Bread - Gambia | Statista Market Forecast

Bread - Gambia

Gambia

Highlights

Revenue in the Bread market amounts to US$18.81m in 2024. The market is expected to grow annually by 9.66% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$80bn in 2024).
In relation to total population figures, per person revenues of US$6.62 are generated in 2024.
In the Bread market, volume is expected to amount to 15.51m kg by 2029. The Bread market is expected to show a volume growth of 6.7% in 2025.0.
The average volume per person in the Bread market is expected to amount to 4.4kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The bread market in Gambia is witnessing subdued growth due to various factors such as low disposable income, limited access to technology, and traditional eating habits. Despite the convenience and health benefits offered by bread, the market growth is impacted by these challenges.

Customer preferences: Consumers in Gambia are increasingly turning to locally sourced and organic bread options, driven by a growing interest in sustainable and healthy food choices. This trend is also fueled by a desire to support local businesses and promote traditional methods of bread making. Additionally, with the rise of health-consciousness, there has been a demand for gluten-free and low-carb bread options, catering to specific dietary needs and preferences. This shift towards healthier and more conscious consumption aligns with the overall global trend towards a more sustainable and mindful approach to food.

Trends in the market: In Gambia, the Bread Market of the Bread & Cereal Products Market within The Food market is experiencing a shift towards healthier options, with an increase in demand for whole grain and gluten-free bread. Additionally, there is a growing trend of artisanal and locally-sourced bread, catering to consumers' preference for natural and sustainable products. These trends indicate a shift towards more conscious and informed consumption, presenting opportunities for industry stakeholders to innovate and differentiate their products. However, it also poses challenges in terms of production costs and supply chain management.

Local special circumstances: In Gambia, the Bread Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's geographical location and cultural preferences. As a small West African nation, Gambia relies heavily on imported wheat for bread production, leading to fluctuating prices and availability. Additionally, the local preference for traditional, handcrafted bread over mass-produced options has created a unique market dynamic, with small-scale bakeries dominating the market. Government regulations also play a role, as strict food safety standards and import restrictions can affect the supply chain and production processes. These factors create a distinct market landscape in Gambia's Bread Market, setting it apart from other markets in the region.

Underlying macroeconomic factors: The Bread Market of the Bread & Cereal Products Market within The Food market in Gambia is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. The stability of the Gambian economy and its fiscal policies play a significant role in determining the market performance of bread and cereal products. Additionally, fluctuations in global food prices and the country's import and export policies also impact the market. Moreover, the Gambia's growing population and increasing urbanization are driving the demand for bread and cereal products, while rising disposable income levels are enabling consumers to spend more on convenience foods.

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.