Food - Turkmenistan

Turkmenistan

Revenue in the Food market amounts to US$2,643.00m in 2024. The market is expected to grow annually by 11.34% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$489.00m in 2024.
In global comparison, most revenue is generated in China (US$1,603bn in 2024).
In relation to total population figures, per person revenues of US$400.60 are generated in 2024.
In the Food market, 3.1% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 961.50m kg by 2029. The Food market is expected to show a volume growth of 4.4% in 2025.
The average volume per person in the Food market is expected to amount to 124.90kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and 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. The out-of-home revenue data is only shown as a separate box at the market level.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Food market in Turkmenistan is experiencing subdued growth, influenced by factors such as limited consumer awareness and lack of access to digital technologies. However, the market is expected to see significant growth in the coming years, driven by increasing demand for convenience food and rising health consciousness among consumers. Additionally, the government's efforts to improve food safety and promote domestic food production are also expected to contribute to the market's growth.

Customer preferences: As the economy of Turkmenistan continues to grow, there has been a noticeable shift in consumer preferences towards healthier and more sustainable food options. This is reflected in the rising demand for organic and locally sourced products, as well as a preference for plant-based and vegetarian diets. This trend is largely driven by the increasing awareness of the environmental impact of food production and the health benefits of a balanced diet. Additionally, the growing urban population has led to a rise in demand for convenient and healthy on-the-go options, such as meal delivery services and grab-and-go options at supermarkets.

Trends in the market: In Turkmenistan, The Food market industry is experiencing a rise in demand for locally-sourced, organic products. This trend is being driven by consumer preference for healthy and sustainable food options. As a result, there is an increasing number of small-scale farmers and producers entering the market, offering a wider variety of products. This trend is significant as it indicates a shift towards more conscious consumerism and has potential implications for industry stakeholders, such as the need for improved supply chain management and marketing strategies to cater to this growing demand.

Local special circumstances: In Turkmenistan, The Food market faces unique challenges due to the country's geographical location and cultural influences. Being a largely desert country, the lack of arable land and water resources hinders the production and distribution of food products. Additionally, the traditional nomadic lifestyle of the Turkmen people has resulted in a limited domestic market for processed or packaged foods. As a result, The Food market in Turkmenistan is heavily reliant on imports from neighboring countries. This has led to fluctuations in prices and availability of certain food items, making it a volatile market for businesses to navigate. Furthermore, the strict government regulations on food imports and distribution add another layer of complexity to the market dynamics.

Underlying macroeconomic factors: The Food market in Turkmenistan is influenced by various macroeconomic factors. The country's national economic health, fiscal policies, and global economic trends play a significant role in shaping the performance of the market. For instance, Turkmenistan's strong economic growth and stable political climate create a conducive environment for The Food market to thrive. Additionally, the government's investment in infrastructure and efforts to diversify the economy has led to an increase in disposable income, which has positively impacted the purchasing power of consumers. However, the market is also affected by challenges such as trade restrictions and fluctuations in commodity prices, which can impact the cost of food products. The ongoing COVID-19 pandemic has also affected the market, with disruptions in supply chains and changes in consumer behavior. Overall, The Food market in Turkmenistan is expected to continue to grow, driven by factors such as increasing population, rising urbanization, and changing dietary patterns.

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.