Baby Milk & Infant Formula - Gabon

Gabon

Revenue in the Baby Milk & Infant Formula market amounts to US$10.83m in 2024. The market is expected to grow annually by 3.02% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (US$16,850m in 2024).
In relation to total population figures, per person revenues of US$4.36 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 0.44m kg by 2029. The Baby Milk & Infant Formula market is expected to show a volume growth of 2.5% in 2025.
The average volume per person in the Baby Milk & Infant Formula market is expected to amount to 0.2kg in 2024.

Key regions: South Korea, India, United Kingdom, United States, Japan

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Analyst Opinion

The Baby Milk & Infant Formula Market in Gabon has seen minimal growth due to factors such as low birth rate and preference for traditional infant feeding practices. However, increasing health awareness and availability of online services could drive growth in the future.

Customer preferences: Consumers in Gabon are gravitating towards organic and all-natural baby milk and infant formula options, driven by a growing awareness of the benefits of natural and chemical-free products. This trend is also influenced by a desire for sustainable and environmentally-friendly products. Additionally, the rising number of working mothers in Gabon has resulted in an increased demand for convenient and on-the-go baby food options, such as ready-to-feed and single-serve packaging.

Trends in the market: In Gabon, there is a growing demand for organic and natural baby milk and infant formula products. This trend is driven by increasing awareness about the potential health benefits of using clean and natural ingredients for babies. As a result, companies are investing in research and development to create new organic and natural formulas. This trend is expected to continue, as consumers become more conscious about the ingredients in their baby's food. This could lead to a shift in the market towards healthier and more sustainable options, presenting both challenges and opportunities for industry stakeholders.

Local special circumstances: In Gabon, the Baby Milk & Infant Formula market is heavily influenced by cultural factors. Breastfeeding is the preferred method of feeding for infants, making the adoption of formula less common. Additionally, the country's high import tariffs and limited availability of international brands create a competitive advantage for local producers. These unique factors contribute to the slower growth of the Baby Milk & Infant Formula market in Gabon compared to other markets.

Underlying macroeconomic factors: The Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. The market is highly susceptible to changes in consumer spending patterns and overall economic stability. For instance, during times of economic downturn, consumers are more likely to opt for cheaper alternatives, leading to a decline in demand for premium baby milk and infant formula products. Additionally, government policies and regulations related to food safety, labeling, and advertising also play a significant role in shaping market performance. Therefore, it is crucial for companies operating in this market to stay informed and adapt to macroeconomic changes to maintain a competitive edge.

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.