Pet Food - Gabon

Gabon

Revenue in the Pet Food market amounts to US$20.89m in 2024. The market is expected to grow annually by 2.87% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$59,740m in 2024).
In relation to total population figures, per person revenues of US$8.41 are generated in 2024.
In the Pet Food market, volume is expected to amount to 7.51m kg by 2029. The Pet Food market is expected to show a volume growth of 0.8% in 2025.
The average volume per person in the Pet Food market is expected to amount to 2.9kg in 2024.

Key regions: Russia, Spain, Philippines, United Kingdom, India

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Analyst Opinion

The Pet Food Market in Gabon is seeing minimal growth, influenced by factors such as low consumer awareness, limited access to online services, and traditional feeding practices. This has hindered the market's progress despite its potential in the growing Food Market in Gabon.

Customer preferences: As pet ownership continues to rise in Gabon, there is a growing interest in premium and natural pet food options. This trend is reflective of a larger shift towards healthier and more natural products in the broader food market. Additionally, pet owners are increasingly seeking out personalized and customized pet food solutions, influenced by their own dietary preferences and lifestyle choices. This demand for more tailored options is likely to drive innovation and competition in the pet food market.

Trends in the market: In Gabon, the Pet Food market is experiencing a shift towards more organic and natural products, as consumers become more health-conscious and concerned about the quality and safety of their pet's food. This trend is expected to continue, as consumers seek out products with minimal additives and ingredients. This shift is significant for industry stakeholders, as it presents opportunities for new product development and marketing strategies. However, it also poses challenges for companies to keep up with changing consumer preferences and potentially higher production costs. In addition, with the rise of e-commerce and online shopping in Gabon, there is potential for pet food companies to tap into this market and reach a wider customer base.

Local special circumstances: In Gabon, the Pet Food market is heavily influenced by its unique cultural and geographical factors. Due to the country's tropical climate, the demand for high-quality, nutritious pet food is high. Additionally, Gabonese consumers place a strong emphasis on natural and organic products, leading to a rise in demand for organic pet food options. Moreover, the government has implemented regulations to ensure the safety and quality of pet food products, further shaping the market dynamics. These factors contribute to the steady growth of the Pet Food Market in Gabon.

Underlying macroeconomic factors: The Pet Food Market within The Food market in Gabon is impacted by macroeconomic factors such as the country's economic stability, global economic trends, and government policies. The stability and growth of the country's economy play a crucial role in determining consumer spending on pet food products. National economic health, fiscal policies, and other financial indicators also influence market performance. For instance, a strong economy with favorable policies can lead to increased disposable income, resulting in higher demand for premium and specialized pet food products. On the other hand, economic instability and weak fiscal policies can negatively impact consumer purchasing power and overall market growth. Moreover, global economic trends, such as trade agreements and fluctuations in currency exchange rates, can also affect the availability and affordability of imported pet food products 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.