Food - Papua New Guinea

Papua New Guinea

Revenue in the Food market amounts to US$6,196.00m in 2024. The market is expected to grow annually by 9.02% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$1,431.00m in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$589.20 are generated in 2024.
In the Food market, 1.6% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 4,743.00m kg by 2029. The Food market is expected to show a volume growth of 4.6% in 2025.
The average volume per person in the Food market is expected to amount to 372.50kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and 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. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Food market in Papua New Guinea has been experiencing minimal growth due to various factors such as limited access to technology and infrastructure, low consumer awareness of health benefits, and challenges in transportation and distribution. Despite these challenges, the market shows potential for growth in sub-sectors such as fresh produce and convenience food as consumers become more health-conscious and demand for convenient options increases. However, the market's growth rate is hindered by the high cost of imported goods and limited domestic production.

Customer preferences: Consumers in Papua New Guinea are increasingly seeking convenience and variety in their food choices, leading to a growing demand for ready-to-eat and pre-packaged meals. This trend is driven by the busy lifestyles of urban dwellers and the influence of Western food culture. Additionally, there is a growing interest in plant-based and healthier food options, reflecting a shift towards more sustainable and health-conscious choices. As access to technology and social media increases, consumers are also becoming more informed and interested in international food trends and flavors. This is reflected in the popularity of food delivery services and the emergence of food bloggers and influencers in the country.

Trends in the market: In Papua New Guinea, The Food market industry is experiencing a trend towards increased demand for locally sourced and organic products. This is driven by a growing awareness of health and environmental concerns among consumers. As a result, there has been a rise in small-scale farmers and producers entering the market, offering a wider variety of products. This trend is expected to continue, with potential implications for larger food companies who may need to adapt their sourcing and marketing strategies to meet changing consumer preferences. Additionally, this trend could also lead to increased competition and potential partnerships between smaller and larger players in the market.

Local special circumstances: In Papua New Guinea, The Food market is shaped by the country's rugged terrain and scattered population, with many communities living in remote areas. This has led to a reliance on local food sources and traditional methods of food preparation and preservation. Additionally, cultural preferences and dietary restrictions also play a significant role in the market, with many people adhering to traditional diets and avoiding certain foods. Government regulations on imported foods have also influenced the market, leading to a focus on locally-grown and produced goods. These factors contribute to a unique and diverse food market in Papua New Guinea.

Underlying macroeconomic factors: The Food market in Papua New Guinea is largely influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The country's economic health and stability play a crucial role in driving market growth and attracting investments. Additionally, changes in global economic conditions and trade policies can impact the availability and cost of food products in the market. Furthermore, government policies and regulations related to food production, distribution, and pricing can significantly impact market performance. The growing population and increasing demand for quality and affordable food products also drive the growth of The Food market in Papua New Guinea.

Methodology

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.