Processed Meat - BRICS | Statista Market Forecast

The Processed Meat Market in BRICS is seeing minimal growth due to factors such as changing consumer preferences towards healthier options, strict regulations on meat processing and increasing concerns about the environmental impact of meat production. Additionally, the sub-markets of Ham & Bacon, Sausages, and Cold & Roast Meat Products are facing challenges such as rising costs of raw materials and competition from alternative protein sources. These factors are impacting the overall market's growth rate and driving companies to innovate and diversify their product offerings to sustain growth.

Customer preferences: Consumers in the Processed Meat Market of the Meat Market within The Food market are increasingly prioritizing sustainability and ethical sourcing when making purchasing decisions. This trend is driven by growing awareness of the environmental and social impacts of meat production, as well as a desire for transparency and accountability from food companies. As a result, vegetarian and plant-based meat alternatives are gaining popularity, and companies are investing in sustainable and ethical practices to cater to this growing demand.

Trends in the market: In the BRICS countries, the Processed Meat market is witnessing a shift towards healthier alternatives, such as plant-based and organic options. This trend is driven by increasing consumer awareness of the health risks associated with processed meats, as well as concerns over animal welfare and sustainability. The trajectory of this trend suggests that demand for these products will continue to rise, presenting opportunities for industry stakeholders to tap into new markets. However, this shift may also pose challenges for traditional processed meat producers, who may need to adapt their products and production processes to meet changing consumer preferences. Additionally, regulatory changes and stricter labeling requirements may also impact the industry landscape. Overall, the current trend towards healthier processed meat options highlights the need for industry players to stay abreast of evolving consumer preferences and adapt their strategies accordingly.

Local special circumstances: In the Processed Meat Market of the Meat Market within The Food market, Brazil stands out with its unique culture and regulatory environment. Brazil has a long tradition of consuming processed meats, with popular dishes like feijoada and churrasco. This has led to a high demand for processed meat products, both domestically and internationally. Additionally, Brazil has implemented strict regulations for the production and labeling of processed meats, ensuring quality and safety for consumers. These factors contribute to the dynamic growth of the processed meat market in Brazil.

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, trade policies, and government regulations. With the rise of health-conscious consumers, there is a growing demand for healthier and more sustainable food options, leading to a shift towards plant-based and organic processed meats. Additionally, fluctuations in global meat prices and the availability of raw materials can greatly affect the production and pricing of processed meat products. Furthermore, government initiatives to improve food safety standards and promote sustainable farming practices can also impact 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.