Cheese - Equatorial Guinea

Equatorial Guinea

Highlights

Revenue in the Cheese market amounts to US$11.57m in 2024. The market is expected to grow annually by 11.38% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$32bn in 2024).
In relation to total population figures, per person revenues of US$6.59 are generated in 2024.
In the Cheese market, volume is expected to amount to 1.50m kg by 2029. The Cheese market is expected to show a volume growth of 7.7% in 2025.0.
The average volume per person in the Cheese market is expected to amount to 0.6kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Cheese Market in Equatorial Guinea is experiencing subdued growth due to factors such as limited access to technology, low health awareness, and lack of convenience in online services. Despite these challenges, the market continues to grow as consumers show increasing interest in dairy products and eggs, driving the overall growth of The Food market in the country.

Customer preferences: In Equatorial Guinea, consumers have shown a growing interest in artisanal and locally produced cheeses, as well as imported specialty cheeses. This trend can be attributed to a growing awareness and appreciation for the cultural significance of cheese in the country's cuisine. Additionally, as the population becomes more health-conscious, there is a demand for healthier cheese options, such as low-fat or non-dairy alternatives. This shift towards healthier options is also influenced by the increasing number of lactose-intolerant individuals and the rise of veganism in the country.

Trends in the market: In Equatorial Guinea, the Cheese Market of the Dairy Products & Eggs Market within The Food market is experiencing an increase in demand for artisanal and specialty cheeses. This trend is driven by the growing interest in gourmet and high-quality products, as well as the influence of Western cuisine. As a result, there has been a rise in the number of cheese shops and specialty stores offering a wide range of imported and domestic cheese options. This trend is expected to continue, with industry stakeholders focusing on diversifying their product offerings and expanding their distribution channels to meet the demand. Additionally, there is a potential for collaborations and partnerships between local cheese producers and international cheese brands, leading to an increase in the production and availability of unique and high-quality cheese products.

Local special circumstances: In Equatorial Guinea, the Cheese Market has a unique dynamic due to the country's limited dairy production and high import costs. This has resulted in a smaller market size and higher prices for cheese products. Additionally, the country's cultural preference for fresh, locally produced foods has led to a lower demand for processed cheese. Government regulations on importation and food safety standards also play a significant role in shaping the market landscape. These factors create a niche market for specialty and imported cheeses, catering to a more affluent consumer base.

Underlying macroeconomic factors: The Cheese Market of the Dairy Products & Eggs Market within The Food market is greatly impacted by macroeconomic factors in Equatorial Guinea. The country's slow economic growth, high poverty levels, and limited infrastructure investment have hindered market growth. However, the increasing demand for dairy products and eggs due to rising population and changing dietary preferences presents growth opportunities for the market. Additionally, the government's recent efforts to improve the country's economic stability and diversify its economy through investments in agriculture and tourism are expected to positively impact the cheese market in the future.

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.