Food - Senegal

Senegal

Revenue in the Food market amounts to US$9.52bn in 2024. The market is expected to grow annually by 7.04% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$1.99bn 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$522.30 are generated in 2024.
In the Food market, 0.9% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 3,624.00m kg by 2029. The Food market is expected to show a volume growth of 4.7% in 2025.
The average volume per person in the Food market is expected to amount to 162.20kg 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 Senegal has seen minimal growth due to factors such as fluctuating prices, limited access to technology, and challenges with logistics and distribution. However, the increasing demand for convenience food and rising health awareness among consumers may drive growth in sub-markets such as fruits & nuts, vegetables, and oils & fats. The government's efforts to improve infrastructure and support local agriculture may also have a positive impact on the overall market.

Customer preferences: As Senegal's economy continues to grow, there is a notable shift in consumer preferences towards healthier and more sustainable food options. This trend is driven by a growing awareness of the impact of diet on overall health and the environment. As a result, there is a rise in demand for organic and locally sourced products, as well as an increase in vegetarian and vegan options. This shift is also influenced by the younger generation's interest in ethical and sustainable consumption, leading to a rise in demand for eco-friendly packaging and production methods.

Trends in the market: In Senegal, The Food market is experiencing a shift towards more sustainable and locally sourced products. Consumers are becoming more conscious of the environmental and health impacts of their food choices, leading to an increase in demand for organic and ethically produced foods. This trend is expected to continue, with a focus on supporting local farmers and reducing carbon footprint. It also presents opportunities for industry stakeholders to differentiate themselves by offering eco-friendly and socially responsible options. Additionally, there is a growing market for online food delivery services, driven by the increasing use of technology and convenience. This trend is expected to grow in the coming years, providing potential opportunities for businesses to tap into the digital market.

Local special circumstances: In Senegal, The Food market is heavily influenced by the country's rich agricultural heritage and traditional food culture. The local cuisine is heavily based on fresh, locally sourced ingredients, and there is a strong emphasis on communal dining and social gatherings. Additionally, the government has implemented strict regulations on food safety and hygiene, making Senegal's Food Market one of the safest and most trusted in the region. This unique combination of cultural and regulatory factors has created a market that is both diverse and highly regulated, ensuring high-quality and safe food for consumers.

Underlying macroeconomic factors: The Food market in Senegal is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The market is highly dependent on the overall economic performance of the country, as well as the stability and growth of the global economy. Additionally, government policies and regulations, such as import and export policies, taxes, and subsidies, play a significant role in shaping The Food market landscape in Senegal. Moreover, the overall health of the Senegalese economy, including factors like GDP growth, inflation rates, and employment levels, can impact the purchasing power and consumer behavior in The Food market.

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.