Confectionery & Snacks - Togo

Togo

Highlights

Revenue in the Confectionery & Snacks market amounts to US$264.00m in 2024. The market is expected to grow annually by 6.44% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$135bn in 2024).
In relation to total population figures, per person revenues of US$28.51 are generated in 2024.
In the Confectionery & Snacks market, volume is expected to amount to 65.40m kg by 2029. The Confectionery & Snacks market is expected to show a volume growth of 4.5% in 2025.0.
The average volume per person in the Confectionery & Snacks market is expected to amount to 5.8kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Confectionery & Snacks Market in Togo is experiencing minimal growth, influenced by factors such as increasing competition from other food sub-markets, changing consumer preferences, and economic constraints. Despite this, the convenience and indulgence offered by these products continue to drive demand, especially among the younger population. The market's slow growth rate also reflects the country's current economic situation and limited disposable income, limiting spending on non-essential items like confectionery and snacks. However, as the economy improves and consumer spending power increases, the market is expected to see a gradual increase in growth.

Customer preferences: Consumers in Togo are increasingly seeking healthier snacking options, leading to a rise in demand for organic and natural snacks. This trend is driven by a growing awareness of the benefits of a healthy diet and a desire for more sustainable and ethically-sourced products. Additionally, there is a shift towards on-the-go snacking as busy lifestyles and urbanization continue to shape consumer behavior. As a result, companies are investing in innovative packaging and marketing strategies to cater to these changing preferences.

Trends in the market: In Togo, there is a noticeable shift in consumer preference towards healthier and more nutritious snack and confectionery options. This trend is driven by rising health awareness and concerns over obesity and other diet-related health issues. As a result, there is a growing demand for natural and organic snacks, as well as products with reduced sugar and fat content. This trajectory is significant as it presents opportunities for industry players to tap into a new and growing market segment. However, it may also pose challenges for traditional snack and confectionery companies who may need to adapt their product offerings to meet changing consumer preferences. Additionally, there is potential for partnerships and collaborations between health-focused companies and snack/confectionery brands to develop and market healthier options.

Local special circumstances: In Togo, the Confectionery & Snacks Market within The Food market is heavily influenced by the country's geographic and cultural factors. Due to its tropical climate, Togo produces a variety of fruits and nuts which are used in local confectionery and snack products. Additionally, the country's diverse cultural influences, including French, German, and African, contribute to a unique flavor profile in its snacks and confectionery. Regulatory circumstances, such as import restrictions on certain ingredients, also impact the market dynamics and availability of products.

Underlying macroeconomic factors: The Confectionery & Snacks Market within The Food market in Togo is greatly impacted by macroeconomic factors such as economic stability, consumer purchasing power, and government policies. As an emerging market, Togo's economic growth and stability have a direct influence on the performance of the Confectionery & Snacks Market. Favorable economic conditions, such as low inflation rates and increasing GDP, can lead to an increase in consumer spending and drive market growth. Furthermore, government initiatives to promote local industries and encourage foreign investments can also impact the market by creating a more conducive business environment. However, challenges such as high poverty rates and limited access to credit can hinder market growth and pose a barrier to entry for new players.

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.