Spreads & Sweeteners - Gambia

Gambia

Highlights

Revenue in the Spreads & Sweeteners market amounts to US$19.46m in 2024. The market is expected to grow annually by 8.55% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$144bn in 2024).
In relation to total population figures, per person revenues of US$6.85 are generated in 2024.
In the Spreads & Sweeteners market, volume is expected to amount to 8.93m kg by 2029. The Spreads & Sweeteners market is expected to show a volume growth of 5.0% in 2025.0.
The average volume per person in the Spreads & Sweeteners market is expected to amount to 2.7kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Spreads & Sweeteners market in the Gambia is experiencing subdued growth, influenced by factors such as low consumer awareness and limited access to digital technologies. Despite the convenience of online services, traditional methods of purchasing these products still dominate the market. However, with increasing health consciousness and the emergence of new distribution channels, the market is expected to witness gradual growth in the coming years.

Customer preferences: With the growing health-consciousness among consumers, there has been a rise in demand for natural and organic spreads and sweeteners in The Food market in Gambia. This trend is driven by an increasing awareness of the negative effects of artificial sweeteners and additives. Moreover, the trend towards healthier options is also influenced by the cultural preference for traditional and natural ingredients in the Gambian diet. As a result, there has been a shift towards more plant-based and locally sourced spreads and sweeteners in the market.

Trends in the market: In Gambia, the Spreads & Sweeteners Market within The Food market is seeing a shift towards healthier alternatives, such as natural sweeteners and spreads made from plant-based ingredients. This trend is driven by increasing consumer awareness of the negative effects of processed and artificial ingredients on health. As a result, industry players are investing in research and development of new products to meet this demand. This trajectory is expected to continue as consumers prioritize health and wellness, presenting opportunities for companies to differentiate themselves and capture a larger market share. However, this trend also poses challenges for traditional spreads and sweeteners manufacturers, who may need to adapt their products to keep up with changing consumer preferences.

Local special circumstances: In Gambia, the Spreads & Sweeteners Market within The Food market is heavily influenced by the country's agricultural production and trade policies. The government has implemented strict regulations on the import and export of food products, making it challenging for foreign companies to enter the market. Additionally, the country's traditional cuisine heavily relies on homemade spreads and sweeteners, making it difficult for new products to gain traction. The local market is dominated by small-scale producers, making it challenging for larger companies to establish a presence.

Underlying macroeconomic factors: The Spreads & Sweeteners Market in Gambia is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and relevant financial indicators. The market is greatly impacted by Gambia's economic stability and growth, as well as the country's fiscal policies and regulations. Additionally, the demand for spreads and sweeteners is also influenced by global economic trends, such as changes in consumer preferences and purchasing power. Furthermore, investments in the food industry and infrastructure, as well as changes in international trade policies, can greatly impact the growth and performance of the market. Overall, the macroeconomic factors play a crucial role in shaping the Spreads & Sweeteners Market in Gambia and its future growth prospects.

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.