Food - Angola | Statista Market Forecast

Food - Angola

Angola

Highlights

Revenue in the Food market amounts to US$21.02bn in 2024. The market is expected to grow annually by 10.70% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$4.14bn in 2024.
In global comparison, most revenue is generated China (US$2tn in 2024).
In relation to total population figures, per person revenues of US$556.00 are generated in 2024.
In the Food market, 0.3% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 10.76bn kg by 2029. The Food market is expected to show a volume growth of 6.5% in 2025.0.
The average volume per person in the Food market is expected to amount to 231.60kg in 2024.

Key regions:

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Food market in Angola is experiencing mild growth, influenced by factors such as increasing consumer awareness of healthy eating, the convenience of online food services, and the country's rich agricultural resources. Sub-markets such as Dairy Products & Eggs, Meat, Fish & Seafood, and Fruits & Nuts are contributing to this growth, with a focus on providing nutritious and locally sourced options. However, limitations in infrastructure and transportation may impact the overall growth rate.

Customer preferences: As Angola's economy continues to grow, there has been a notable shift in consumer preferences towards healthier food options. This trend is driven by a growing awareness and prioritization of health and wellness among the population. As a result, there has been an increase in demand for organic and natural foods, as well as plant-based alternatives. Additionally, there has been a rise in the popularity of online grocery shopping, as consumers seek convenience and safety during the ongoing pandemic. This trend is expected to continue as more consumers prioritize their health and well-being in their food choices.

Trends in the market: In Angola, The Food market industry is experiencing an increase in demand for locally sourced and organic products. This trend is driven by a growing awareness of the benefits of sustainable and healthy eating habits. Additionally, there is a rise in online food delivery services, making it more convenient for consumers to access a wider variety of food options. These trends are significant as they reflect a shift towards a more conscious and tech-savvy consumer base. For industry stakeholders, this presents an opportunity to tap into this growing demand and adapt their business models to meet the changing needs of consumers. However, it also poses challenges in terms of supply chain management and ensuring the quality and safety of products. As these trends continue to evolve, it will be crucial for stakeholders to stay updated and innovative in order to remain competitive in the market.

Local special circumstances: In Angola, The Food market is heavily influenced by the country's geography and cultural preferences. Due to its location on the coast, seafood is a prominent part of the cuisine and plays a significant role in the market. Additionally, the country's strong agricultural sector has led to a focus on fresh, locally-sourced ingredients, making traditional markets and street vendors popular among consumers. The government's recent efforts to improve food safety regulations have also affected the market, leading to increased demand for certified products and organic options.

Underlying macroeconomic factors: The performance of The Food market in Angola is heavily influenced by macroeconomic factors, including the country's overall economic health, government fiscal policies, and global economic trends. Countries with stable economies and supportive fiscal policies tend to experience higher market growth compared to those with economic challenges and less government support. Additionally, the demand for food products is greatly impacted by factors such as population growth, income levels, and consumer spending patterns. As such, countries with a growing population and increasing disposable income are likely to see a rise in demand for food products, creating opportunities for market growth in The Food market 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.