Sweeteners - Burkina Faso | Statista Market Forecast

The Sweeteners Market in Burkina Faso is experiencing limited growth due to factors such as low consumer awareness and limited availability of digital technologies. The Honey sub-market faces challenges in production and distribution, while the Sugar sub-market is impacted by price fluctuations. Artificial Sweeteners, although gaining popularity, face challenges due to concerns over health effects. Overall, the negligible growth rate is driven by a combination of factors specific to each sub-market, making it difficult to achieve significant growth in the Sweeteners Market in Burkina Faso.

Customer preferences: Consumers in Burkina Faso are increasingly seeking healthier alternatives to traditional sugar-based sweeteners, leading to a rise in demand for natural and plant-based sweeteners such as stevia and honey. This trend is driven by a growing awareness of the negative health impacts of excessive sugar consumption and a desire for more natural and sustainable food options. Additionally, the rise in health-consciousness among younger demographics is also contributing to the shift towards healthier sweeteners, as they prioritize their overall well-being and seek out more nutritious food choices.

Trends in the market: In Burkina Faso, the Sweeteners Market of the Spreads & Sweeteners Market within The Food market is experiencing a shift towards healthier options, with an increasing demand for natural sweeteners like honey and agave syrup. This trend is driven by rising health consciousness among consumers, who are seeking out alternative options to traditional sugar. This presents opportunities for industry stakeholders to diversify their product offerings and cater to this growing demand. Additionally, there is a growing trend towards sustainably sourced sweeteners, as consumers become more environmentally conscious. This could potentially lead to partnerships and collaborations between food manufacturers and local farmers, creating a more sustainable supply chain. Overall, these trends indicate a shift towards healthier and more sustainable sweetener options in Burkina Faso's market.

Local special circumstances: In Burkina Faso, the Sweeteners Market of the Spreads & Sweeteners Market within The Food market is heavily influenced by the country's low GDP per capita and high poverty rates. As a result, consumers tend to prefer cheaper, locally produced sweeteners such as honey and syrups over imported options. Additionally, the country's hot and dry climate limits the production of certain sweeteners, leading to a reliance on traditional, locally sourced alternatives. This unique combination of economic and environmental factors greatly impacts the dynamics of the Sweeteners Market in Burkina Faso.

Underlying macroeconomic factors: The Sweeteners Market of the Spreads & Sweeteners Market within The Food market is greatly affected by macroeconomic factors such as consumer spending power, changing dietary preferences, and government policies on food safety and labeling. Countries with high disposable incomes and a shift towards healthier diets are driving the demand for natural sweeteners and sugar substitutes. On the other hand, regions with economic instability and limited consumer awareness are experiencing slower market growth due to reduced purchasing power and a lack of demand for premium products. Moreover, government regulations on sugar consumption and labeling are also impacting market performance, with stricter guidelines promoting the use of low-calorie sweeteners and natural alternatives.

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.