Convenience Food - Armenia

Armenia

Revenue in the Convenience Food market amounts to €322.50m in 2024. The market is expected to grow annually by 8.81% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€141bn in 2024).
In relation to total population figures, per person revenues of €116.10 are generated in 2024.
In the Convenience Food market, volume is expected to amount to 86.05m kg by 2029. The Convenience Food market is expected to show a volume growth of 6.8% in 2025.
The average volume per person in the Convenience Food market is expected to amount to 24.5kg in 2024.

Key regions: Canada, China, Spain, Japan, Philippines

Mercado

Región

Comparación de regiones

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Analyst Opinion

The Convenience Food Market in Armenia has been experiencing moderate growth, impacted by factors such as limited consumer awareness, lack of infrastructure, and low disposable income. Despite the presence of sub-markets like Ready-to-Eat Meals and Soups, the overall market growth remains subdued. However, with increasing availability and convenience, as well as rising health consciousness among consumers, the market is expected to see gradual growth in the coming years.

Customer preferences: One notable trend in the Convenience Food Market within The Food market in Armenia is the growing demand for healthier and organic convenience options. This trend is driven by a shift towards more health-conscious lifestyles, as well as increasing concerns about food safety and quality. Consumers are also seeking out convenience food options that cater to specific dietary restrictions, such as gluten-free or vegan options. This trend is also reflected in the rise of health food stores and online delivery services for organic and natural convenience food products.

Trends in the market: In Armenia, the Convenience Food Market within The Food market is experiencing a shift towards healthier, more sustainable options. This trend is being driven by consumer demand for environmentally friendly products and a growing interest in plant-based diets. Additionally, there is a rise in the availability of convenience foods that cater to specific dietary restrictions, such as gluten-free or vegan options. These trends are significant as they align with global movements towards healthier and more sustainable food choices. For industry stakeholders, this means the need to adapt and innovate in order to meet evolving consumer preferences and stay competitive in the market. It also presents opportunities for partnerships and collaborations with local producers and suppliers of sustainable and healthy ingredients.

Local special circumstances: In Armenia, the Convenience Food Market within The Food market is heavily influenced by the country's unique cultural and geographical factors. The country's cuisine is heavily influenced by its history and neighboring countries, resulting in a diverse range of convenience food options. Additionally, regulations on food imports and exports play a crucial role in shaping the market dynamics. These factors contribute to the popularity of traditional Armenian convenience foods, such as lavash and dolma, and the limited presence of international convenience food chains.

Underlying macroeconomic factors: The Convenience Food Market within The Food market in Armenia is heavily influenced by macroeconomic factors such as economic stability, consumer spending power, and government policies. The country's GDP growth rate and inflation rate have a direct impact on the purchasing power of consumers, which in turn affects the demand for convenience foods. Additionally, government initiatives to promote healthy eating habits and regulate food safety standards play a crucial role in shaping the market landscape. Moreover, the rising trend of urbanization and busy lifestyles in Armenia is driving the demand for convenience foods, as consumers seek quick and easy meal options.

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.