Food - Gabon

Gabon

Revenue in the Food market amounts to US$2,713.00m in 2024. The market is expected to grow annually by 5.61% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$500.20m in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$1,092.00 are generated in 2024.
In the Food market, 1.2% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 646.30m kg by 2029. The Food market is expected to show a volume growth of 3.4% in 2025.
The average volume per person in the Food market is expected to amount to 224.10kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Food market in Gabon has been experiencing minimal growth, influenced by factors such as limited consumer awareness and accessibility to digital technologies, as well as high import costs for various food products. However, the increasing demand for convenience food and the rising health consciousness among consumers are expected to drive future growth in the market. Additionally, the government's initiatives to promote domestic agricultural production and reduce reliance on imports could also have a positive impact on the market's growth rate.

Customer preferences: As the middle class continues to expand in Gabon, there has been a noticeable increase in demand for healthier and more sustainable food options. This trend is driven by a growing awareness of the impact of food choices on both personal health and the environment. As a result, there has been a surge in demand for organic and locally sourced products, as well as plant-based alternatives. This shift towards conscious consumption is also influenced by cultural preferences for fresh and nutritious meals, as well as a desire to support local farmers and businesses.

Trends in the market: In Gabon, The Food market is experiencing a shift towards healthier and more sustainable food options. This trend is driven by increasing consumer awareness and demand for organic and locally sourced products. Market players are responding by diversifying their offerings and incorporating eco-friendly packaging. This trend is expected to continue, with potential implications for industry stakeholders such as increased competition and the need for innovation. Additionally, there is a growing interest in online food delivery services, providing convenience and contactless options for consumers. This trend is likely to shape the future of the market, with potential implications for traditional brick-and-mortar food retailers.

Local special circumstances: In Gabon, The Food market is heavily influenced by its unique geographical and cultural factors. The country's rich and diverse landscape, with a mix of coastal, rainforest, and savannah regions, provides a variety of local produce and traditional cuisines. Additionally, Gabon's population is made up of multiple ethnic groups, each with their own distinct culinary traditions. This diversity is reflected in the local food market, with a wide range of products and dishes available. Furthermore, government regulations on food imports have also played a role in shaping the market, with a focus on promoting locally sourced and sustainable food options. These factors contribute to the dynamic and constantly evolving nature of Gabon's Food Market.

Underlying macroeconomic factors: The Food market market in Gabon is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. As a small and open economy, Gabon is highly dependent on global market conditions and is vulnerable to fluctuations in commodity prices and international trade. National economic health, including inflation rates, interest rates, and exchange rates, also plays a crucial role in shaping the performance of The Food market market. Additionally, fiscal policies, such as taxation and government spending, can impact the purchasing power of consumers and the overall demand for food products in the country. Therefore, it is essential to closely monitor these macroeconomic factors to understand the market dynamics and make informed business decisions in The Food market market in Gabon.

Methodology

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.