Meat - Southern Asia | Statista Market Forecast

Revenue in the Meat market amounts to US$79.25bn in 2024. The market is expected to grow annually by 8.12% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$273bn in 2024).
In relation to total population figures, per person revenues of US$41.37 are generated in 2024.
In the Meat market, volume is expected to amount to 14.28bn kg by 2029. The Meat market is expected to show a volume growth of 3.4% in 2025.0.
The average volume per person in the Meat market is expected to amount to 6.4kg in 2024.

Definition:

The Meat market covers animal (both domestic and wild) and non-animal meat that are bought and consumed for nutrient-based purposes.

Structure:

The market consists of 3 different submarkets:

The Fresh Meat market covers meat from both domestic and wild animals that are fresh, chilled, or frozen. This market is divided into five submarkets: beef & veal, pork, mutton & goat, poultry, and other fresh meat.
The Processed Meat market covers all types of meat that has been dried, salted, brined, or smoked. This segment is divided into three subsegments: cold & roast meat products, ham & bacon, sausages.
The Meat Substitutes market covers meat-replacement food items created from vegetarian or vegan components.

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.

For more information on the displayed data, click the info button on the right side of each box.

Fresh Meat
Processed Meat
Meat Substitutes

Meat-based ready-to-eat meals
Out-of-home consumption

The Southern Asia Meat Market is experiencing minimal growth, influenced by factors such as changing consumer preferences towards healthier and sustainable food options, the growing trend of meat substitutes, and increasing awareness about the environmental impact of traditional meat production. Despite the slow growth, The Food market in Southern Asia is expected to see a rise in demand for Fresh Meat, Processed Meat, and Meat Substitutes due to the region's growing population and rising disposable income.

Customer preferences: As a result of growing health-consciousness and changing dietary preferences in Southern Asia, there has been a significant rise in demand for plant-based and alternative protein sources within the Meat Market. This trend is fueled by factors such as a growing vegetarian and vegan population, concerns about the environmental impact of meat production, and health benefits associated with plant-based diets. In addition, the increasing availability and variety of plant-based meat substitutes are also contributing to the shift towards a more plant-centric diet.

Trends in the market: In Southern Asia, the Meat Market within The Food market is experiencing a shift towards healthier and more sustainable options. There is a growing demand for plant-based meat alternatives, driven by concerns for animal welfare and environmental sustainability. This trend is expected to continue as consumers become more health-conscious and aware of the impact of their food choices. Additionally, with the rise of online food delivery platforms, there is a potential for the Meat Market to tap into a wider customer base and increase sales. However, this trend also poses challenges for traditional meat producers and retailers, who may need to adapt their business models to keep up with changing consumer preferences. Overall, the trajectory of this trend highlights the need for industry stakeholders to stay informed and adapt to evolving market demands.

Local special circumstances: In Southern Asia, the Meat Market within The Food market is influenced by a range of factors that are unique to the region. For example, in countries like India and Pakistan, there is a strong cultural preference for consuming meat, particularly in certain regions and communities. This has led to a high demand for meat products, and a thriving local market. Additionally, the regulatory landscape in this region can be complex, with varying laws and regulations governing the meat industry. These factors play a significant role in shaping the market dynamics and consumer behavior in the Meat Market within The Food market in Southern Asia.

Underlying macroeconomic factors: The Meat Market within The Food market in Southern Asia is greatly impacted by macroeconomic factors such as economic growth, consumer spending, and trade policies. As the region experiences rapid economic growth, there is a rise in disposable income and a shift towards a more Westernized diet, leading to an increase in demand for meat products. Additionally, favorable trade policies and investments in meat production infrastructure have further fueled market growth. However, challenges such as inflation and trade tensions with global partners can affect the cost of meat production and ultimately impact market performance.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

In the past, many cultures considered meat a luxury that could only be enjoyed on special occasions or certain days of the week, while today it is a staple that can be found in nearly all restaurants and many kitchens all over the world. The market value of the meat industry is expected to rise from 897.5 billion U.S. dollars in 2021 to over 1.3 trillion dollars by 2027. In 2022, the United States saw the highest revenue from meat products and sausages, over five billion U.S. dollars more than the second largest meat market in the world, Germany with a revenue of over 33.6 billion U.S. dollars. France, Russia, and Mexico are finishing the top five countries with the biggest revenue from processed meats.