Processed Meat - Baltics

Baltics

Revenue in the Processed Meat market amounts to US$1.37bn in 2024. The market is expected to grow annually by 3.41% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$42bn in 2024).
In relation to total population figures, per person revenues of US$235.60 are generated in 2024.
In the Processed Meat market, volume is expected to amount to 193.90m kg by 2029. The Processed Meat market is expected to show a volume growth of 0.7% in 2025.
The average volume per person in the Processed Meat market is expected to amount to 32.5kg in 2024.

Key regions: India, China, United Kingdom, Spain, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

The Processed Meat market in the Baltics is experiencing sluggish growth, influenced by factors such as a decline in consumption due to health concerns and increasing popularity of plant-based diets. The sub-markets of Ham & Bacon, Sausages, and Cold & Roast Meat Products are all affected by these trends, leading to a negligible growth rate for the overall market. This is further compounded by stricter regulations and changing consumer preferences towards healthier and more sustainable options.

Customer preferences: Consumers in the Baltics are increasingly seeking processed meat products that are free from artificial additives and preservatives. This trend is driven by a growing health consciousness and a preference for natural and clean-label food options. Additionally, there is a rising demand for plant-based and protein-rich alternatives, reflecting a shift towards healthier and more sustainable diets. This is further influenced by the region's cultural traditions and a growing interest in ethical and environmentally-friendly food choices.

Trends in the market: In the Baltics, the Processed Meat Market within the Meat Market of The Food market is seeing a shift towards healthier options. As consumers become more health-conscious, there is a growing demand for processed meats made from natural and organic ingredients. Additionally, there is a trend towards transparency and traceability in the supply chain, with consumers seeking information about the sourcing and production of their meat products. This trend is expected to continue, as consumers become more aware of the potential health risks associated with processed meats and prioritize quality and sustainability in their food choices. Industry stakeholders will need to adapt to these changing consumer preferences and invest in sustainable and transparent practices to remain competitive in the market.

Local special circumstances: In the Baltics, the Processed Meat Market of the Meat Market within The Food market is influenced by the region's traditional meat-heavy cuisine, as well as its proximity to Russia, where processed meat consumption is high. Additionally, regulations for importing and producing meat products vary between the three Baltic countries, creating unique challenges for international companies. Furthermore, the growing focus on sustainability and organic products in the Baltics has also impacted the market, with consumers seeking out locally sourced, natural alternatives to processed meats.

Underlying macroeconomic factors: The Processed Meat Market of the Meat Market within The Food market is heavily impacted by macroeconomic factors such as consumer spending, economic stability, and government policies. The demand for processed meat products is closely tied to consumer purchasing power and economic growth, as individuals tend to increase their consumption of meat products during times of economic prosperity. Moreover, government policies and regulations, such as food safety standards, trade agreements, and import/export regulations, greatly influence the availability and cost of processed meat products in the market. Additionally, global economic trends and shifts in consumer preferences towards healthier and more sustainable food options are also shaping the growth of the processed meat market. These factors highlight the need for food companies to adapt to changing market conditions and consumer demands in order to remain competitive and drive market growth.

Methodology

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.