Convenience Food - Gambia

Gambia

Revenue in the Convenience Food market amounts to €45.93m in 2024. The market is expected to grow annually by 8.43% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€141bn in 2024).
In relation to total population figures, per person revenues of €16.16 are generated in 2024.
In the Convenience Food market, volume is expected to amount to 15.34m kg by 2029. The Convenience Food market is expected to show a volume growth of 4.5% in 2025.
The average volume per person in the Convenience Food market is expected to amount to 4.6kg in 2024.

Key regions: Canada, China, Spain, Japan, Philippines

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Convenience Food Market in Gambia is experiencing subdued growth due to various factors such as limited availability of ready-to-eat meals and soups, low consumer awareness, and lack of infrastructure for online food services. However, with increasing urbanization and busy lifestyles, convenience foods are gaining popularity, especially among the younger population. The market has the potential for significant growth in the future as more companies enter the market and offer a wider variety of convenient food options.

Customer preferences: As the convenience food market continues to grow in Gambia, there has been a noticeable increase in demand for healthier and more sustainable options. This trend is driven by a growing awareness of the importance of nutrition and the impact of food choices on overall health. Additionally, there has been a shift towards more plant-based and organic options, as consumers become more environmentally conscious. This has also been influenced by the rising number of young professionals and urban dwellers, who are willing to pay more for convenience without compromising on quality and sustainability.

Trends in the market: In Gambia, the Convenience Food Market within The Food market is experiencing a rise in demand for healthier and more sustainable options. This trend is driven by increasing awareness of the impact of diet on health and the environment. As a result, there is a growing market for plant-based and organic convenience foods. This trend is expected to continue as consumers prioritize health and sustainability in their food choices. Industry stakeholders should focus on developing and promoting these types of products to capitalize on this trend and meet consumer demand. Additionally, there is potential for partnerships with local farmers and suppliers to source ingredients and support the local economy.

Local special circumstances: In Gambia, the Convenience Food Market within The Food market is influenced by its primarily agricultural economy, with a focus on traditional food production and consumption. This has led to a demand for locally sourced, fresh convenience food options, such as locally made snacks and street food. Additionally, the country's growing urbanization and increasing disposable income have led to a rise in demand for packaged and processed convenience foods. The market is also heavily influenced by cultural preferences for certain types of food, such as rice and fish-based dishes, as well as religious dietary restrictions. These unique factors contribute to the diverse and dynamic nature of the Convenience Food Market in Gambia.

Underlying macroeconomic factors: The Convenience Food Market within The Food market in Gambia is influenced by macroeconomic factors such as consumer spending power, government policies, and economic stability. As the country's economy continues to grow, more consumers are able to afford convenience food products, leading to an increase in demand. Additionally, favorable government policies and investments in the food industry are creating a conducive environment for market growth. However, factors such as inflation and currency fluctuations can affect the purchasing power of consumers and impact market performance. Furthermore, global economic trends and trade policies can also have an indirect influence on the Convenience Food 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.