Key regions: Philippines, South Korea, Canada, Japan, China
The Confectionery & Snacks market in Mauritius is facing subdued growth due to changing consumer preferences, increasing health consciousness, and growing competition from healthier snack options. However, the market is still expected to experience moderate growth, driven by the convenience and indulgence factors of these products. Additionally, the growing tourism industry in Mauritius is also expected to contribute to the market's growth.
Customer preferences: With the rise of health consciousness and the growing demand for nutritious snacks, there has been a noticeable shift towards healthier options in the Confectionery & Snacks Market in Mauritius. This trend is driven by changing lifestyles, with more people opting for on-the-go, convenient snacking options that are also nutritious. Additionally, there is a growing preference for plant-based and organic snacks, as consumers become more environmentally conscious and seek healthier alternatives to traditional confectionery items.
Trends in the market: In Mauritius, the Confectionery & Snacks Market within The Food market is seeing a rise in health-conscious options, with a growing demand for organic and natural snacks. This trend is driven by consumers' increasing awareness of the importance of healthy eating and the negative effects of processed foods. As a result, major players in the market are investing in new product developments and marketing strategies to cater to this trend. This shift towards healthier snacking options has the potential to impact traditional snack manufacturers and retailers, as they may need to adapt their offerings to remain competitive. Furthermore, with the rise of e-commerce and online shopping, there is also a growing trend of purchasing snacks and confectionery products online, providing more opportunities for industry players to reach a wider consumer base.
Local special circumstances: In Mauritius, the Confectionery & Snacks Market within The Food market is heavily influenced by the country's diverse cultural influences. The market is dominated by traditional Mauritian snacks and sweets, such as gateaux piments and gâteau coco, which reflect the country's French, Indian, and Chinese heritage. Additionally, regulations on imported goods and local production quotas have created a unique market for locally made snacks and confectionery. These factors contribute to a market that is distinctly different from other countries in the region, with a strong emphasis on traditional and locally sourced products.
Underlying macroeconomic factors: The Confectionery & Snacks Market within The Food market in Mauritius is affected by various macroeconomic factors, including global economic trends, national economic health, fiscal policies, and relevant financial indicators. The country's stable economic growth and favorable business environment have attracted investment and contributed to the growth of the confectionery & snacks market. Moreover, the increasing disposable income and changing consumer lifestyles have led to a rise in demand for these products. However, fluctuations in global commodity prices and currency exchange rates can impact the market's performance, as most ingredients for confectionery & snacks are imported. Additionally, government regulations and policies related to food safety and labeling can also influence market dynamics.
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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