Milk Substitutes - Gambia

Gambia

Highlights

Revenue in the Milk Substitutes market amounts to US$285.40k in 2024. The market is expected to grow annually by 24.10% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$10bn in 2024).
In relation to total population figures, per person revenues of US$0.10 are generated in 2024.
In the Milk Substitutes market, volume is expected to amount to 151.40k kg by 2029. The Milk Substitutes market is expected to show a volume growth of 26.6% in 2025.0.
The average volume per person in the Milk Substitutes market is expected to amount to 0.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Milk Substitutes market in Gambia is experiencing substantial growth due to factors such as increasing health consciousness, convenience of online services, and adoption of digital technologies. This growth is impacted by rising demand for alternative dairy products and changing dietary preferences.

Customer preferences: As more consumers in Gambia prioritize health and wellness, there has been a noticeable increase in demand for plant-based milk substitutes. This trend is linked to the growing awareness of lactose intolerance and the environmental impact of dairy production. In addition, the rise of veganism and flexitarian diets has contributed to the popularity of milk alternatives, as consumers seek out more sustainable and ethical food options. This shift towards plant-based milk substitutes reflects a broader shift towards healthier and more environmentally-conscious consumption patterns.

Trends in the market: In Gambia, the Milk Substitutes Market within the Dairy Products & Eggs Market is experiencing a shift towards plant-based alternatives as consumers become more health-conscious and environmentally aware. This trend is expected to continue, driven by the rise of veganism and the availability of a wide range of dairy-free options. Industry stakeholders should anticipate investing in R&D for innovative plant-based products and expanding their distribution channels to capitalize on the growing demand for milk substitutes in Gambia. Additionally, partnerships with local producers and suppliers could present new opportunities for market growth.

Local special circumstances: In Gambia, the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is influenced by the country's small and scattered population, limited infrastructure, and high import costs. This creates challenges for the distribution of milk substitutes and drives up the prices for consumers. Additionally, cultural preferences for fresh and local dairy products pose a barrier to the growth of milk substitutes. The government's efforts to promote local dairy production also impact the market dynamics.

Underlying macroeconomic factors: The Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market in Gambia is heavily influenced by macroeconomic factors such as consumer spending power, economic growth, and government policies. The country's economic stability and GDP growth rate have a significant impact on the demand for milk substitutes, as consumers tend to opt for more affordable alternatives during times of economic downturn. Additionally, government policies that promote the consumption of healthy and sustainable food products, along with increasing health consciousness among consumers, are driving the growth of milk substitutes in Gambia. Furthermore, global trends towards plant-based diets and the rise of veganism are also contributing to the market's growth in the country.

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.