Africa Food and Beverage Market Size By Application (Meat, Poultry, and Seafood Grain Beverage Fruits and Vegetables), By Geography (South Africa Egypt Nigeria Zimbabwe), And Forecast
Africa Food and Beverage Market Size By Application (Meat, Poultry, and Seafood Grain Beverage Fruits and Vegetables), By Geography (South Africa Egypt Nigeria Zimbabwe), And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Africa Food And Beverage Market size was valued at USD 5.95 Billion in 2024 and is projected to reach USD 8.57 Billion by 2031,growing at a CAGR of 5.15% during the forecasted period 2024 to 2031.
The food and beverage industry in the Africa region has seen healthy growth over the last few years and this is expected to continue over the upcoming years. Population expansion, shifting demographics, increased urbanization, and a booming market for flavored alcoholic beverages are a few more factors that are boosting the growth of the market in the region. The Africa Food and Beverage Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Africa Food and Beverage Market Definition
Basically, if you're eating or drinking something (besides medicine!), it's come through the food and beverage industry. This industry is huge, encompassing all the companies that take raw ingredients and turn them into what we eat and drink – whether that's packaging, selling, or getting those raw materials ready to go. We're talking about everything from packaged snacks to fresh produce, ready-made meals, and both alcoholic and non-alcoholic drinks. Africa, with its rich, fertile lands, has always been a prime source of amazing produce for both local plates and export. It's home to some of the most diverse and vibrant food scenes on the planet! Across much of the continent, starch is a key ingredient. Think of a classic African meal, and you'll likely find a starchy base, often paired with fish, meat, and a whole range of delicious herbs and spices. Staples include cornmeal, sorghum, potatoes, ground millet, yams, and rice. And stews? They're a big deal, frequently packing some serious heat!
Some of the leading countries in the African food and beverage sector are South Africa, Nigeria, and Kenya among others. With its advanced agricultural and agro-processing capabilities, and robust production capacity, South Africa has the most developed food and beverage industry in the region. Nigeria’s food and beverage industry are growing rapidly. This is mainly due to the growing middle class and overall population growth. The other market in the countries such as Ethiopia, Tanzania, Egypt, and Algeria offers a lot of opportunities for the food and beverage industry stakeholders.
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Africa Food and Beverage Market Overview
The food and drinks scene in Africa? It's booming! We've seen some serious growth these past few years. What's driving it? Well, for starters, the population keeps growing, and the economy has been doing pretty well for the last couple of decades. That naturally means more demand for good food and drinks. But it's not just that. Think about how quickly cities are growing, the advances we're seeing in biotechnologies, how much things are going digital, and how connected we are globally—all of that is having a big impact too. The whole continent is shifting. Instead of just sending out raw materials and buying processed foods from elsewhere, Africa's developing its own awesome and competitive food processing industry.
Africa's population is booming – growing faster than anywhere else on Earth! In 2022, we're talking about over 1.4 billion people. The UN says (check out their World Population Prospects) that Africa's population grew by a whopping 2.45% in 2021, and they think it'll stay above 2% for the next two decades. Plus, cities are exploding! The OECD reports that Africa will likely have the quickest urban growth globally. Get thisby 2050, an extra 950 million people will call African cities home. So, with all this population growth and urbanization, it's no surprise there's a huge and growing demand for food and drinks across the region.
In addition to the increased demand for food, these developments are also leading to profound changes in the composition of demand. Diets in Africa, particularly among urban residents and higher-income, are shifting away from staples and toward higher-value foods, including animal products, fruits and vegetables, and sugars. In addition, changing lifestyles, especially in the urban areas have led to increased demand for faster-to-prepare processed foods, ready-to-eat foods, and packaged foods that often contain high amounts of sugar, salt, or fat. Therefore, there is an increased demand for packaged and processed food in the Africa region.
The region has a presence of many well-established global players such as FrieslandCampina, Kellogg, Danone and AB InBev, Coca-Cola, PepsiCo, Nestle, Heineken, and Unilever among others. These companies have made significant investments in local agricultural value chains, production plants, and processing facilities. In recent years, regional companies are also investing in value-added processing units and branded food products.
Africa Food and Beverage MarketSegmentation Analysis
The Africa Food and Beverage Market is segmented on the basis of Application Product Type and Geography.
Africa Food and Beverage Market, By Application
Meat, Poultry, and Seafood
Grain
Beverage
Fruits and Vegetables
Dairy
Sugar and Confectionery
Others
Meat, Poultry, and Seafood accounted for the largest market share in 2021. South Africa is a large meat eating country yet is only able to produce around 80% of its domestic demand leaving the remaining 20% to be imported. The consumption of meat in South Africa goes against the global trend because poultry meat is the most widely consumed meat in South Africa (32.96kg per capita). According to the United Nations COMTRADE database on international trade, South Africa Imports from India of Meat, fish and seafood preparations was USD 5.14 Million during 2022.
Africa Food and Beverage Market By Product Type
Food Products
Beverages
Africa Food and Beverage Market, By Geography
South Africa
Egypt
Nigeria
Zimbabwe
Namibia
Rest of Africa
Back in 2021, South Africa held the biggest slice of the market pie. They've got a thriving agricultural scene, using about 10% of their substantial land for growing crops. When it comes to food and drinks, South Africa is the most developed market in all of Africa, but don't think it's all sewn up! There's still tons of potential, especially since people are expected to eat and drink more. Thanks to its strong production and top-notch farming and processing skills, South Africa is the king of the food and beverage industry in Africa. Did you know they're also in the top 15 beer-loving countries worldwide? South Africans' tastes are getting fancier, and folks want to see more cool alcoholic drinks when they hit the stores.
Key Players
The major players in the market are Archer-Daniels-Midland Company (ADM), Nestle S.A., PepsiCo Inc., JBS S.A., Anheuser-Busch InBev SA, Wilmar International Ltd., Tyson Foods Inc., Mars Incorporated, The Coca-Cola Company, and RCL Foods. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2031
BASE YEAR
2024
FORECAST PERIOD
2024-2031
HISTORICAL PERIOD
2021-2023
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Archer-Daniels-Midland Company (ADM), Nestle S.A., PepsiCo Inc., JBS S.A., Anheuser-Busch InBev SA, Wilmar International Ltd., Tyson Foods Inc., Mars Incorporated, The Coca-Cola Company, and RCL Foods.
SEGMENTS COVERED
Application Product Type and Geography.
CUSTOMIZATION SCOPE
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