Yogurt - Equatorial Guinea | Statista Market Forecast

Revenue in the Yogurt market amounts to US$4.45m in 2024. The market is expected to grow annually by 7.73% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$46bn in 2024).
In relation to total population figures, per person revenues of US$2.54 are generated in 2024.
In the Yogurt market, volume is expected to amount to 1.91m kg by 2029. The Yogurt market is expected to show a volume growth of 4.9% in 2025.0.
The average volume per person in the Yogurt market is expected to amount to 0.9kg in 2024.

Definition:

The Yogurt market covers products that are created by allowing bacteria to convert lactose found in milk into lactic acid resulting in a thickened, sour-tasting dairy product.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

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Natural/plain yogurt
Flavored yogurt (e.g. Vanilla yogurt, fruit-flavored yogurt)
Greek yogurt
Whole milk yogurt, low-fat yogurt, non-fat yogurt
Probiotic yogurt, lactose-free yogurt

Milk
Cream cheese
Cheese
Curdled milk
Butter milk
Yogurt drinks
Out-of-home consumption

The Yogurt Market in Equatorial Guinea is experiencing minimal growth, influenced by factors such as low consumer health awareness and limited access to digital technologies. Despite these challenges, the convenience of online health services is driving growth in the Dairy Products & Eggs Market within The Food market, with a focus on expanding the availability of these products in the region.

Customer preferences: The growing popularity of plant-based diets and the rise of health-conscious consumers have led to a shift towards dairy-free and low-sugar yogurt options. This trend is further driven by the increasing number of lactose-intolerant individuals and those with dairy allergies. As a result, companies are innovating and introducing new dairy-free yogurt alternatives, made from plant-based ingredients such as almond, coconut, and soy milk. This shift towards dairy-free yogurt is also influenced by the cultural preference for vegetarian and vegan diets in Equatorial Guinea.

Trends in the market: In Equatorial Guinea, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards healthier and more diverse yogurt options. This trend is driven by consumer demand for natural and organic products, as well as a growing interest in plant-based alternatives. Additionally, there is a rising awareness of the health benefits of yogurt, such as its probiotic properties. Industry stakeholders should take note of this trend and capitalize on the growing demand for healthier yogurt options. This could include expanding their product lines to include more plant-based and organic options, as well as investing in marketing and education campaigns to promote the health benefits of yogurt. Failure to adapt to these trends could result in loss of market share to competitors who are able to meet the changing consumer preferences.

Local special circumstances: In Equatorial Guinea, the Yogurt market has seen growth due to the country's tropical climate and cultural preference for dairy products. This has led to a high demand for locally sourced yogurt, creating opportunities for small-scale producers. However, strict import regulations have limited the availability of international yogurt brands. Additionally, the country's limited transportation infrastructure makes it difficult to distribute yogurt to remote areas, emphasizing the importance of local production and distribution networks.

Underlying macroeconomic factors: The Yogurt Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending power, population demographics, and changing dietary habits. In Equatorial Guinea, for example, the yogurt market is experiencing growth due to increasing urbanization and rising disposable incomes. On a global scale, the growing trend towards healthier eating habits and the rising demand for dairy alternatives are also driving the growth of the yogurt market. Additionally, government initiatives promoting dairy consumption and investments in dairy production are supporting market growth in many countries.

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.