Ready-to-Eat Meals - Togo

Togo

Highlights

Revenue in the Ready-to-Eat Meals market amounts to US$110.60m in 2024. The market is expected to grow annually by 6.15% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$149bn in 2024).
In relation to total population figures, per person revenues of US$11.94 are generated in 2024.
In the Ready-to-Eat Meals market, volume is expected to amount to 38.77m kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 4.7% in 2025.0.
The average volume per person in the Ready-to-Eat Meals market is expected to amount to 3.4kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Ready-to-Eat Meals Market in Togo has shown minimal growth, influenced by factors such as consumers' increasing reliance on convenient food options and rising health awareness. This has driven the Convenience Food Market's growth within the overall Food Market in Togo.

Customer preferences: The growing demand for convenience in the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market has led to a rise in the popularity of meal delivery services and subscription-based meal kits. This trend is driven by busy lifestyles and the desire for hassle-free meal solutions. Additionally, there is a growing preference for healthier, organic, and sustainably sourced ingredients among consumers in Togo, reflecting a shift towards mindful and conscious consumption.

Trends in the market: In Togo, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is experiencing a shift towards healthier options, with a focus on natural and organic ingredients. This trend is driven by increasing consumer awareness of health and wellness, as well as a growing demand for convenient yet nutritious meal options. As a result, industry stakeholders are investing in product innovation and marketing strategies to cater to this trend. This trajectory is expected to continue, with potential implications such as increased competition and the need for transparency in ingredient sourcing and production processes.

Local special circumstances: In Togo, the Ready-to-Eat Meals Market within the Convenience Food Market is heavily influenced by the country's tropical climate and its impact on food preservation. The market is also shaped by cultural preferences for fresh, locally-sourced ingredients, leading to a higher demand for freshly-made meals rather than packaged options. Additionally, government regulations on food imports and labeling play a significant role in shaping the market, as Togo aims to promote locally-produced food products.

Underlying macroeconomic factors: The growth of the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is also influenced by macroeconomic factors such as changing consumer lifestyles, rising disposable incomes, and urbanization. As more people lead busy lives and have less time to cook, the demand for convenient and ready-to-eat meals is on the rise. Additionally, as Togo experiences economic growth and improves its national economic health, consumers are more willing to spend on convenience foods. Furthermore, favorable fiscal policies and investments in the food industry are also driving the growth of the market. However, challenges such as high tariffs on imported food products and limited access to financing for small and medium food businesses may hinder market growth.

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.