Meat - Philippines | Statista Market Forecast

Revenue in the Meat market amounts to US$25.62bn in 2024. The market is expected to grow annually by 7.26% (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$215.10 are generated in 2024.
In the Meat market, volume is expected to amount to 3.93bn kg by 2029. The Meat market is expected to show a volume growth of 4.1% in 2025.0.
The average volume per person in the Meat market is expected to amount to 27.2kg 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 the Philippines is currently experiencing minimal growth, influenced by factors such as increasing demand for fresh and processed meat, as well as the availability of meat substitutes. The rising health awareness among consumers and the convenience of purchasing meat online are also contributing to the market's growth. However, challenges such as concerns over food safety and sustainability may be impacting the market's overall growth rate.

Customer preferences: As the Philippine population becomes more health-conscious, there is a growing demand for organic and sustainable meat products. Consumers are looking for meat that is free from antibiotics and hormones, and are willing to pay a premium for these options. Additionally, there is an increase in demand for plant-based alternatives among the younger generation, as they become more environmentally and health-conscious. This trend is also driven by the rise of vegan and vegetarian lifestyles in the country.

Trends in the market: In the Philippines, the Meat Market within The Food market is experiencing a surge in demand for plant-based meat alternatives. This trend is driven by the increasing number of health-conscious consumers looking for healthier and more sustainable options. Moreover, with the rise of social media and influencer marketing, the popularity of plant-based diets is expected to continue to grow. This has significant implications for industry stakeholders, as they will need to adapt their product offerings and marketing strategies to cater to this emerging trend. Additionally, the rise of plant-based meat alternatives may also disrupt traditional meat supply chains and impact the livelihoods of local meat producers.

Local special circumstances: In the Philippines, the Meat Market within The Food market is heavily influenced by the country's geography and cultural preferences. Being an archipelago, the Philippines has a diverse range of meat options, with seafood being a popular choice due to its abundance. Additionally, the country's strong Catholic influence leads to a high demand for pork and beef, as these meats are commonly consumed during religious holidays and celebrations. This unique blend of geographical and cultural factors drives the demand for meat products in the Philippines, shaping the dynamics of the market.

Underlying macroeconomic factors: The growth of the Meat Market within The Food market in the Philippines is heavily influenced by macroeconomic factors such as economic growth, consumer spending, and government policies. As the Philippines continues to experience strong economic growth and rising disposable incomes, the demand for meat products is expected to increase. In addition, government initiatives to promote the meat industry and improve food safety standards are also expected to drive market growth. However, challenges such as high production costs and limited infrastructure may hinder the market's growth potential. Furthermore, global economic trends and trade policies may also impact the availability and pricing of meat products in the Philippines market.

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.