Milk - Guatemala | Statista Market Forecast

Milk - Guatemala

Guatemala

Highlights

Revenue in the Milk market amounts to US$1.15bn in 2024. The market is expected to grow annually by 8.16% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$71bn in 2024).
In relation to total population figures, per person revenues of US$62.81 are generated in 2024.
In the Milk market, volume is expected to amount to 727.80m kg by 2029. The Milk market is expected to show a volume growth of 2.4% in 2025.0.
The average volume per person in the Milk market is expected to amount to 32.3kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Milk Market in Guatemala is experiencing minimal growth, influenced by factors such as low dairy consumption rates and competition from other beverages. Despite this, The Food market in Guatemala shows steady growth due to increasing demand for convenient and healthy dairy products.

Customer preferences: Consumers in Guatemala are increasingly looking for healthier and more sustainable dairy products, leading to a rise in demand for organic and plant-based milk alternatives. This shift is driven by the growing awareness of the negative impacts of conventional dairy farming on the environment and animal welfare. Additionally, there is a trend towards purchasing locally sourced and artisanal dairy products, as consumers prioritize supporting small-scale and traditional producers. This reflects a cultural appreciation for traditional ingredients and production methods in the country.

Trends in the market: In Guatemala, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards organic and locally sourced milk products. This trend is driven by consumer demand for healthier and more sustainable options, as well as government initiatives promoting domestic production. As a result, industry stakeholders are investing in sustainable farming practices and expanding their product offerings to cater to this demand. This trend is expected to continue, with potential implications for the market including increased competition and the need for innovation in product development and marketing strategies.

Local special circumstances: In Guatemala, the Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's landscape, which includes a wide range of climates and altitudes. This diversity in geographical conditions makes it challenging for dairy farmers to produce and distribute milk consistently. Additionally, the traditional Maya culture in Guatemala places a strong emphasis on consuming dairy products, leading to a high demand for milk in local markets. Lastly, the government has implemented regulations that support local dairy production, creating a favorable environment for the growth of the Milk Market.

Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market in Guatemala is also impacted by macroeconomic factors such as consumer purchasing power, government regulations, and trade agreements. The country's economic stability and growth have a direct influence on the production, import, and export of dairy products, as well as consumer demand and spending. Furthermore, changes in fiscal policies, such as tax rates and subsidies, can significantly affect the profitability and competitiveness of local dairy farmers and manufacturers. Additionally, global economic trends, such as fluctuations in commodity prices and currency exchange rates, can also impact the overall performance of the milk market in Guatemala.

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.