Bread - Equatorial Guinea

Equatorial Guinea

Highlights

Revenue in the Bread market amounts to US$44.94m in 2024. The market is expected to grow annually by 5.85% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$80bn in 2024).
In relation to total population figures, per person revenues of US$25.61 are generated in 2024.
In the Bread market, volume is expected to amount to 17.31m kg by 2029. The Bread market is expected to show a volume growth of 2.5% in 2025.0.
The average volume per person in the Bread market is expected to amount to 8.4kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The bread market in Equatorial Guinea is experiencing minimal growth due to factors such as low consumer awareness and limited access to digital technologies. However, the convenience of online bread services is slowly driving growth in this market.

Customer preferences: As Equatorial Guinea experiences economic growth and a rise in middle-class population, demand for artisanal and premium bread products is on the rise. Health-conscious consumers are increasingly seeking whole-grain and gluten-free options, driving the growth of niche bread categories. Additionally, the trend towards convenience and on-the-go snacking has led to an increase in demand for individually packaged bread products, such as sandwiches and wraps.

Trends in the market: In Equatorial Guinea's Bread & Cereal Products Market, the current trend is towards a growing demand for healthier and more diverse options, in line with global consumer preferences. This has led to an increase in the availability of whole grain, gluten-free, and organic bread products. Additionally, there is a focus on promoting local production and reducing dependence on imported products. These trends have significant implications for industry stakeholders, as they must adapt their production and marketing strategies to cater to changing consumer preferences and remain competitive in the market.

Local special circumstances: In Equatorial Guinea, the Bread Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's geographical location and limited access to resources. The majority of the population relies on locally produced bread, creating a high demand for traditional bread-making methods. Additionally, the government's strict regulations on imported goods limit the availability of international bread brands. This unique market environment has led to a thriving local bread industry, with a focus on affordability and accessibility for the country's population.

Underlying macroeconomic factors: The Bread Market of the Bread & Cereal Products Market within The Food market in Equatorial Guinea is affected by various macroeconomic factors, including the country's economic stability, global economic trends, and fiscal policies. The nation's economy heavily relies on oil exports, making it vulnerable to fluctuations in global oil prices. As a result, any changes in the global oil market can have a significant impact on the purchasing power of consumers and their ability to afford bread products. Additionally, the country's political stability and investment in infrastructure also play a significant role in shaping the bread market.

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.