Spreads - Zimbabwe | Statista Market Forecast

The Spreads Market in Zimbabwe is facing slow growth due to various factors like low consumer awareness, limited availability of digital technologies, and lack of convenience offered by online services. This is evident in the sub-markets of Jams & Marmalades, Chocolate Spreads, and Peanut Butter, which also show negligible growth. The market is impacted by the country's economic situation and limited access to technology, hindering the adoption of digital solutions.

Customer preferences: Consumers in Zimbabwe are increasingly looking for healthier and more natural spreads and sweeteners, leading to a rise in demand for organic and plant-based options. This trend is driven by a growing awareness of the health benefits of these products and a desire for sustainable and ethically-sourced food choices. Additionally, there has been a shift towards smaller packaging and portion sizes, reflecting a move towards more mindful and conscious consumption.

Trends in the market: In Zimbabwe, the Spreads & Sweeteners Market within The Food market is experiencing a shift towards healthier and more natural options. This trend is driven by increasing consumer awareness and demand for clean label products. As a result, there has been a rise in the production and consumption of alternative sweeteners like honey, maple syrup, and agave nectar. Additionally, there is a growing interest in nut and seed spreads, such as almond and cashew butter, as a healthier alternative to traditional spreads like margarine and peanut butter. This trend is expected to continue, with potential implications for industry stakeholders such as manufacturers and retailers who may need to adapt their product offerings to meet evolving consumer preferences.

Local special circumstances: In Zimbabwe, the Spreads Market within the Spreads & Sweeteners Market of The Food market is heavily influenced by the country's economic and political situation. The high inflation rate and currency instability have led to a demand for affordable food options, making spreads a popular choice. Additionally, the unique local flavors and preferences contribute to the diversity of spread varieties available in the market. The regulatory environment also plays a role, with restrictions on imported goods leading to a focus on locally sourced ingredients for spreads. These factors create a distinct market landscape, with local players dominating the market and consumers seeking value for money options.

Underlying macroeconomic factors: The Spreads Market of the Spreads & Sweeteners Market within The Food market in Zimbabwe is heavily influenced by macroeconomic factors such as the country's economic stability, fiscal policies, and global economic trends. With Zimbabwe's recent economic improvements and relaxed foreign investment policies, the market has experienced significant growth. However, challenges such as currency fluctuations and inflation continue to impact market performance. Additionally, the growing health consciousness and demand for healthier food options have also contributed to the growth of the Spreads Market, as consumers seek out spreads and sweeteners made with natural and organic ingredients. This trend is expected to continue as the country's economy stabilizes and consumer spending power increases.

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.