Processed Meat - Serbia

Serbia

Revenue in the Processed Meat market amounts to US$0.79bn in 2024. The market is expected to grow annually by 3.76% (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$111.90 are generated in 2024.
In the Processed Meat market, volume is expected to amount to 100.30m kg by 2029. The Processed Meat market is expected to show a volume growth of 0.3% in 2025.
The average volume per person in the Processed Meat market is expected to amount to 14.0kg in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Meat Market in Serbia has seen a slow growth rate due to factors such as increasing health consciousness among consumers, government regulations on meat processing, and a shift towards plant-based diets. Despite the sub-markets of Ham & Bacon, Sausages, and Cold & Roast Meat Products, the overall processed meat market is facing challenges in terms of sustainability and ethical concerns. However, the convenience and affordability of processed meat products continue to drive its demand in the country.

Customer preferences: The rise of health-consciousness and the growing demand for plant-based diets in Serbia have led to a decline in the consumption of processed meats. A younger and more health-conscious demographic is gravitating towards natural, organic, and sustainable food options. This trend is further fueled by the increasing awareness of the environmental and ethical implications of meat production. As a result, manufacturers are innovating and introducing new plant-based and alternative protein products to cater to this evolving consumer demand.

Trends in the market: In Serbia, the Processed Meat Market within the Meat Market is experiencing a shift towards healthier and more sustainable options, driven by increasing health consciousness and environmental concerns. This trend is reflected in the rise of plant-based meat alternatives and the use of more natural and organic ingredients in processed meat products. Industry stakeholders are adapting to these changes by incorporating these trends into their product offerings and marketing strategies. Moving forward, this trajectory is expected to continue as consumers demand for healthier and more sustainable food options, presenting opportunities for growth and innovation in the Processed Meat Market.

Local special circumstances: In Serbia, the Processed Meat Market of the Meat Market within The Food market is heavily influenced by cultural preferences and traditional consumption patterns. The country has a strong meat-eating culture, with a preference for cured and smoked meats. Additionally, strict regulations on meat production and labeling have been implemented in recent years, leading to a focus on high-quality and locally-sourced ingredients. These factors play a significant role in shaping the market dynamics and consumer behavior in the Processed Meat Market in Serbia.

Underlying macroeconomic factors: The Processed Meat Market within the Meat Market of The Food market is impacted by macroeconomic factors such as consumer purchasing power, inflation rates, and economic stability. The demand for processed meat products is highly dependent on consumer spending, and any fluctuations in disposable income can have a significant impact on market performance. Furthermore, changes in inflation rates and overall economic stability can affect production costs and pricing strategies, ultimately influencing consumer behavior and market demand. Other key factors include government policies and trade agreements that can impact import/export regulations and market competition, driving market growth or hindering it.

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.