Meat - Madagascar

Madagascar

Revenue in the Meat market amounts to US$1,357.00m in 2024. The market is expected to grow annually by 8.77% (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$43.69 are generated in 2024.
In the Meat market, volume is expected to amount to 224.70m kg by 2029. The Meat market is expected to show a volume growth of 3.0% in 2025.
The average volume per person in the Meat market is expected to amount to 6.4kg in 2024.

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

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Analyst Opinion

The Meat Market in Madagascar is facing subdued growth due to various factors such as limited access to technology, low health awareness among consumers, and traditional eating habits. The sub-markets of Fresh Meat, Processed Meat, and Meat Substitutes are also impacted by these challenges. These factors hinder the overall growth rate of the market, despite the convenience offered by online meat services.

Customer preferences: As the demand for healthier and more sustainable food options continues to rise, consumers in Madagascar are increasingly turning towards plant-based and organic meats. This trend is driven by a growing awareness of the environmental impact of traditional meat production and a desire for ethical and healthier food choices. Additionally, with the rising popularity of flexitarian and vegetarian diets, there is a growing market for plant-based meat alternatives, such as tofu, tempeh, and seitan. This shift towards alternative protein sources is also influenced by the cultural preference for vegetarian and plant-based dishes in many parts of the country.

Trends in the market: In Madagascar, the Meat Market within The Food market industry is seeing a growing trend towards sustainable and ethical meat production. This includes a shift towards grass-fed and pasture-raised meat, as well as a focus on reducing food waste and implementing more humane animal welfare practices. These trends are significant as they align with consumer demand for more sustainable and ethical food options. Industry stakeholders may need to adapt their production methods and marketing strategies to cater to these changing preferences in order to remain competitive in the market.

Local special circumstances: In Madagascar, the Meat Market within The Food market is heavily influenced by the country's unique geographical factors. With a large agricultural sector and a diverse landscape, local farmers are able to produce a wide variety of meats, including zebu, pork, and poultry. However, due to the island's isolation, imported meats are limited and therefore command higher prices. Additionally, cultural practices, such as the preference for fresh and locally sourced meats, play a significant role in shaping consumer behavior. As a result, the Meat Market in Madagascar operates differently from other markets, with a focus on locally produced and culturally preferred meats.

Underlying macroeconomic factors: The Meat Market within The Food market in Madagascar is influenced by macroeconomic factors such as economic stability, government policies, and global market trends. The country's economic stability and growth contribute to the overall demand for meat products. Additionally, government policies on trade and agriculture, as well as consumer preferences and purchasing power, impact the production, distribution, and consumption of meat. The market is also affected by global trends in food consumption, supply chain management, and sustainability practices. These factors play a crucial role in shaping the performance of the Meat Market in Madagascar.

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.