Key regions: Spain, China, Canada, India, South Korea
The Rice Market in Gambia has seen subdued growth due to factors such as limited access to technology, low health awareness, and lack of convenient online services. Despite this, the market is steadily growing as consumers become more health-conscious and demand for digital solutions increases.
Customer preferences: As the population in Gambia continues to grow and urbanize, there is a noticeable increase in demand for convenience and ready-to-eat food options, leading to a rise in sales of packaged rice products. Additionally, with an emphasis on local and sustainable sourcing, there is growing interest in traditional Gambian rice varieties, providing opportunities for small-scale farmers and promoting cultural heritage. This trend is further driven by the increasing health consciousness of consumers, who are opting for healthier and more natural food options.
Trends in the market: In Gambia, the Rice Market within the Bread & Cereal Products Market has been experiencing a shift towards more sustainable and locally sourced rice options. This trend is driven by rising consumer demand for healthier and eco-friendly food choices. As a result, major players in the industry are investing in organic and domestically produced rice to cater to this growing demand. This trajectory is expected to continue, with potential implications for suppliers and distributors to adapt and diversify their product offerings to meet changing consumer preferences.
Local special circumstances: In Gambia, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's geography and climate. The majority of rice production takes place in the low-lying areas along the rivers, making irrigation essential. Additionally, cultural factors play a significant role in the use of rice as a staple food, with rice dishes being central to traditional celebrations and ceremonies. The government's policies, such as import bans and subsidies, also impact the dynamics of the market. These unique local factors shape the supply and demand of rice in Gambia, making it stand out from other markets in the region.
Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Gambia is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The country's dependence on agriculture and rice production, along with its vulnerability to climate change, plays a significant role in market performance. Additionally, government initiatives and investments in the agriculture sector, as well as trade policies and foreign investments, also impact the rice market. The rising demand for rice, both domestically and internationally, due to population growth and changing dietary habits, further drives market growth. However, challenges such as low productivity, inadequate infrastructure, and limited access to finance hinder the market's potential.
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.
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