Key regions: Spain, Japan, China, Philippines, United Kingdom
The Spreads & Sweeteners Market in Morocco is experiencing minimal growth, influenced by factors such as shifting consumer preferences towards healthier options, increasing competition from substitute products, and fluctuating raw material costs. Despite this slow growth rate, the market is still driven by the convenience offered by online shopping and the rising demand for natural and organic products.
Customer preferences: The Spreads & Sweeteners Market within The Food market in Morocco has seen a rise in demand for healthier and natural sweeteners, such as honey and agave nectar, as consumers become more health-conscious. This trend is also driven by the growing preference for locally-sourced and sustainable products. Additionally, there has been a shift towards plant-based spreads, as more consumers adopt vegetarian and vegan lifestyles. These changes in consumer preferences are influenced by the cultural emphasis on health and wellness, as well as the increasing awareness of the environmental impact of food choices.
Trends in the market: In Morocco, the Spreads & Sweeteners market is experiencing a shift towards healthier and more natural options, driven by consumer demand for clean label products. This trend is expected to continue, with the market projected to grow at a CAGR of 4.8% from 2021-2026. This presents opportunities for industry players to innovate and introduce new products that cater to this trend. Additionally, there is a rising focus on sustainable and ethical sourcing, with consumers placing importance on the environmental impact of the ingredients used in these products. This trend is likely to influence purchasing decisions and drive companies to adopt more sustainable practices in their supply chain.
Local special circumstances: In Morocco, the Spreads & Sweeteners market is heavily influenced by the country's rich culinary heritage, which includes the use of locally sourced honey and traditional spread ingredients like argan oil. Additionally, the government has implemented policies to promote the use of natural and locally produced sweeteners, leading to a growing demand for these products in the market. Furthermore, the country's growing health consciousness and increasing disposable income have also contributed to the popularity of healthier and more natural spreads and sweeteners.
Underlying macroeconomic factors: The growth of the Spreads & Sweeteners Market within The Food market in Morocco is also influenced by macroeconomic factors such as consumer spending habits, government policies, and trade agreements. The country's stable economic growth and increasing disposable income are driving the demand for convenience and healthier food options, leading to the growth of the market. Moreover, Morocco's participation in free trade agreements with the EU and the US has created new opportunities for international players to enter the market and cater to the growing demand for specialized spreads and sweeteners.
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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