Meat - Norway

Norway

Gross production value in Meat market is projected to amount to US$1.41bn in 2024. An annual growth rate of 1.56% is expected (CAGR 2024-2028), resulting in gross production value of US$1.50bn in 2028.
The import value in Meat market is projected to amount to US$152.3m in 2024. An annual growth rate of 20.59% is expected (CAGR 2024–2028).
The export value in Meat market is projected to amount to US$2.6m in 2024. An annual growth rate of -11.58% is expected (CAGR 2024–2028).

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

Market

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Analyst Opinion

Norway is a country with a rich culture and tradition of meat consumption. From the famous Norwegian meatballs to the traditional Christmas dinner of pork ribs, meat has always played a significant role in the Norwegian diet.

Customer preferences: Norwegian consumers prefer high-quality meat products, with a focus on locally sourced and organic options. There is also a growing interest in plant-based meat alternatives, driven by health and environmental concerns. However, meat still remains a staple in the Norwegian diet, with a high per capita consumption rate.

Trends in the market: The Norwegian meat market is experiencing a shift towards more sustainable and ethical practices. This is reflected in the increasing demand for organic and locally sourced meat, as well as the growing popularity of plant-based meat alternatives. Additionally, there is a trend towards premiumization, with consumers willing to pay more for high-quality and unique meat products.

Local special circumstances: Norway's unique geography and climate present challenges for the meat industry. The country's long winters and short growing season limit the availability of locally produced meat, leading to a reliance on imports. Additionally, strict regulations and high production costs make it difficult for small-scale producers to compete in the market.

Underlying macroeconomic factors: The Norwegian economy is stable and prosperous, with a high standard of living and strong purchasing power. This allows consumers to prioritize quality and sustainability when making purchasing decisions. Additionally, the government's focus on promoting sustainable and ethical practices in the food industry is driving the shift towards more responsible meat consumption. However, the COVID-19 pandemic has had an impact on the meat market, with disruptions in the supply chain and changes in consumer behavior.

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.