Cheese - Guyana | Statista Market Forecast

Cheese - Guyana

Guyana

Highlights

Revenue in the Cheese market amounts to US$788.30k in 2024. The market is expected to grow annually by 6.50% (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$0.96 are generated in 2024.
In the Cheese market, volume is expected to amount to 231.50k kg by 2029. The Cheese market is expected to show a volume growth of 2.7% in 2025.0.
The average volume per person in the Cheese market is expected to amount to 0.3kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Cheese Market in Guyana is experiencing minimal growth due to various factors such as lack of consumer awareness, limited access to digital technologies, and traditional food preferences. This has hindered the industry's growth rate, but efforts are being made to increase adoption of digital solutions and promote healthy eating habits among consumers.

Customer preferences: Consumers are increasingly opting for artisanal and locally sourced cheese products, as they become more health-conscious and environmentally aware. This trend is also influenced by the rising popularity of plant-based diets, leading to a growing demand for dairy-free and vegan cheese alternatives. Additionally, there is a growing preference for specialty and exotic cheese varieties, as consumers seek new and unique flavors to enhance their culinary experiences.

Trends in the market: In Guyana, the Cheese Market of the Dairy Products & Eggs Market within The Food market is experiencing a growth in demand for locally produced cheese and dairy products due to an increasing focus on supporting domestic industries. Additionally, there is a rising trend of incorporating cheese into traditional Guyanese dishes, further driving the market growth. This trend is significant as it promotes local economic development and sustainability. Industry stakeholders can take advantage of this trend by investing in local production and marketing of cheese products, potentially leading to increased profits and market share.

Local special circumstances: In Guyana, the Cheese Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's tropical climate and cultural preferences. The hot and humid weather makes it challenging to produce and store certain types of cheese, leading to a focus on fresh and locally made varieties. Additionally, the cultural significance of dairy products, particularly cheese, in Guyanese cuisine drives demand for specialty and artisanal cheeses. The regulatory environment also plays a role, with strict import restrictions promoting the use of domestic dairy products.

Underlying macroeconomic factors: The Cheese Market of the Dairy Products & Eggs Market within The Food market in Guyana is greatly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. As a developing country, Guyana's economy is largely influenced by global factors such as changes in commodity prices, foreign trade policies, and foreign investment. In recent years, the country has experienced stable economic growth due to increased production in key sectors such as agriculture, mining, and services. This has resulted in a growing middle class with higher disposable incomes, leading to increased demand for dairy products such as cheese. However, fiscal policies such as import tariffs and subsidies can also greatly affect the cost and availability of dairy products in the market. Moreover, the country's overall economic health, including factors such as inflation and unemployment rates, can also impact consumer purchasing power and, subsequently, the demand for cheese in the 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.