Confectionery & Snacks - Gambia

Gambia

Revenue in the Confectionery & Snacks market amounts to €141.00m in 2024. The market is expected to grow annually by 6.90% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€124bn in 2024).
In relation to total population figures, per person revenues of €49.60 are generated in 2024.
In the Confectionery & Snacks market, volume is expected to amount to 38.17m kg by 2029. The Confectionery & Snacks market is expected to show a volume growth of 2.1% in 2025.
The average volume per person in the Confectionery & Snacks market is expected to amount to 12.0kg in 2024.

Key regions: Philippines, South Korea, Canada, Japan, China

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Comparación de regiones

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Analyst Opinion

The Confectionery & Snacks market in Gambia is experiencing minimal growth due to factors such as limited disposable income, low purchasing power, and high competition from traditional snacks. However, the increasing demand for healthier snack options and the growing tourism industry may drive growth in the future. The convenience of online shopping and the rising health awareness among consumers may also contribute to the market's growth.

Customer preferences: As consumer lifestyles in Gambia continue to evolve, there has been a rise in demand for healthier snack options. This trend is influenced by the growing health consciousness among individuals, particularly the younger demographic. As a result, there is a shift towards more natural and organic ingredients in confectionery and snack products. Additionally, the rise of e-commerce and online grocery shopping has made it easier for consumers to access a wider range of healthier choices. This shift towards healthier snacking options is likely to continue in the future.

Trends in the market: In Gambia, the Confectionery & Snacks Market within The Food market is experiencing a rise in demand for healthier snack options, such as plant-based and gluten-free snacks. This trend is driven by increasing health consciousness among consumers and a desire for more diverse and nutritious snack options. Industry stakeholders are responding by incorporating these trends into their product offerings and investing in innovative packaging and marketing strategies to appeal to health-conscious consumers. This trajectory is expected to continue, as consumers become more educated about the benefits of healthy snacking and seek out convenient and satisfying options. This trend has the potential to disrupt traditional snack markets and drive growth for companies that are able to adapt and cater to this evolving consumer demand.

Local special circumstances: In Gambia, the Confectionery & Snacks Market within The Food market is heavily influenced by the country's tropical climate and cultural preferences for sweet and savory snacks. Additionally, regulatory measures to promote local production and consumption of traditional snacks have played a significant role in shaping the market. These factors have created a unique market dynamic, with a wide range of locally-produced snacks catering to both domestic and tourist demand.

Underlying macroeconomic factors: The Confectionery & Snacks Market within The Food market in Gambia is impacted by macroeconomic factors such as consumer spending, population growth, and government policies. As the country's economy continues to grow, there is an increase in disposable income, leading to higher demand for indulgent treats and snacks. Furthermore, the growing population and urbanization in Gambia create a larger consumer base for the market. However, the market is also affected by government policies such as import regulations and taxes, which can impact the availability and affordability of products. Additionally, global economic trends, such as fluctuating commodity prices and currency exchange rates, can also influence the performance of the Confectionery & Snacks Market in Gambia.

Methodology

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.