Sweeteners - Gabon | Statista Market Forecast

The Sweeteners Market in Gabon is experiencing minimal growth, influenced by factors such as consumer preference for natural sweeteners like honey, increasing health consciousness, and the growing demand for artificial sweeteners due to their convenience. This trend can also be attributed to the overall slow growth of The Food market in Gabon.

Customer preferences: As consumers become more health-conscious, there is a growing demand for natural and low-calorie sweeteners in the Spreads & Sweeteners Market within The Food market. This trend is driven by a shift towards healthier lifestyles and a desire to reduce sugar intake. Additionally, there is a growing awareness of the negative health effects of artificial sweeteners, leading consumers to seek out more natural alternatives. This has led to the emergence of new products, such as stevia-based sweeteners, in the market.

Trends in the market: In Gabon, the Spreads & Sweeteners Market within The Food market is experiencing a shift towards healthier options, with consumers demanding more natural and organic sweeteners. This trend is driven by growing health consciousness and concerns over the health risks associated with artificial sweeteners. As a result, companies are investing in research and development of natural sweeteners such as stevia, agave, and honey. This trend is expected to continue, as consumers become more aware of the benefits of natural ingredients, creating opportunities for industry stakeholders to cater to this demand and potentially increase market share.

Local special circumstances: In Gabon, the Spreads & Sweeteners Market is heavily influenced by the country's reliance on imports for food products, including sweeteners. This is due to the limited agricultural capabilities of the country. Additionally, Gabon's culture places a high value on traditional food and beverages, which may impact the demand for artificial sweeteners. Furthermore, the government has strict regulations on food imports, which can affect the availability and pricing of sweeteners in the market. These unique local factors contribute to the dynamics of the Spreads & Sweeteners Market in Gabon.

Underlying macroeconomic factors: The Sweeteners Market of the Spreads & Sweeteners Market within The Food market is heavily impacted by macroeconomic factors such as consumer spending power, economic stability, and government policies. In Gabon, the market is influenced by the country's dependence on oil exports, as fluctuations in global oil prices can affect consumer purchasing power and overall economic health. Additionally, fiscal policies aimed at promoting domestic production and reducing import dependence can impact the availability and pricing of sweeteners in the market. National economic health and stability are important considerations for investors and businesses looking to enter or expand in the Gabonese market, as they can impact market demand and profitability.

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.