Meat Substitutes - Algeria

Algeria

Revenue in the Meat Substitutes market amounts to €5.93m in 2024. The market is expected to grow annually by 17.12% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€2,175m in 2024).
In relation to total population figures, per person revenues of €0.13 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 473.20k kg by 2029. The Meat Substitutes market is expected to show a volume growth of 10.1% in 2025.
The average volume per person in the Meat Substitutes market is expected to amount to 0.0kg in 2024.

Key regions: Spain, Russia, United Kingdom, South Korea, India

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Analyst Opinion

The Meat Substitutes Market in Algeria is experiencing average growth, driven by factors such as increasing health consciousness and convenience of plant-based alternatives in The Food market. This trend is expected to continue due to the growing demand for sustainable and healthier food options in the country.

Customer preferences: As consumers become more health-conscious and environmentally aware, there has been a noticeable rise in demand for plant-based meat substitutes in Algeria. This trend is driven by a growing preference for healthier and more sustainable food options. Additionally, the rise of veganism and flexitarianism in the country has also contributed to the increased popularity of meat alternatives. This shift is indicative of a broader cultural shift towards more conscious and ethical consumption habits.

Trends in the market: In Algeria, the Meat Substitutes Market is experiencing a surge in demand, driven by the growing health and environmental consciousness among consumers. This trend is expected to continue, with a projected CAGR of 9.5% from 2021 to 2026. With the increasing popularity of plant-based diets and the rise of flexitarianism, companies are introducing innovative meat alternative products to cater to this demand. This trend has significant implications for industry stakeholders, as they must adapt their strategies to meet the changing consumer preferences and capitalize on the opportunities in this market.

Local special circumstances: In Algeria, the Meat Substitutes Market of the Meat Market within The Food market is influenced by the country's predominantly Muslim population, with a large portion of consumers adhering to Halal dietary restrictions. This has led to the development of locally sourced and certified Halal meat substitutes. Additionally, the government's focus on promoting sustainable and ethical food practices has also spurred the growth of plant-based meat alternatives, catering to the country's growing demand for healthier and environmentally friendly food options.

Underlying macroeconomic factors: The Meat Substitutes Market in Algeria is greatly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. The country's economic growth and stability play a crucial role in market performance. Additionally, government policies and regulations on food and agriculture also influence the demand and supply dynamics of the market. The increasing consumer preference for plant-based protein sources and the growing health awareness among the population are driving the demand for meat substitutes in Algeria. However, challenges such as limited availability of raw materials and high production costs hinder the growth of the market.

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.