Sauces & Spices - Gambia

Gambia

Revenue in the Sauces & Condiments market amounts to €18.15m in 2024. The market is expected to grow annually by 8.52% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€42bn in 2024).
In relation to total population figures, per person revenues of €6.39 are generated in 2024.
In the Sauces & Condiments market, volume is expected to amount to 6.94m kg by 2029. The Sauces & Condiments market is expected to show a volume growth of 5.3% in 2025.
The average volume per person in the Sauces & Condiments market is expected to amount to 2.0kg in 2024.

Key regions: Japan, South Korea, China, Spain, United Kingdom

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Sauces & Spices market in the Gambia has been experiencing moderate growth, driven by increasing demand for traditional flavors and rising health consciousness. However, the growth rate is subdued due to challenges in sourcing high-quality ingredients and limited access to technology and distribution channels.

Customer preferences: As consumers in Gambia become more health-conscious, there is a growing demand for natural and organic sauces and spices. This trend is driven by a shift towards clean label products and a preference for locally-sourced ingredients. Additionally, there is a growing interest in traditional spices and herbs used in Gambian cuisine, as consumers seek to reconnect with their cultural roots and preserve traditional cooking methods. This presents opportunities for local producers to tap into the growing demand for authentic and healthy sauces and spices.

Trends in the market: In Gambia, there is a growing trend towards the use of locally sourced and organic ingredients in the production of sauces and spices. This trend is driven by consumers' increasing interest in healthy and sustainable food options. In addition, there is a rise in demand for ethnic and exotic flavors, leading to the introduction of new and unique spice blends in the market. This trend is expected to continue, with potential implications for industry stakeholders such as increased competition and the need for innovative product offerings to meet consumer demands.

Local special circumstances: In Gambia, the Sauces & Spices Market within The Food market is heavily influenced by the country's tropical climate and rich cultural heritage. The local demand for spicy and flavorful dishes has led to a thriving market for sauces and spices, with a wide variety of traditional and unique blends available. Additionally, the government's emphasis on promoting local agriculture and supporting small businesses has created opportunities for local spice producers to enter the market. These factors contribute to the dynamic and diverse nature of the Sauces & Spices Market in Gambia.

Underlying macroeconomic factors: The Sauces & Spices Market within The Food market in Gambia is greatly affected by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The country's economic stability and growth greatly influence the demand for sauces and spices, as consumers have more disposable income to spend on food products. Additionally, changes in fiscal policies, such as tax rates and import/export regulations, can impact the cost of raw materials and the overall production costs for manufacturers. Furthermore, global economic trends, such as shifts in consumer preferences and increasing demand for healthier and more natural food options, can also impact the growth and performance of the sauces and spices 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.