factors: The Fresh Meat Market of the Meat Market within The Food market is greatly impacted by macroeconomic factors in Western Africa. These factors include the overall economic health of the region, government policies and regulations, and global economic trends. Countries with stable and growing economies in the region, such as Nigeria and Ghana, are experiencing higher demand for fresh meat products due to an increase in consumer spending. This is also driven by a growing population and rising urbanization rates, resulting in a higher demand for protein-rich foods. Additionally, government initiatives to modernize the agricultural sector and improve food security are creating opportunities for market growth. However, challenges such as inadequate infrastructure, limited access to finance, and political instability in some countries can 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.
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