Meat - Guatemala

Guatemala

Revenue in the Meat market amounts to US$5,704.00m in 2024. The market is expected to grow annually by 8.16% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (US$273bn in 2024).
In relation to total population figures, per person revenues of US$310.70 are generated in 2024.
In the Meat market, volume is expected to amount to 845.20m kg by 2029. The Meat market is expected to show a volume growth of 5.2% in 2025.
The average volume per person in the Meat market is expected to amount to 37.9kg in 2024.

Key regions: Russia, China, Spain, Canada, United Kingdom

Market

Region

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Currency

Analyst Opinion

The Meat Market in Guatemala is experiencing minimal growth, influenced by factors such as increasing health consciousness among consumers, the convenience of online meat services, and advancements in digital technologies. The sub-markets of Fresh Meat, Processed Meat, and Meat Substitutes all play a role in shaping the overall market.

Customer preferences: Health and wellness are becoming increasingly important to consumers in Guatemala, leading to a rise in demand for organic and locally sourced meat products. As the population becomes more health-conscious, there is a growing preference for leaner cuts of meat and alternatives to traditional red meat. This trend is also influenced by the country's diverse cultural influences, with a growing interest in vegetarian and plant-based diets. As a result, meat producers are adapting to meet the changing demands of consumers, offering a wider range of options to cater to different dietary preferences.

Trends in the market: In Guatemala, the Meat Market within The Food market is experiencing a shift towards more sustainable and ethical practices. There is a growing demand for organic and locally sourced meat products, as consumers become more conscious of their health and the environmental impact of their food choices. This trend has significant implications for industry stakeholders, as they must adapt their production and sourcing methods to meet the changing demands of the market. Furthermore, there is a potential for increased competition as new players enter the market with alternative, sustainable options. Additionally, there is a rising interest in plant-based meat alternatives, which could further disrupt the traditional meat market in Guatemala. Overall, the trajectory of these trends suggests a need for industry stakeholders to adapt and innovate to stay relevant in the evolving Meat Market within The Food market in Guatemala.

Local special circumstances: In Guatemala, the Meat Market within The Food market is heavily influenced by the country's agricultural practices and cultural preferences. The majority of meat consumed in Guatemala is locally sourced and raised, with a strong emphasis on fresh and natural products. The market also faces challenges in terms of regulations and food safety, which have led to the adoption of stricter quality control measures. Additionally, the country's diverse cuisine, with a mix of indigenous and Spanish influences, creates a demand for a wide variety of meats and cuts, making for a dynamic and competitive market.

Underlying macroeconomic factors: The Meat Market within The Food market in Guatemala is heavily influenced by macroeconomic factors such as GDP growth, inflation rates, and government policies. The country's economic health, as well as global economic trends, play a significant role in shaping the market's performance. Additionally, fiscal policies, such as trade agreements and taxation, have a direct impact on the import and export of meat products. Changes in these factors can affect consumer purchasing power and ultimately drive demand for meat products in the market. Furthermore, fluctuations in commodity prices and currency exchange rates can also impact the production and pricing of meat products in Guatemala.

Methodology

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.