Definition:
The Processed Meat market covers all types of meats that have either been smoked, salted, cured, or given chemical preservatives. The market is splitted into three submarkets: ham & bacon, sausages, and cold & roast meat products.
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.
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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The Processed Meat Market in ASEAN has seen modest growth due to factors such as changing consumer preferences and health concerns. These factors, coupled with the convenience of online purchasing, have influenced the market's slow but steady growth rate. The sub-markets of Ham & Bacon, Sausages, and Cold & Roast Meat Products have all played a role in shaping this trend.
Customer preferences: As the ASEAN region continues to experience rapid urbanization and changing lifestyles, there has been a noticeable shift towards convenience and time-saving solutions in the Processed Meat Market of the Meat Market within The Food market. This has led to an increase in demand for ready-to-eat and pre-cooked processed meat products, as well as a rise in online food delivery services. Furthermore, the growing awareness and concerns about health and wellness have also led to a rise in demand for healthier and organic processed meat options, especially among younger consumers.
Trends in the market: In ASEAN, the Processed Meat Market within The Food market is experiencing a rise in demand for plant-based meat alternatives, driven by increasing health consciousness and environmental concerns. This trend is expected to continue, with more companies investing in research and development of innovative plant-based products. In addition, there is a growing trend of online grocery shopping in the region, providing convenience and accessibility for consumers to purchase processed meat products. These trends have significant implications for industry stakeholders, as they must adapt their product offerings and marketing strategies to cater to changing consumer preferences and behaviors.
Local special circumstances: In the ASEAN region, the Processed Meat Market within the Meat Market of The Food market is heavily influenced by cultural and geographical factors. For instance, in Indonesia, there is a strong demand for halal-certified processed meat products, in line with the country's predominantly Muslim population. In Thailand, the popularity of street food and local delicacies has led to a thriving market for processed meat snacks. Additionally, the strict regulations on imported meat products in some ASEAN countries have given rise to a growing market for locally-produced processed meat. These unique factors play a significant role in shaping the dynamics of the Processed Meat Market within the ASEAN region.
Underlying macroeconomic factors: The Processed Meat Market of the Meat Market within The Food market in ASEAN is greatly impacted by macroeconomic factors such as consumer spending, trade policies, and government regulations. The growing demand for processed meat products is fueled by rising income levels and changing consumer preferences towards convenience foods. Moreover, the increasing urbanization and rapid economic growth in the region are driving the demand for processed meat products. However, the market is also facing challenges due to trade barriers and fluctuating prices of raw materials. Additionally, the changing consumer trend towards healthier and natural alternatives is also affecting the market growth.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights