Key regions: Russia, China, Spain, Canada, United Kingdom
The Meat Market in Western Asia is experiencing slow growth due to factors such as a shift towards healthier eating habits and increasing concerns about the environmental impact of meat consumption. The Fresh and Processed Meat sub-markets are particularly affected, with consumers turning to Meat Substitutes such as plant-based alternatives. This trend is likely to continue, driven by a growing demand for more sustainable and ethical food options in the region.
Customer preferences: The Meat Market within The Food market is experiencing a shift towards more sustainable and ethical meat consumption. Consumers are increasingly interested in knowing the source of their meat and are opting for locally sourced, organic and free-range options. This trend is driven by a growing awareness of the environmental impact of meat production and a desire for healthier, more ethical food choices. Additionally, the rise of flexitarian and plant-based diets is also impacting consumer preferences in the meat market, leading to a rise in alternative protein options like plant-based burgers and meat substitutes.
Trends in the market: In Western Asia, the Meat Market within The Food market is experiencing a shift towards healthier and more sustainable options. This includes a rise in demand for plant-based meat alternatives and ethically sourced meats. As consumer awareness and concerns over animal welfare and environmental impact grow, industry players are investing in research and development to meet these demands. This trend is expected to continue, with potential implications for stakeholders such as suppliers, retailers, and restaurants. By incorporating these trends into their offerings, they can appeal to a wider customer base and stay ahead of the competition.
Local special circumstances: In Western Asia, the Meat Market within The Food market is heavily influenced by cultural and religious factors. With a large Muslim population, the demand for halal meat is high, leading to the growth of halal meat producers and retailers. Additionally, the region's arid climate and limited grazing land have led to a reliance on imported meat from countries like Australia and Brazil. Furthermore, government regulations and import restrictions play a significant role in shaping the market dynamics, with strict regulations on animal welfare and food safety. These unique local factors make the Meat Market within The Food market in Western Asia distinct from other markets, driving demand for halal and imported meats.
Underlying macroeconomic factors: The Meat Market within The Food market in Western Asia is heavily influenced by macroeconomic factors such as consumer spending power, government policies, and global trade dynamics. Countries with stable economic conditions and supportive policies for the food industry are experiencing steady market growth, while those with economic challenges and trade restrictions are facing market constraints. Additionally, the increasing demand for high-quality and safe meat products, as well as the rise in population and urbanization, are driving the growth of the Meat Market in Western Asia.
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.
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