Fresh Vegetables - Equatorial Guinea

Equatorial Guinea

Highlights

Revenue in the Fresh Vegetables market amounts to US$229.40m in 2024. The market is expected to grow annually by 6.36% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$101bn in 2024).
In relation to total population figures, per person revenues of US$130.70 are generated in 2024.
In the Fresh Vegetables market, volume is expected to amount to 127.60m kg by 2029. The Fresh Vegetables market is expected to show a volume growth of 4.3% in 2025.0.
The average volume per person in the Fresh Vegetables market is expected to amount to 60.9kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Vegetables Market in Equatorial Guinea is witnessing minimal growth, influenced by factors such as limited agricultural infrastructure, fluctuating consumer preferences, and challenges in supply chain management, which hinder overall market expansion and accessibility.

Customer preferences: In Equatorial Guinea, there is a notable shift towards health-conscious eating, with consumers increasingly prioritizing fresh and organic vegetables in their diets. This change is influenced by rising awareness of nutrition and the health benefits associated with a plant-based diet. Additionally, younger demographics, particularly urban dwellers, are driving demand for convenience, leading to a growth in online grocery shopping and delivery services. Cultural preferences for traditional dishes are also evolving, as more households experiment with international cuisines, further increasing the interest in diverse vegetable options.

Trends in the market: In Equatorial Guinea, the Fresh Vegetables Market is experiencing a surge in demand for locally sourced and organic produce, driven by a growing health consciousness among consumers. This trend is particularly prominent among younger, urban populations who are more inclined to adopt sustainable eating practices. Additionally, there is an increasing preference for online shopping platforms, which cater to the desire for convenience. As traditional culinary practices evolve, there is a notable exploration of international vegetable varieties, which not only enriches local cuisine but also presents opportunities for farmers and distributors to diversify their offerings and expand their market reach.

Local special circumstances: In Equatorial Guinea, the Fresh Vegetables Market is influenced by the country's tropical climate, which supports the cultivation of a diverse range of crops year-round. The cultural emphasis on traditional diets rich in vegetables further fuels demand, particularly for indigenous varieties. Regulatory support for local agriculture initiatives enhances access to resources for small-scale farmers. Additionally, the country's limited infrastructure challenges prompt a shift toward community-supported agriculture models, fostering direct connections between consumers and local producers and bolstering the market for fresh, locally sourced vegetables.

Underlying macroeconomic factors: The Fresh Vegetables Market in Equatorial Guinea is shaped by several macroeconomic factors, including national economic health, global commodity prices, and trade policies. The country’s ongoing efforts to diversify its economy away from oil reliance are fostering greater investment in agriculture. Favorable fiscal policies aimed at supporting local farmers enhance production capabilities and accessibility to markets. Moreover, fluctuations in global vegetable prices can impact local purchasing power and consumer behavior. Additionally, infrastructural development initiatives, alongside investments in transportation and storage, are crucial for reducing post-harvest losses and improving market access, ultimately driving the growth of the fresh vegetables sector.

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.