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Sauces & Spices - Gambia

Gambia
  • Revenue in the Sauces & Condiments market amounts to US$19.78m in 2024. The market is expected to grow annually by 8.69% (CAGR 2024-2029).
  • In global comparison, most revenue is generated China (US$46bn in 2024).
  • In relation to total population figures, per person revenues of US$6.96 are generated in 2024.
  • In the Sauces & Condiments market, volume is expected to amount to 6.94m kg by 2029. The Sauces & Condiments market is expected to show a volume growth of 5.3% in 2025.0.
  • The average volume per person in the Sauces & Condiments market is expected to amount to 2.0kg in 2024.

Definition:

The Sauces & Spices market covers all substances that are additional ingredients used during the food preparation process. Sauces are defined as liquid or semi-liquid preparations that are used to improve the flavor, texture, and appearance of a dish. Spices are dried seeds, fruits, etc. that are added to food to add taste, scent, and color.

Structure:

The market consists of three different submarkets:

  • The Tomato Ketchup market covers seasoned sauces most commonly based on tomatoes. It is often used as a condiment for fast food such as burgers and fries.
  • The Other Sauces market covers other types of sauces other than ketchup, such as mustard, mayonnaise, soy sauce, BBQ sauce, and other emulsified sauces as well as products for preparing sauces, i.e., gravy granules and bouillon cubes.
  • The Spices and Culinary Herbs market covers salt, spices, and culinary herbs such as pepper, chilis, curry, parsley, rosemary, and thyme.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), 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.

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

In-Scope

  • Ketchup
  • Sauces
  • Seasonings
  • Spices and herbs

Out-Of-Scope

  • Vegetable Oils
  • Out-of-home consumption
Sauces & Spices: market data & analysis - Cover

Market Insights report

Sauces & Spices: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Sauces & Spices market in the Gambia has been experiencing moderate growth, driven by increasing demand for traditional flavors and rising health consciousness. However, the growth rate is subdued due to challenges in sourcing high-quality ingredients and limited access to technology and distribution channels.

    Customer preferences:
    As consumers in Gambia become more health-conscious, there is a growing demand for natural and organic sauces and spices. This trend is driven by a shift towards clean label products and a preference for locally-sourced ingredients. Additionally, there is a growing interest in traditional spices and herbs used in Gambian cuisine, as consumers seek to reconnect with their cultural roots and preserve traditional cooking methods. This presents opportunities for local producers to tap into the growing demand for authentic and healthy sauces and spices.

    Trends in the market:
    In Gambia, there is a growing trend towards the use of locally sourced and organic ingredients in the production of sauces and spices. This trend is driven by consumers' increasing interest in healthy and sustainable food options. In addition, there is a rise in demand for ethnic and exotic flavors, leading to the introduction of new and unique spice blends in the market. This trend is expected to continue, with potential implications for industry stakeholders such as increased competition and the need for innovative product offerings to meet consumer demands.

    Local special circumstances:
    In Gambia, the Sauces & Spices Market within The Food market is heavily influenced by the country's tropical climate and rich cultural heritage. The local demand for spicy and flavorful dishes has led to a thriving market for sauces and spices, with a wide variety of traditional and unique blends available. Additionally, the government's emphasis on promoting local agriculture and supporting small businesses has created opportunities for local spice producers to enter the market. These factors contribute to the dynamic and diverse nature of the Sauces & Spices Market in Gambia.

    Underlying macroeconomic factors:
    The Sauces & Spices Market within The Food market in Gambia is greatly affected by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The country's economic stability and growth greatly influence the demand for sauces and spices, as consumers have more disposable income to spend on food products. Additionally, changes in fiscal policies, such as tax rates and import/export regulations, can impact the cost of raw materials and the overall production costs for manufacturers. Furthermore, global economic trends, such as shifts in consumer preferences and increasing demand for healthier and more natural food options, can also impact the growth and performance of the sauces and spices 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.

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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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