Meat Substitutes - Gabon

Gabon

Highlights

Revenue in the Meat Substitutes market amounts to US$1.22m in 2024. The market is expected to grow annually by 13.76% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$2bn in 2024).
In relation to total population figures, per person revenues of US$0.49 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 122.10k kg by 2029. The Meat Substitutes market is expected to show a volume growth of 15.3% in 2025.0.
The average volume per person in the Meat Substitutes market is expected to amount to 0.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Meat Substitutes market in Gabon is experiencing average growth, driven by factors such as increasing consumer health awareness and the convenience of alternative meat options. This growth is impacted by the expanding Food market in Gabon and its adoption of digital technologies.

Customer preferences: As consumers become more health-conscious, demand for plant-based meat substitutes is on the rise. This trend is driven by the desire for healthier, more sustainable food options, as well as growing concerns over the environmental impact of the meat industry. Additionally, the popularity of vegetarian and vegan diets, influenced by cultural and ethical considerations, is fueling the growth of the meat substitutes market.

Trends in the market: In Gabon, there is a growing demand for meat substitutes as consumers become more health-conscious and environmentally aware. This trend is driven by factors such as rising obesity rates and concerns over the sustainability of traditional meat production. As a result, there has been an increase in the availability and variety of meat substitutes, with plant-based options becoming more popular. This trend is expected to continue, with the potential to disrupt the traditional meat market and create new opportunities for industry stakeholders in the food and agriculture sectors.

Local special circumstances: In Gabon, the Meat Substitutes Market of the Meat Market within The Food market is influenced by the country's high consumption of meat and the growing trend towards plant-based diets. The government's efforts to promote sustainable and healthy food choices have also contributed to the increasing demand for meat substitutes. Additionally, Gabon's rich biodiversity and diverse cultural influences have led to the development of unique and flavorful plant-based alternatives, catering to local taste preferences. This has resulted in a dynamic and evolving market, with a wide range of innovative and locally-sourced meat substitutes gaining popularity among health-conscious and environmentally-aware consumers.

Underlying macroeconomic factors: The Meat Substitutes Market of the Meat Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The market performance is dependent on the overall economic stability of the country, as well as its trade policies and consumer spending patterns. Countries with strong economic growth and favorable fiscal policies are likely to experience higher demand for meat substitutes, as consumers become more health-conscious and environmentally aware. In contrast, countries with economic challenges and weak consumer spending may see slower growth in the meat substitutes market. Additionally, the growing trend of veganism and vegetarianism, coupled with increasing concerns about animal welfare, is also impacting the demand for meat substitutes in the global market.

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.