Processed Meat - Nepal

Nepal

Revenue in the Processed Meat market amounts to US$354.40m in 2024. The market is expected to grow annually by 7.08% (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$11.95 are generated in 2024.
In the Processed Meat market, volume is expected to amount to 71.86m kg by 2029. The Processed Meat market is expected to show a volume growth of 1.8% in 2025.
The average volume per person in the Processed Meat market is expected to amount to 2.2kg in 2024.

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

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Analyst Opinion

The Meat Market in Nepal, specifically the Processed Meat Market, is experiencing minimal growth due to factors such as lack of awareness, limited availability of processing facilities, and cultural preferences for fresh meat. This is reflected in the sub-markets of Ham & Bacon, Sausages and Cold & Roast Meat Products. Increased health consciousness and the convenience of online services could potentially drive growth in the future.

Customer preferences: Consumers in Nepal are showing a growing preference for processed meat products, such as sausages and deli meats, due to their convenience and longer shelf life. This trend is driven by the busy lifestyles of urban dwellers and the increasing availability of modern retail channels. Additionally, with the rise of middle-class households and a growing awareness of Western dietary habits, there is a shift towards incorporating processed meat as a regular part of meals.

Trends in the market: In Nepal, the Processed Meat Market of the Meat Market within The Food market is experiencing a rise in demand for plant-based meat alternatives, driven by increasing health and environmental concerns. This trend is expected to continue, with a projected annual growth rate of 18.6% in the next five years. This shift towards plant-based options presents opportunities for industry stakeholders to innovate and diversify their product offerings. Additionally, there is a growing demand for locally sourced and organic meat products, highlighting the need for sustainable and ethical practices in the industry.

Local special circumstances: In Nepal, the Processed Meat Market of the Meat Market within The Food market is heavily influenced by the country's mountainous terrain and diverse cultural traditions. Due to the lack of refrigeration and preservation techniques, the demand for processed meat is high, leading to the popularity of locally-made cured meats such as chhurpi and sukuti. Moreover, the country's Hindu and Buddhist religious beliefs also play a significant role in shaping the market, as many Nepalese prefer vegetarian options or strictly adhere to dietary restrictions. These unique local factors greatly impact the market dynamics, driving the demand for traditional and culturally-specific processed meat products.

Underlying macroeconomic factors: The Processed Meat Market within the Meat Market of The Food market in Nepal is greatly influenced by macroeconomic factors. The country's economic health and global economic trends play a significant role in shaping the market. Additionally, fiscal policies and other financial indicators also impact the performance of the market. Nepal's favorable regulatory environment and increasing investment in the food industry have contributed to the growth of the Processed Meat Market. However, challenges such as limited healthcare funding and a growing aging population continue to pose challenges for the market's growth. As the demand for processed meat increases in the country, there is a need for continued investment in healthcare infrastructure and regulatory support to ensure sustainable 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.