Meat Substitutes - Zimbabwe

Zimbabwe

Highlights

Revenue in the Meat Substitutes market amounts to US$590.20k in 2024. The market is expected to grow annually by 9.60% (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$0.03 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 36.39k kg by 2029. The Meat Substitutes market is expected to show a volume growth of 6.1% 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 Zimbabwe is experiencing minimal growth due to factors such as low consumer awareness and limited availability. However, increasing health consciousness and rising demand for plant-based options are expected to drive growth in the future.

Customer preferences: As consumers become more health-conscious and environmentally aware, there has been a growing demand for alternative protein sources in the Meat Substitutes Market of the Meat Market within The Food market. This trend is driven by cultural values of sustainability and compassion for animals, as well as the rise of vegan and vegetarian lifestyles. Additionally, the increasing availability of innovative plant-based options and the growing influence of social media and digital platforms have also contributed to the shift towards meat substitutes.

Trends in the market: In Zimbabwe, the Meat Substitutes Market within the Meat Market of The Food market is experiencing a surge in demand, driven by a growing trend towards plant-based diets. This is largely due to increasing health and environmental concerns among consumers. As a result, industry stakeholders are seeing a rise in innovative meat substitute products, such as soy-based burgers and tofu-based sausages. This trend is expected to continue, as more consumers are becoming conscious of the benefits of meat substitutes, leading to potential implications for traditional meat producers and retailers.

Local special circumstances: In Zimbabwe, the Meat Substitutes Market is heavily influenced by the country's economic and political climate. Due to high inflation rates and food shortages, many consumers are turning to plant-based alternatives as a more affordable and accessible option. Additionally, cultural norms and religious beliefs around meat consumption are also contributing to the growth of the market. The government's recent promotion of a plant-based diet as a solution to food insecurity is also driving the demand for meat substitutes in the country.

Underlying macroeconomic factors: The Meat Substitutes Market in Zimbabwe is heavily influenced by macroeconomic factors such as economic stability, consumer spending, and government policies. With a struggling economy, consumers are looking for cost-effective alternatives to traditional meat products, leading to an increase in demand for meat substitutes. Additionally, the rise in health consciousness and concerns about the environmental impact of meat production have also driven the growth of the market. Furthermore, government initiatives promoting sustainable and plant-based diets have created a favorable regulatory environment for meat substitutes in Zimbabwe. As a result, the market is expected to experience steady growth in the coming years, driven by both economic and societal trends.

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.