Key regions: Japan, India, China, United Kingdom, South Korea
The Snack Food Market in Ethiopia's Confectionery & Snacks Market has been seeing moderate growth, impacted by factors such as changing consumer preferences and increasing competition. The subdued growth rate can be attributed to challenges faced by sub-markets such as Tortilla Chips and Cookies & Crackers in terms of availability and affordability. However, the overall market is expected to see a gradual increase due to the rising demand for convenient and affordable snack options.
Customer preferences: In Ethiopia, there has been a noticeable shift in consumer preferences towards healthier snack options, driven by an increasing awareness of the negative health impact of traditional high-sugar and high-fat snacks. This has led to a rise in demand for healthier alternatives such as dried fruits, nuts, and seeds. Moreover, there has been a growing interest in locally sourced and organic snacks, as consumers become more conscious of the environmental and social impact of their food choices. This trend is also influenced by the growing millennial and Gen Z population, who tend to prioritize sustainability and ethical consumption.
Trends in the market: In Ethiopia, the Snack Food Market of the Confectionery & Snacks Market within The Food market has been witnessing a rise in demand for healthier snack options, such as plant-based and gluten-free snacks. This trend is driven by the increasing health consciousness among consumers and the growing availability of these products in the market. This trajectory is significant as it presents opportunities for industry stakeholders to tap into the health-conscious segment of the market and diversify their product offerings. It also has the potential to drive innovation and competition in the market, ultimately benefiting consumers. However, it may also pose challenges for traditional snack companies that may need to adapt their products and strategies to cater to this trend.
Local special circumstances: In Ethiopia, the Snack Food Market of the Confectionery & Snacks Market within The Food market is heavily influenced by the country's diverse cultural heritage and local tastes. For instance, the consumption of traditional snacks, such as injera and dabo kolo, remains popular among the local population. Additionally, the country's rapid urbanization and increasing disposable income are driving the demand for convenience and ready-to-eat snacks, leading to the growth of modern retail outlets and the adoption of Western-style snacking habits. Furthermore, the government's initiatives to promote agriculture and food processing industries are also supporting the local production and availability of snacks, creating a unique market landscape in Ethiopia.
Underlying macroeconomic factors: The Snack Food Market of the Confectionery & Snacks Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending power, economic stability, and government policies. In Ethiopia, the market is expected to experience steady growth due to the country's stable economic conditions and increasing disposable income. Moreover, the government's focus on promoting small and medium-scale enterprises and improving the business environment is creating favorable conditions for the growth of the snack food market. Additionally, the increasing urbanization and changing dietary habits of the population are also contributing to the demand for convenient and affordable snack options, further driving the growth of the market.
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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