Contact
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
Key regions: United States, Canada, China, India, South Korea
The Food market in Southern Europe is experiencing minimal growth, influenced by factors such as changing consumer dietary preferences, increasing demand for convenience food, and the availability of substitute products. Despite the presence of a diverse range of sub-markets such as Dairy Products & Eggs and Meat, Fish & Seafood, the overall market growth is impacted by economic uncertainties and shifting consumer trends. This poses a challenge for businesses looking to capitalize on the potential of this market.
Customer preferences: As Southern European countries continue to experience economic recovery, consumer preferences in The Food market are shifting towards more sustainable and ethical food options. This trend is driven by a growing awareness of the environmental impact of food production and consumption, as well as the desire for healthier and more ethical food choices. Additionally, there is a growing demand for locally sourced and organic products, reflecting the cultural value placed on traditional farming methods and regional cuisine. As a result, food companies are adapting their offerings to cater to these evolving consumer preferences.
Trends in the market: In Southern Europe, The Food market industry is experiencing a surge in demand for organic and locally sourced food products. This trend is driven by a growing awareness of the health and environmental benefits of sustainable food production. With consumers becoming more mindful of what they eat, there is a growing market for specialty and artisanal food products. This trend is expected to continue in the coming years, with industry stakeholders investing in sustainable practices and expanding their product offerings to cater to this growing segment.
Local special circumstances: In Southern Europe, The Food market is influenced by a combination of factors, including the region's rich culinary traditions, the Mediterranean climate that supports diverse agriculture, and the strong cultural emphasis on fresh and local ingredients. Additionally, strict regulations on food production and labeling ensure high quality standards. These factors contribute to a unique food culture and market dynamics, with a strong focus on traditional and artisanal products. Moreover, the region's tourism industry drives demand for authentic food experiences, creating opportunities for small businesses and local producers.
Underlying macroeconomic factors: The Food market market in Southern Europe is heavily influenced by macroeconomic factors such as consumer purchasing power, disposable income, and consumer confidence. Economic stability and growth in the region have a direct impact on consumer spending habits, which in turn affect the demand for food products. In countries with a strong economy and high consumer confidence, there is a higher demand for premium and specialty food products, while in countries with economic challenges, consumers tend to favor more affordable options. Additionally, changing consumer preferences, such as a shift towards healthier and more sustainable food choices, also play a significant role in shaping The Food market market in Southern Europe.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)