Baby Milk & Infant Formula - Guinea

Guinea

Highlights

Revenue in the Baby Milk & Infant Formula market amounts to US$9.68m in 2024. The market is expected to grow annually by 5.08% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$17bn in 2024).
In relation to total population figures, per person revenues of US$0.67 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 315.60k kg by 2029. The Baby Milk & Infant Formula market is expected to show a volume growth of 1.5% in 2025.0.
The average volume per person in the Baby Milk & Infant Formula market is expected to amount to 0.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Baby Milk & Infant Formula Market in Guinea is experiencing slow growth, impacted by factors such as low adoption of digital technologies, lack of health awareness among consumers, and limited availability of online services. This has resulted in a negligible growth rate for the market within the larger Baby Food Market in Guinea nan.

Customer preferences: The Baby Milk & Infant Formula Market within the Baby Food Market is witnessing a growing demand for organic and natural products, as parents become more health-conscious and seek to provide their babies with nutritious and safe options. This trend is further fueled by the increasing availability of information and resources on the benefits of organic and natural ingredients. Additionally, there is a growing preference for plant-based and dairy-free options among parents who are following vegan or vegetarian diets themselves.

Trends in the market: In Guinea, the Baby Milk & Infant Formula Market is experiencing a surge in demand due to rising awareness about the benefits of formula feeding. This trend is expected to continue in the coming years, driven by increasing urbanization and a growing middle class population. As a result, major players in the industry are expanding their production capacities and introducing new products to cater to this demand. This trend also presents an opportunity for international brands to enter the market and compete with local players. However, there is a concern about the affordability of these products for low-income families, which could potentially limit the growth of the market. Additionally, there is a growing focus on providing safe and nutritious infant formula, with stricter regulations being implemented to ensure quality and safety standards are met. This trend towards stricter regulations and increasing demand for formula presents both challenges and opportunities for industry stakeholders in Guinea.

Local special circumstances: In Guinea, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market faces unique challenges due to the country's low income levels and limited access to healthcare facilities. This has resulted in a high demand for affordable and accessible infant nutrition products. Additionally, strict government regulations on the import and sale of baby formula have created a barrier for international brands, giving a competitive edge to local manufacturers. The cultural preference for breastfeeding also plays a significant role in shaping the market dynamics.

Underlying macroeconomic factors: The Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily influenced by macroeconomic factors such as population growth, consumer purchasing power, and government policies. Countries with high population growth rates and a growing middle class, such as China and India, are expected to drive significant growth in the market. In addition, government policies that promote breastfeeding and regulate the quality and safety of baby formula also impact market performance. Economic stability and favorable fiscal policies can also contribute to consumer confidence and increase spending on baby formula products.

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.