Processed Meat - Angola | Statista Market Forecast

The Processed Meat Market in Angola has been experiencing subdued growth, influenced by factors such as low consumer awareness and limited availability of online services. Despite the sub-markets of Ham & Bacon, Sausages and Cold & Roast Meat Products showing potential for growth, challenges such as high production costs and lack of infrastructure are impacting the overall market's growth rate.

Customer preferences: As consumers in Angola become more health-conscious, there has been a noticeable shift towards processed meat products that are perceived as healthier options, such as lean meats and plant-based alternatives. This can be attributed to a growing awareness of the link between diet and health, as well as a desire for more sustainable and ethical food choices. Additionally, the rise of convenience and on-the-go lifestyles has led to an increase in demand for processed meat snacks and ready-to-eat meals. This trend is expected to continue as the market for processed meats in Angola evolves to cater to changing consumer preferences.

Trends in the market: In Angola, the Processed Meat Market is experiencing a shift towards healthier and higher quality products. There is a growing demand for organic and natural processed meats, as consumers become more health-conscious. Additionally, there is a trend towards using locally sourced ingredients and reducing the use of preservatives. This trend is significant as it aligns with global consumer preferences and could lead to greater market opportunities for industry stakeholders. However, it also presents challenges for smaller producers who may struggle to meet these new standards and compete with larger, established brands.

Local special circumstances: In Angola, the Processed Meat Market within the Meat Market of The Food market is heavily influenced by the country's cultural preference for meat consumption and the limited access to fresh meat due to the underdeveloped agriculture sector. This has led to a high demand for processed meat products, such as canned and cured meats. Additionally, Angola's strict import regulations and high tariffs on imported meat products have created a barrier for foreign competition, allowing local companies to dominate the market. These factors contribute to the unique dynamics of the Processed Meat Market in Angola, setting it apart from other global markets.

Underlying macroeconomic factors: The demand for processed meat in Angola is greatly influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. Countries with strong economic growth and stable fiscal policies tend to have a higher demand for processed meat, as consumers have more disposable income to spend on convenience foods. Additionally, the growing population and urbanization in Angola are driving the demand for processed meat, as it is a convenient and affordable source of protein. However, fluctuations in global commodity prices and currency exchange rates can impact the cost of imported processed meat, potentially affecting market growth. Furthermore, government policies and regulations surrounding food safety and imports can also impact the availability and cost of processed meat in the market. Overall, the performance of the processed meat market in Angola is closely tied to the country's macroeconomic climate.

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.