Meat Substitutes - Argentina

Argentina

Revenue in the Meat Substitutes market amounts to US$25.18m in 2024. The market is expected to grow annually by 9.73% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (US$2,371m in 2024).
In relation to total population figures, per person revenues of US$0.55 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 2.57m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 8.5% in 2025.
The average volume per person in the Meat Substitutes market is expected to amount to 0.0kg in 2024.

Key regions: Spain, Russia, United Kingdom, South Korea, India

Market

Region

Region comparison

Currency

Analyst Opinion

The Meat Substitutes market in Argentina has seen slow growth due to factors such as consumer preference for traditional meat products and limited availability of substitutes. Increasing health awareness and convenience of online shopping could potentially drive future growth.

Customer preferences: Consumers in Argentina are showing a growing interest in plant-based meat substitutes, driven by a rise in vegetarian and flexitarian diets. This trend is influenced by cultural values centered on health and sustainability, as well as a growing awareness of animal welfare and environmental concerns. As a result, the meat substitutes market in Argentina is expected to see significant growth, with companies investing in innovative and diverse plant-based options to cater to this growing demand. This shift towards more sustainable and ethical food choices reflects the changing lifestyle and dietary habits of consumers in the country.

Trends in the market: In Argentina, the Meat Substitutes market within the Meat Market of The Food market is experiencing a surge in demand due to increasing health and environmental concerns. Consumers are increasingly turning towards plant-based alternatives for meat, with a particular emphasis on soy-based products. This trend is expected to continue as more consumers become aware of the benefits of meat substitutes, such as lower cholesterol and reduced carbon footprint. Industry stakeholders should capitalize on this trend by investing in innovative and sustainable meat substitute products to stay competitive in the market.

Local special circumstances: In Argentina, the Meat Substitutes Market is influenced by the country's strong traditional meat-eating culture, which poses a challenge for meat substitute brands. However, the growing health and environmental awareness among consumers is opening up opportunities for plant-based alternatives. Additionally, the government's promotion of sustainable agriculture and policies promoting plant-based diets are expected to further propel the demand for meat substitutes in the country. Furthermore, the market is also affected by geographical factors such as the availability of arable land and water resources for plant-based production.

Underlying macroeconomic factors: The Meat Substitutes Market in Argentina is significantly impacted by macroeconomic factors such as changing dietary preferences and increasing health consciousness among consumers. The country's economic health, government regulations, and investment in sustainable agriculture also play a crucial role in shaping the market's growth. Additionally, the rising prevalence of chronic diseases and the growing trend of veganism and vegetarianism are driving the demand for meat alternatives in the country. As Argentina strives towards achieving sustainable development, the market for meat substitutes is expected to witness significant growth in the coming years.

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.