Meat - Asia

Asia

Revenue in the Meat market amounts to €521.40bn in 2024. The market is expected to grow annually by 6.22% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€253bn in 2024).
In relation to total population figures, per person revenues of €114.70 are generated in 2024.
In the Meat market, volume is expected to amount to 74.85bn kg by 2029. The Meat market is expected to show a volume growth of 3.5% in 2025.
The average volume per person in the Meat market is expected to amount to 14.1kg in 2024.

Key regions: Russia, China, Spain, Canada, United Kingdom

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Food market in Asia, particularly the Meat Market, has been facing minimal growth due to a variety of factors. The increasing demand for healthy and sustainable food options has led to a rise in the popularity of Meat Substitutes. However, the traditional preference for Fresh and Processed Meat products has hindered the growth of the overall market. Additionally, the high cost of meat production and distribution in the region has also impacted the market's growth rate.

Customer preferences: As consumers become more health-conscious, there is a growing demand for sustainable and ethically-sourced meat products in Asia. This trend is driven by cultural values and increasing awareness of the environmental impact of meat consumption. Additionally, there is a shift towards alternative protein sources, such as plant-based meat, as consumers seek healthier and more environmentally-friendly options. This can be seen in the rise of vegetarian and vegan diets among younger generations in Asia, indicating a growing preference for plant-based alternatives in the meat market.

Trends in the market: In Asia, there is a rising demand for plant-based meat alternatives as consumers become more health-conscious and environmentally aware. In China, the market for plant-based meat is expected to grow at a CAGR of 30% over the next five years. In Japan, the government has set a target to reduce meat consumption by 25% by 2030, leading to an increase in plant-based meat options. These trends indicate a shift towards more sustainable and healthier food choices in the region, which could have significant implications for the meat industry stakeholders.

Local special circumstances: In China, the Meat Market is heavily influenced by government regulations and cultural preferences. The Chinese government has strict regulations on meat imports, leading to a preference for locally sourced meat. Additionally, the Chinese population has a strong preference for fresh meat, leading to a large market for live animal markets and butchers. This cultural preference for fresh meat also drives the demand for refrigeration and cold chain logistics in the Meat Market.

Underlying macroeconomic factors: The Meat Market within The Food market industry in Asia is greatly impacted by macroeconomic factors such as economic growth, consumer spending, and government policies. With the increasing disposable income of consumers in developing countries, there is a growing demand for meat products, leading to market growth. Additionally, government initiatives to support the agriculture sector and improve food security also play a significant role in driving market growth. However, challenges such as rising production costs and environmental concerns are affecting the market. Moreover, the ongoing trade tensions and global economic uncertainties could also impact the market growth in the region.

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.