Meat - Panama | Statista Market Forecast

Revenue in the Meat market amounts to US$2.32bn in 2024. The market is expected to grow annually by 6.95% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$273bn in 2024).
In relation to total population figures, per person revenues of US$512.70 are generated in 2024.
In the Meat market, volume is expected to amount to 323.90m kg by 2029. The Meat market is expected to show a volume growth of 5.3% in 2025.0.
The average volume per person in the Meat market is expected to amount to 56.8kg in 2024.

Definition:

The Meat market covers animal (both domestic and wild) and non-animal meat that are bought and consumed for nutrient-based purposes.

Structure:

The market consists of 3 different submarkets:

The Fresh Meat market covers meat from both domestic and wild animals that are fresh, chilled, or frozen. This market is divided into five submarkets: beef & veal, pork, mutton & goat, poultry, and other fresh meat.
The Processed Meat market covers all types of meat that has been dried, salted, brined, or smoked. This segment is divided into three subsegments: cold & roast meat products, ham & bacon, sausages.
The Meat Substitutes market covers meat-replacement food items created from vegetarian or vegan components.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

Fresh Meat
Processed Meat
Meat Substitutes

Meat-based ready-to-eat meals
Out-of-home consumption

The Meat Market in Panama is experiencing minimal growth, influenced by factors such as consumer preference for fresh, locally sourced meat, increasing health concerns, and the convenience of online meat substitutes. However, factors such as high import costs and limited availability of processed meat may impact the market's growth rate.

Customer preferences: As health and wellness become increasingly important to consumers, there has been a rise in demand for ethically-sourced and sustainable meat options. This trend is driven by a growing awareness of the environmental impact of meat consumption and a desire for healthier, higher-quality products. In response, many meat producers in Panama are now offering grass-fed, hormone-free, and antibiotic-free options to meet this demand. Additionally, there has been a shift towards plant-based meat alternatives, driven by a rise in vegetarian and vegan diets and a growing concern for animal welfare.

Trends in the market: In Panama, the Meat Market within The Food market is experiencing a shift towards sustainable and ethical sourcing. Consumers are becoming more conscious of the environmental and ethical impacts of meat production, leading to a rise in demand for locally-sourced and organic meat products. This trend is expected to continue, with industry stakeholders adapting their practices to cater to this growing demand. Additionally, there is a growing interest in alternative protein sources, such as plant-based meats, which could potentially disrupt the traditional meat market in the country. These developments have the potential to shape the future of the meat market in Panama and could impact the entire food market industry in the country.

Local special circumstances: In Panama, the Meat Market within The Food market is heavily influenced by the country's rich cultural history and its diverse cuisine. Panamanian cuisine is a fusion of Spanish, African, and Indigenous flavors, resulting in a unique demand for various types of meats. Additionally, Panama's strategic location as a hub for international trade has led to a thriving import and export market for meat products. The country's regulatory environment also plays a significant role, with strict food safety standards and labeling requirements in place to ensure the quality and authenticity of meat products in the market. These factors contribute to the dynamic and competitive nature of the Meat Market in Panama.

Underlying macroeconomic factors: The success of the Meat Market in Panama is closely tied to macroeconomic factors such as economic stability, consumer spending power, and government policies. Panama's strong economic growth, fueled by its strategic location and business-friendly environment, has led to an increase in disposable income and a growing middle class. This has resulted in a higher demand for quality meat products, as consumers are willing to pay for premium options. Furthermore, the government's investment in modernizing and expanding the country's meat production and processing facilities has also contributed to the growth of the Meat Market. However, any fluctuations in the national economy or changes in fiscal policies could impact consumer behavior and potentially affect the market's performance.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

In the past, many cultures considered meat a luxury that could only be enjoyed on special occasions or certain days of the week, while today it is a staple that can be found in nearly all restaurants and many kitchens all over the world. The market value of the meat industry is expected to rise from 897.5 billion U.S. dollars in 2021 to over 1.3 trillion dollars by 2027. In 2022, the United States saw the highest revenue from meat products and sausages, over five billion U.S. dollars more than the second largest meat market in the world, Germany with a revenue of over 33.6 billion U.S. dollars. France, Russia, and Mexico are finishing the top five countries with the biggest revenue from processed meats.