Food - Gambia

Gambia

Revenue in the Food market amounts to US$954.40m in 2024. The market is expected to grow annually by 9.01% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$176.30m 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$335.90 are generated in 2024.
In the Food market, 2.2% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 354.70m kg by 2029. The Food market is expected to show a volume growth of 5.0% in 2025.
The average volume per person in the Food market is expected to amount to 103.80kg 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 Gambia has seen moderate growth due to factors such as limited access to technology, low health awareness, and a reliance on traditional food sources. Subdued growth is also impacted by challenges in the sub-markets of Dairy Products & Eggs, Meat, Fish & Seafood, and Fruits & Nuts, which face issues such as poor infrastructure and limited export opportunities. However, efforts are being made to improve the market, with a focus on promoting local production and increasing consumer education on the benefits of a diverse and nutritious diet.

Customer preferences: Consumers in Gambia are becoming more health-conscious and are actively seeking out healthier food options. This trend is driven by a growing awareness of the impact of diet on overall well-being. As a result, there has been an increase in demand for organic and locally-sourced products. Additionally, there is a growing trend towards plant-based diets, with more individuals opting for meat alternatives and incorporating more fruits and vegetables into their meals. This shift towards healthier eating habits is also influenced by the rise of social media and the promotion of clean eating and wellness trends.

Trends in the market: In Gambia, The Food market is experiencing a surge in online food delivery services, with more restaurants and grocery stores offering delivery options to cater to the increasing demand for convenience. Additionally, there is a growing trend of using mobile apps to order and pay for food, allowing customers to easily access a variety of food options and track their orders in real-time. These trends are significant as they improve accessibility and convenience for customers and potentially increase sales for businesses. However, they may also pose challenges for smaller businesses who may struggle to compete with larger chains and may need to invest in technology to stay relevant.

Local special circumstances: In Gambia, The Food market is heavily influenced by the country's geography and cultural traditions. Due to its location on the Atlantic coast, Gambia has access to a wide variety of fresh seafood, which is a staple in the local cuisine. Additionally, the strong Muslim influence in the country means that pork is not widely consumed, leading to a higher demand for other protein sources such as chicken and beef. The regulatory environment in Gambia also plays a role, with strict import regulations creating a preference for locally grown produce. These unique factors contribute to the dynamics of The Food market in Gambia, making it distinct from other markets.

Underlying macroeconomic factors: The Food market market in Gambia is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. The country's small economy and heavy reliance on agriculture make it vulnerable to fluctuations in commodity prices and global economic conditions. Additionally, government policies and regulations can impact market performance, particularly in terms of trade and investment. The rising prevalence of chronic diseases and the increasing demand for affordable and nutritious food options also play a significant role in shaping The Food market in Gambia.

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.