Confectionery & Snacks - Zimbabwe

Zimbabwe

Highlights

Revenue in the Confectionery & Snacks market amounts to US$551.20m in 2024. The market is expected to grow annually by 6.58% (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$32.38 are generated in 2024.
In the Confectionery & Snacks market, volume is expected to amount to 154.40m kg by 2029. The Confectionery & Snacks market is expected to show a volume growth of 2.3% in 2025.0.
The average volume per person in the Confectionery & Snacks market is expected to amount to 8.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Confectionery & Snacks Market in Zimbabwe is experiencing minimal growth, impacted by factors such as low disposable income, increasing health consciousness, and competition from informal markets. Despite this, the market is expected to see gradual growth due to the rising demand for healthy and indulgent snack options.

Customer preferences: As Zimbabwe's economy continues to recover, consumers are showing a growing interest in indulgent confectionery and snack options. However, there is also a rising demand for healthier, natural alternatives as health and wellness trends gain traction. This is driven by a growing awareness of the impact of diet on overall well-being and a desire for more sustainable and ethically sourced products. As a result, there has been a surge in the popularity of organic and plant-based snacks, as well as a shift towards more transparent and ethical sourcing practices in the confectionery industry.

Trends in the market: In Zimbabwe, the Confectionery & Snacks Market within The Food market is seeing a trend towards healthier options, with more consumers demanding natural and organic ingredients. This trend is driven by a growing awareness of the health benefits of these products and a desire for transparency in the food industry. Industry stakeholders are responding by introducing new healthier options and reformulating existing products to meet consumer demands. This trend is expected to continue and could potentially lead to a shift in consumer preferences and purchasing patterns. Additionally, there is a rise in the popularity of international confectionery and snack brands, as consumers seek out new and unique flavors. This trend has the potential to open up opportunities for foreign businesses to enter the market and compete with local players.

Local special circumstances: In Zimbabwe, the Confectionery & Snacks Market within The Food market is heavily influenced by the country's economic and political climate. The ongoing economic crisis has resulted in high inflation and currency instability, impacting consumer purchasing power and pricing strategies for businesses. Additionally, the country's cultural preferences for sweet and savory snacks, combined with its diverse agricultural sector, have led to a unique range of local snack options. These factors contribute to the dynamic landscape of the confectionery and snacks market in Zimbabwe.

Underlying macroeconomic factors: The Confectionery & Snacks Market within The Food market in Zimbabwe is heavily influenced by macroeconomic factors such as the country's economic stability, inflation rates, and government policies. The global economic trends also play a crucial role, as they impact the availability and cost of raw materials for production. Additionally, the national economic health, including factors like GDP growth and consumer spending, can affect the demand for confectionery and snacks. Fiscal policies, such as taxes and subsidies, can also impact market performance by affecting production costs and consumer purchasing power. Other relevant financial indicators, such as exchange rates and interest rates, can also impact the market by influencing import and export costs and consumer spending. Overall, the performance of the Confectionery & Snacks Market in Zimbabwe is closely tied to the country's economic conditions and global economic trends.

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.