Ready-to-Eat Meals - Guyana

Guyana

Highlights

Revenue in the Ready-to-Eat Meals market amounts to US$24.73m in 2024. The market is expected to grow annually by 6.29% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$149bn in 2024).
In relation to total population figures, per person revenues of US$30.18 are generated in 2024.
In the Ready-to-Eat Meals market, volume is expected to amount to 15.15m kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 2.0% in 2025.0.
The average volume per person in the Ready-to-Eat Meals market is expected to amount to 16.4kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Ready-to-Eat Meals market in Guyana is experiencing minimal growth, impacted by factors such as low consumer awareness and limited availability of online food services. Despite this, convenience remains a key driver for the market's slow growth rate within the wider Food Market.

Customer preferences: As the busy lifestyles of consumers in Guyana continue to drive demand for convenience food, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is experiencing a shift towards healthier and more diverse options. This trend is influenced by the growing health consciousness among consumers, as well as the rising prevalence of chronic diseases such as diabetes and hypertension in the country. As a result, there is an increasing demand for ready-to-eat meals that cater to specific dietary needs, such as gluten-free, vegan, and low-sugar options. This shift towards healthier options is also seen in the use of traditional local ingredients and flavors in ready-to-eat meals, reflecting a cultural appreciation for traditional and natural foods. Additionally, the growing availability of online food delivery services in Guyana is making it easier for consumers to access a wider range of ready-to-eat meals, promoting convenience and variety in their daily diet.

Trends in the market: In Guyana, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is experiencing a surge in demand due to busy lifestyles and the convenience they offer. Additionally, there is a growing trend towards healthier and more diverse options, with an emphasis on locally sourced ingredients. This trend is expected to continue as consumers prioritize convenience and health in their food choices. Industry stakeholders should focus on innovating and diversifying their product offerings to cater to this trend and maintain a competitive edge in the market.

Local special circumstances: In Guyana, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is driven by the high demand for quick and convenient meal options in the busy urban areas. The country's diverse population also contributes to the unique flavors and ingredients found in these meals. Additionally, strict import regulations on certain food products have led to the growth of local manufacturers, resulting in a thriving domestic market for ready-to-eat meals. Moreover, the country's tropical climate and proximity to South America have influenced the availability and popularity of certain types of ready-to-eat meals, such as plantain-based dishes.

Underlying macroeconomic factors: The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is heavily influenced by macroeconomic factors such as consumer purchasing power, availability of resources, and government policies. Countries with strong economic growth and stable inflation rates tend to have higher demand for convenience food products. Similarly, countries with high levels of urbanization and a growing middle class are also key drivers of market growth. Additionally, changing lifestyles and busy work schedules are leading to an increased demand for convenient and ready-to-eat meal options, further fueling market growth.

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.