Meat - Italy

Italy

Gross production value in Meat market is projected to amount to US$2.52bn in 2024. An annual growth rate of 2.39% is expected (CAGR 2024-2028), resulting in gross production value of US$2.77bn in 2028.
The import value in Meat market is projected to amount to US$3.4bn in 2024. An annual growth rate of -0.30% is expected (CAGR 2024–2028).
The export value in Meat market is projected to amount to US$1.0bn in 2024. An annual growth rate of 3.62% is expected (CAGR 2024–2028).

Key regions: United Kingdom, United States, Brazil, Germany, Italy

Market

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Analyst Opinion

Italy, known for its rich culinary tradition, is a country where food is an integral part of its culture. The meat market in Italy is no exception to this, with a diverse range of meat products being consumed throughout the country.

Customer preferences: Italian cuisine is famous for its meat dishes, and the consumption of meat in Italy is relatively high. However, there is a growing trend towards plant-based diets, and this is reflected in the meat market as well. Consumers are looking for meat alternatives that are healthier and more sustainable. This has led to an increase in the demand for plant-based meat substitutes in Italy.

Trends in the market: One of the main trends in the meat market in Italy is the growing demand for organic and locally sourced meat products. Consumers are becoming more conscious about the quality of the meat they consume, and are willing to pay a premium for meat that is produced in a sustainable and ethical manner. This has led to the rise of small-scale, local meat producers who focus on producing high-quality, organic meat products. Another trend in the meat market in Italy is the increasing popularity of niche meat products. Consumers are looking for unique and exotic meat products that are not commonly available in supermarkets. This has led to an increase in the demand for specialty meat products such as game meat, buffalo meat, and ostrich meat.

Local special circumstances: Italy has a rich tradition of meat production, and this is reflected in the variety of meat products available in the country. Each region of Italy has its own unique meat products, which are often tied to the local cuisine and culture. For example, the Emilia-Romagna region is famous for its prosciutto di Parma and mortadella, while Tuscany is known for its Chianina beef.

Underlying macroeconomic factors: The meat market in Italy is heavily influenced by the country's economic situation. Italy has been facing a period of slow economic growth, which has led to a decline in consumer spending. This has had an impact on the meat market, with consumers becoming more price-sensitive and looking for cheaper alternatives. In conclusion, the meat market in Italy is evolving, with consumers becoming more conscious about the quality and sustainability of the meat they consume. While traditional meat products remain popular, there is a growing demand for plant-based alternatives, organic and locally sourced meat products, and niche meat products. The rich culinary tradition and regional diversity of Italy's meat market provide a unique opportunity for meat producers to cater to the diverse tastes and preferences of Italian consumers.

Methodology

Data coverage:

The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, 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.

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 S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.

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.