Spices & Culinary Herbs - Equatorial Guinea

Revenue in the Salt & Other Spices market amounts to US$18.70m in 2024. The market is expected to grow annually by 8.98% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$11bn in 2024).
In relation to total population figures, per person revenues of US$10.65 are generated in 2024.
In the Salt & Other Spices market, volume is expected to amount to 951.30k kg by 2029. The Salt & Other Spices market is expected to show a volume growth of 5.8% in 2025.0.
The average volume per person in the Salt & Other Spices market is expected to amount to 0.4kg in 2024.

Definition:

The Spices and Culinary Herbs market covers salt, dried seeds, fruits, etc. that are added to food to modify the taste, scent, and color. Examples of culinary herbs include 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.

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Salt, flavor salt
Spices (e.g. black pepper, paprika, cumin, coriander, cinnamon)
Culinary herbs (e.g. basil, parsley, rosemary, oregano

Seasonings
Out-of-home consumption

The Spices & Culinary Herbs Market in Equatorial Guinea is experiencing minimal growth due to factors such as limited access to digital technologies and low health awareness among consumers. Convenience offered by online services also impacts the market's growth rate.

Customer preferences: One notable trend in the Spices & Culinary Herbs Market of the Sauces & Spices Market within The Food market is the growing demand for organic and sustainably sourced spices and herbs. With increasing awareness about the health benefits of natural and organic ingredients, consumers are seeking out products that are free from chemicals and additives. This shift towards more mindful and conscious consumption is also driven by a growing interest in ethical and sustainable sourcing practices, reflecting a larger cultural shift towards environmental and social responsibility.

Trends in the market: In Equatorial Guinea, the Spices & Culinary Herbs Market of the Sauces & Spices Market within The Food market is experiencing a growing demand for organic and sustainable products. Consumers are becoming more health-conscious and are seeking out natural alternatives to traditional spices. This trend is expected to continue as more consumers prioritize healthy and environmentally-friendly choices. Industry stakeholders can capitalize on this trend by expanding their product offerings to include organic and sustainably sourced spices and herbs. Additionally, the use of social media and e-commerce platforms to reach a wider audience is becoming increasingly important in this market.

Local special circumstances: In Equatorial Guinea, the Spices & Culinary Herbs Market of the Sauces & Spices Market within The Food market is driven by the country's rich cultural heritage and diverse cuisine. The use of locally grown spices and herbs in traditional dishes has created a unique demand for these products. Additionally, strict regulations on food imports have limited the availability of foreign spices, making the local market highly competitive. Furthermore, the country's tropical climate provides the ideal conditions for growing high-quality spices, giving the market a competitive edge in terms of quality and variety.

Underlying macroeconomic factors: The growth of the Spices & Culinary Herbs Market of the Sauces & Spices Market within The Food market is also influenced by macroeconomic factors such as changing consumer preferences, global trade policies, and government initiatives. Countries with open trade policies and favorable consumer attitudes towards exotic flavors and ingredients are experiencing faster market growth compared to regions with restrictive trade policies and traditional food preferences. Additionally, government initiatives promoting the use of local spices and herbs in culinary practices are driving the demand for these products, boosting market growth.

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.