Milk - Zimbabwe | Statista Market Forecast

Milk - Zimbabwe

Zimbabwe

Highlights

Revenue in the Milk market amounts to US$195.60m in 2024. The market is expected to grow annually by 10.90% (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$11.49 are generated in 2024.
In the Milk market, volume is expected to amount to 203.80m kg by 2029. The Milk market is expected to show a volume growth of 3.8% in 2025.0.
The average volume per person in the Milk market is expected to amount to 10.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Milk Market in Zimbabwe is currently experiencing subdued growth due to factors such as limited access to technology and low levels of health awareness among consumers. Despite this, the convenience of online services and increasing demand for dairy products are driving market growth.

Customer preferences: There has been a noticeable shift in consumer preferences towards organic and locally-sourced milk in the Milk Market of the Dairy Products & Eggs Market within The Food market market in Zimbabwe. This trend is driven by a growing awareness of the benefits of organic products and a desire for supporting local farmers. Additionally, there is a rising demand for dairy alternatives such as plant-based milks, reflecting evolving dietary choices and lifestyle factors among consumers.

Trends in the market: In Zimbabwe, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for organic and locally-sourced milk products. This trend is driven by consumers' growing awareness of the health benefits and sustainability of such products. As a result, dairy farmers are shifting towards more sustainable and ethical farming practices, while retailers are expanding their offerings to cater to this demand. This trend is expected to continue, presenting opportunities for industry stakeholders to tap into the growing market for organic and locally-sourced milk products.

Local special circumstances: In Zimbabwe, the Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's unique economic and political circumstances. The country's ongoing cash crisis and government policies have led to a rise in informal dairy production and distribution, impacting the market dynamics. Additionally, the country's climatic conditions and limited infrastructure also play a role in shaping the local milk market, with small-scale producers and traditional methods being prevalent.

Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market in Zimbabwe is heavily impacted by macroeconomic factors such as economic stability, government policies, and consumer purchasing power. The country has been facing economic challenges such as high inflation rates, currency fluctuations, and foreign investment restrictions, which have all affected the market's growth. Additionally, the decline in international milk prices and the high cost of production due to limited access to resources and technology have also hindered market growth. However, the increasing demand for dairy products and eggs in the country's growing population presents opportunities for market expansion. Moreover, efforts by the government to revive the dairy industry through investments in infrastructure and policies to support smallholder farmers are likely to positively impact market performance.

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.