Meat Substitutes - Angola

Angola

Highlights

Revenue in the Meat Substitutes market amounts to US$5.76m in 2024. The market is expected to grow annually by 11.90% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$2bn in 2024).
In relation to total population figures, per person revenues of US$0.15 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 292.20k kg by 2029. The Meat Substitutes market is expected to show a volume growth of 14.6% in 2025.0.
The average volume per person in the Meat Substitutes market is expected to amount to 0.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Meat Substitutes Market in Angola has seen modest growth due to factors such as increasing health consciousness and convenience of plant-based alternatives. However, the subdued growth rate is impacted by challenges in supply chain and limited consumer awareness.

Customer preferences: As consumers become more health-conscious and environmentally aware, the demand for plant-based meat substitutes is on the rise in the meat market within The Food market in Angola. This trend is driven by a growing interest in sustainable and ethical food choices, as well as health concerns related to traditional meat consumption. Additionally, the rise of flexitarian and vegetarian diets among younger generations is also contributing to the growth of the meat substitutes market. These factors have prompted companies to innovate and offer a wide range of meat alternatives to cater to this growing demand.

Trends in the market: In Angola, the Meat Substitutes Market within the Meat Market of The Food market is experiencing a surge in demand for plant-based alternatives, driven by health and sustainability concerns. This trend is expected to continue, with the market projected to reach $XX billion by 2025. Additionally, the rise of flexitarian and vegan diets is fueling the growth of this market. As a result, industry stakeholders are increasingly investing in research and development of new and innovative meat substitute products to meet consumer demand. This trend is significant as it signals a shift towards more sustainable and ethical food choices, and has the potential to disrupt the traditional meat industry. It also presents opportunities for collaboration and partnerships between traditional meat producers and plant-based companies.

Local special circumstances: In Angola, the Meat Substitutes Market of the Meat Market within The Food market is influenced by the country's dependence on imported meat products. Due to limited local production, there is a growing demand for alternative protein sources. Additionally, cultural preferences and dietary habits, such as the high consumption of meat in traditional dishes, pose a challenge for the adoption of meat substitutes. The government's efforts to promote self-sufficiency in meat production may also affect the market dynamics.

Underlying macroeconomic factors: The Meat Substitutes Market of the Meat Market within The Food market is heavily influenced by macroeconomic factors such as consumer preferences and purchasing power, government regulations, and global economic trends. As more consumers are becoming health-conscious and environmentally aware, the demand for plant-based meat alternatives is increasing. Additionally, government initiatives promoting sustainable and ethical practices in food production are also driving the growth of the market. However, economic instability, high production costs, and supply chain disruptions due to the COVID-19 pandemic are some of the challenges that could hinder market growth. Overall, the Meat Substitutes Market is expected to experience significant growth in the coming years due to the increasing demand for sustainable and healthy food options.

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.