Meat - Guyana

Guyana

Revenue in the Meat market amounts to US$95.80m in 2024. The market is expected to grow annually by 7.77% (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$116.90 are generated in 2024.
In the Meat market, volume is expected to amount to 20.18m kg by 2029. The Meat market is expected to show a volume growth of 1.5% in 2025.
The average volume per person in the Meat market is expected to amount to 21.4kg in 2024.

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

Market

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Analyst Opinion

The Meat Market in Guyana is experiencing minimal growth, influenced by factors such as limited access to digital technologies, low health awareness among consumers, and preference for traditional meat products. This is reflected in the sub-markets of Fresh Meat, Processed Meat, and Meat Substitutes. However, government initiatives promoting healthy eating and the introduction of new meat substitutes could potentially drive growth in the future.

Customer preferences: Consumers in Guyana are becoming more health-conscious, which is driving a growing demand for organic and locally sourced meat products in the Meat Market within The Food market. This trend is influenced by the country's diverse cultural heritage, with a strong emphasis on fresh and natural foods. Additionally, the increasing purchasing power of the younger population is fueling a shift towards premium meat options, such as grass-fed and free-range products. This reflects a growing awareness of ethical and environmental considerations in food consumption.

Trends in the market: In Guyana, the Meat Market within The Food market is experiencing a rise in demand for organic and locally-sourced meat products. This trend is driven by increasing health and environmental awareness among consumers. Additionally, there is a growing trend of online meat delivery services, providing convenience and access to a wider range of products. These trends are significant as they reflect a shift towards sustainable and healthy food choices. For industry stakeholders, this presents an opportunity to cater to evolving consumer preferences and differentiate themselves in a competitive market. However, it also poses challenges in terms of supply chain management and meeting quality standards for organic products. As the demand for organic and locally-sourced meat products continues to grow, it is imperative for industry players to adapt and innovate to stay relevant in the market.

Local special circumstances: In Guyana, the Meat Market within The Food market is heavily influenced by the country's diverse cultural heritage, with a mix of African, Indian, and Indigenous cuisines. This has led to a wide variety of meat products being offered, ranging from traditional dishes such as pepperpot and cassava bread to more modern options like fast food burgers and chicken nuggets. Additionally, the country's tropical climate and fertile land allow for the production of high-quality meats, making Guyana a prime location for meat processing and export. This unique combination of cultural and geographical factors has shaped the Meat Market in Guyana, making it a vibrant and competitive industry.

Underlying macroeconomic factors: The Meat Market within The Food market in Guyana is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. As a developing country, Guyana's economy is driven by industries such as agriculture and mining, which have a direct impact on the availability and affordability of meat products. Additionally, the country's fiscal policies and trade agreements can affect the import and export of meat, further shaping the market. Furthermore, global economic trends and fluctuations can impact the purchasing power of consumers, ultimately influencing the demand for meat products in Guyana.

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.