Meat consumption in Georgia stood at 192 mn kg in 2022, out of which 148.4mn kg (77.3% of total) was primary meat products and 43.6mn kg processed meat. Poultry is the most demanded meat category, followed by pork and beef. Local production meets half of the meat consumption, while the remaining portion is imported. Total revenue generated by meat producers amounted to GEL 1.5bn in 2022, raeds the recent publication of Galt & Taggart on Meat and Meat Products in Georgia.
According to the report, Georgia's per capita meat consumption stood slightly above the global average at 39 kg in 2022.
"We forecast average annual growth at 5.0% in primary meat consumption and 8.0% in processed meat consumption in 2023-2027. This growth is expected to be fueled by the rising purchasing power of the population and the expanding tourism industry," the authors of the report state.
"Local production meets half of the meat consumption, while the remaining portion is imported. Meat production in Georgia witnessed a 2.8% CAGR from 2017 to 2022, reaching 74.6mn kg. The self-sufficiency rate of meat increased from 48% to 50%, showing a positive trend. The share of local production in meat products declined slightly from 88% in 2017 to 85% in 2022.
Households greatly contribute to meat production in Georgia, accounting for 40% in 2022. High household involvement has resulted in lower profitability compared to European peers. Total revenue generated by meat producers amounted to GEL 1.5bn in 2022, of which processed meat manufacturers contributed GEL 531mn, while primary meat production accounted for GEL 930mn. Poultry production stands out as the most developed sector, characterized by higher profitability.
The corporate sector in all meat categories, including poultry, has substantial growth potential. Factors driving growth include increasing demand, import substitution, and a reduction in the share of household production. Investment opportunities exist in expanding production facilities, improving efficiency, and enhancing value-added products.
Meat and meat product imports in Georgia reached US$ 187.2mn in 2022, growing by 35.0% y/y. Exports amounted to US$ 48.4mn, marking a 57.9% y/y rise, primarily driven by re-exports. The majority of meat imports originate from Brazil, with frozen poultry and pork as the primary imported products," the report said.
