Meat - Bulgaria

Bulgaria

Revenue in the Meat market amounts to €2,066.00m in 2024. The market is expected to grow annually by 4.82% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€251bn in 2024).
In relation to total population figures, per person revenues of €312.20 are generated in 2024.
In the Meat market, volume is expected to amount to 288.40m kg by 2029. The Meat market is expected to show a volume growth of 2.7% in 2025.
The average volume per person in the Meat market is expected to amount to 38.9kg in 2024.

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

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Región

Comparación de regiones

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Analyst Opinion

The Meat Market in Bulgaria has been experiencing slow growth, influenced by factors such as consumer preferences for healthier food options, increasing popularity of vegetarian and vegan diets, and the rise of alternative protein sources. The sub-markets of Fresh Meat, Processed Meat, and Meat Substitutes each play a role in shaping the overall market, with various challenges and opportunities impacting their individual growth rates.

Customer preferences: The demand for plant-based meat alternatives has been steadily increasing in Bulgaria, as consumers become more health-conscious and environmentally aware. This trend is driven by the growing popularity of vegetarian and vegan diets, as well as concerns over animal welfare and sustainability. In addition, the rise of e-commerce and online grocery shopping has made it easier for consumers to access a wider variety of meat-free options. This shift towards plant-based alternatives reflects a changing mindset towards meat consumption and a desire for more sustainable and ethical food choices.

Trends in the market: In Bulgaria, the Meat Market within The Food market industry is witnessing a rise in demand for organic and locally sourced meat products. This trend is driven by the increasing consumer awareness of health and sustainability issues. The trajectory of this trend shows a potential shift towards more sustainable and ethical practices within the industry. This has significant implications for industry stakeholders, as they may need to adapt their production processes and marketing strategies to meet consumer demands. Additionally, this trend could potentially lead to a more competitive market, with new players entering the industry to cater to the growing demand for organic and locally sourced meat products.

Local special circumstances: In Bulgaria, the Meat Market within The Food market is heavily influenced by the country's rich history and traditional cuisine. The consumption of meat, particularly pork and lamb, is deeply embedded in Bulgarian culture. Additionally, the country's geographic location and climate make it ideal for rearing livestock, leading to a strong supply of locally sourced meat. Furthermore, the strict regulations surrounding food safety and animal welfare in Bulgaria contribute to the high quality of meat products, making it a sought-after market for both domestic and international consumers.

Underlying macroeconomic factors: The Meat Market within The Food market in Bulgaria is heavily influenced by macroeconomic factors such as consumer spending, economic growth, and government policies. As the country experiences economic growth and an increase in disposable income, consumers have more purchasing power and are likely to spend more on meat products. Additionally, government policies such as trade agreements and import/export regulations can impact the availability and prices of meat in the market. Other factors such as inflation, currency exchange rates, and consumer preferences also play a significant role in shaping the performance of the Meat Market in Bulgaria.

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.