Pet Food - Equatorial Guinea | Statista Market Forecast

Revenue in the Pet Food market amounts to US$18.28m in 2024. The market is expected to grow annually by 5.92% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$60bn in 2024).
In relation to total population figures, per person revenues of US$10.42 are generated in 2024.
In the Pet Food market, volume is expected to amount to 6.93m kg by 2029. The Pet Food market is expected to show a volume growth of 3.2% in 2025.0.
The average volume per person in the Pet Food market is expected to amount to 3.4kg in 2024.

Definition:

The Pet Food market covers food that has been specifically created to meet the nutritional requirements of domesticated animals, including dogs, cats, as well as feed products for other less common house pets such as rodents and reptiles. Various components that supply vital nutrients for the animal’s health and wellness are often included in pet food.

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.

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

Dog food
Cat food
Food for other house pets (rodents, reptiles, birds etc)

Feeds for farm animals
Pet supplement
Out-of-home consumption

The Pet Food Market in Equatorial Guinea has seen minimal growth due to various factors including low adoption of digital technologies, limited health awareness among consumers, and lack of convenience in online services. These factors have impacted the market's growth rate.

Customer preferences: With the growing awareness of animal welfare and sustainability, consumers in the Pet Food Market are increasingly preferring natural and organic pet food products. This trend is driven by a combination of cultural values and health consciousness among pet owners. In addition, there is a rising demand for customized and personalized pet food options, catering to specific dietary needs and preferences of pets. This shift towards more mindful and responsible pet food choices is expected to continue in the coming years.

Trends in the market: In Equatorial Guinea, the Pet Food Market is experiencing a shift towards more natural and organic products, with consumers becoming more conscious of the ingredients in their pet's food. This trend is also being seen globally, with an increase in demand for pet food that is free from artificial additives and preservatives. This trend is expected to continue, driven by the growing focus on pet health and wellness. As a result, industry stakeholders are investing in product innovation and marketing strategies to cater to this demand, which has the potential to drive growth in the Pet Food Market. Additionally, the rise of e-commerce and online shopping has made it easier for consumers to access a wider range of pet food options, further fueling the trend towards natural and organic products. This trend is expected to have a significant impact on the industry, as more consumers prioritize their pet's nutrition and well-being.

Local special circumstances: In Equatorial Guinea, the Pet Food Market is heavily influenced by the country's dependence on imports for its food supply. The limited domestic production and high import tariffs result in higher prices and limited product options for pet owners. Additionally, cultural beliefs and practices, such as the preference for traditional and natural food sources, can impact the demand for packaged pet food. The country's strict regulatory environment also poses challenges for foreign pet food companies attempting to enter the market.

Underlying macroeconomic factors: The performance of the Pet Food Market within The Food market in Equatorial Guinea is heavily influenced by macroeconomic factors such as the country's overall economic health, fiscal policies, and global economic trends. The stability of the country's economy and its regulatory environment have a significant impact on the growth and development of the pet food market. Additionally, the level of investment in the country's food and agriculture sector also plays a crucial role in the availability and affordability of pet food products. Furthermore, the increasing demand for pet food products in the country is also driven by the rising disposable income and the growing pet ownership rates, which are a result of the country's improving economic conditions.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.