Milk - Guyana | Statista Market Forecast

Milk - Guyana

Guyana

Highlights

Revenue in the Milk market amounts to US$11.78m in 2024. The market is expected to grow annually by 8.12% (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$14.37 are generated in 2024.
In the Milk market, volume is expected to amount to 27.26m kg by 2029. The Milk market is expected to show a volume growth of 4.6% in 2025.0.
The average volume per person in the Milk market is expected to amount to 26.6kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Milk Market in Guyana has seen minimal growth due to factors such as lack of technological advancement, low consumer health awareness, and limited availability of online services. Despite this, the market is slowly evolving, driven by the demand for dairy products in the country.

Customer preferences: The rise of health awareness and conscious consumption is driving a growing demand for organic and locally-sourced dairy products in Guyana. Consumers are also increasingly seeking plant-based alternatives to traditional dairy products, reflecting a shift towards more sustainable and ethical choices. Furthermore, with an aging population, there is a greater focus on functional dairy products that offer additional health benefits, such as probiotics and vitamins. This trend is also driven by the growing interest in preventive healthcare and self-care practices.

Trends in the market: In Guyana, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards plant-based milk alternatives, driven by health and environmental concerns. This trend is expected to continue, with an increasing number of consumers opting for dairy-free options. This has led to the introduction of new products such as almond, soy, and coconut milk in the market. This trend has significant implications for industry stakeholders, as it requires them to adapt their production methods and marketing strategies to cater to the changing preferences of consumers. It also presents new opportunities for collaboration with plant-based milk producers.

Local special circumstances: In Guyana, the Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's geographic location and cultural preferences. As a small country in South America, Guyana has a limited dairy industry, resulting in a high demand for imported milk products. Additionally, traditional Guyanese cuisine places a strong emphasis on dairy products such as milk and cheese, making them an integral part of the local diet. This, coupled with the government's strict regulations on food imports, creates a unique market dynamic for milk products in Guyana.

Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market in Guyana is greatly influenced by macroeconomic factors such as economic stability, trade policies, and consumer spending habits. With a growing economy and stable political environment, Guyana has seen an increase in domestic demand for dairy products, leading to growth in the Milk Market. In addition, favorable trade policies and increased investments in agriculture have further boosted the production and distribution of dairy products in the country. Moreover, the rising middle-class population and increasing disposable income have also contributed to the growth of the Milk Market in Guyana.

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.